Global expansion and further collaborative innovation planned
London 24 April 2012 - Formicary Collaboration Group (FCG), a provider of team-based collaboration solutions, has secured an injection of growth capital worth just over £1 million. The funding, which has come from a group of private angel investors, will be used to drive business development initiatives both in the UK and international markets, and fuel further innovation of FCG products.
FCG’s collaboration software leverages existing knowledge and communication assets to enable users to consume and share information and ideas through enterprise 2.0 and social applications - accessible on any device for today’s increasingly mobile workforce. By integrating the wealth of content within business workflow systems with social collaboration technology, FCG solutions power dynamic discussions that can have a direct impact on business performance and profits. Current clients include Aviva and The Royal Bank of Scotland.
The company was created as a separate business entity in 2011 after trading for 10 years as part of Formicary Limited, a financial software and systems integration provider.
Heiner Boehmer, one of the investors involved in the funding, comments:
“FCG is already a credible player in the collaboration space thanks to its heritage in providing innovative solutions to an impressive list of blue chip clients. This combined with the proven experience of its management team means that FCG is well placed to provide a solution for the corporate collaboration challenge faced by organisations today.”
Joseph Do, CEO, adds: “This investment shows the faith investors have in FCG’s products and our ability to deliver real benefits to a growing market. FCG will use the funding to expand the business development team, particularly in the US where we are seeing strong demand and are looking to increase our presence.”
About Formicary Collaboration Group
Formicary Collaboration Group (FCG) is a leading provider of team-based collaboration solutions. FCG’s software leverages existing knowledge and communication assets to enable users to consume and share information and ideas, delivered through a next generation user experience providing best of breed Enterprise 2.0 and social features, and accessible on any device for today’s increasingly mobile workforce. The company has more than ten years’ experience working with many medium to large sized businesses, facilitating better collaboration for both internal and external users.
FCG is a Microsoft Gold Partner and RIM Alliance Member. FCG solutions are fully compatible with Microsoft Lync 2010 and Microsoft Office Communications Server 2007 R2.
Formicary is a leading provider of consultancy and integration software to the financial services industry. We specialise in implementing, augmenting and building integrated technology solutions that streamline business processes in the front, middle and back office for clients ranging from tier one investment banks to hedge funds and fund administrators. Our strategic business focus combined with in-depth expertise in areas from legacy computing models to cutting edge technologies helps clients improve their productivity, performance and return on investment. Founded in 2000 in the UK, the company has offices in Europe and North America.