NorthStar Equity Investors, a venture capital firm that specialises in creating and building early stage technology based businesses in the North East of England, has led a GBP850,000 investment round in The WorkCast Corporation.
The investment round was made to support the development of WorkCast’s webcasting technology and to boost sales and marketing.
Running on WorkCast’s webcasting platform, Webcast Manager allows users to create, edit and distribute business webcasts from one solution. Customers can produce webcasts and webinars by recording a variety of elements such as web meetings, PowerPoint presentations, webcams and video conferences. The entire recording, including audio, can then be used as a webcast that can be integrated into standard business processes and communications.
WorkCast chief executive Gerard Callaghan says: "This is a major vote of confidence from NSEI in our product and our company. In this recessionary time, to have successfully attracted such significant investment is a tribute to the work that has already been done and a huge boost for further growth and development. We look forward to working with our new partners as we go forward.”
Michelle Cooper, investment manager at NSEI, says: "Our investment in WorkCast demonstrates our confidence in the management team and their ability to further develop their innovative solutions. Our proof of concept team saw the potential in WorkCast earlier this year and invested GBP60,000 initial seed funding. We are excited about WorkCast and their position within a rapidly growing industry sector, and with the introduction of their Webcast Manager solution, WorkCast is well positioned to be a significant player in the online business webcasting market."
