InfoBasis secures second round funding from Oxford Capital Partners

Skills management experts InfoBasis has announced the completion of a second round of venture capital funding from high-tech investment firm Oxford Capital Partners.

InfoBasis will use the investment to expand internationally, initially into the USA, where the software house will open an office to service increasing demand for its skills management technology. The companyís platform, InfoBasis Enterprise Skills Infrastructureô, is already used by Microsoft. Other US corporations have shown interest in the technology, which enables organisations to understand, develop and deploy the skills of their personnel.

This second round of funding comes on the back of a first tranche, also from Oxford Capital Partners, in August 2004. ìWe have been delighted with the growth shown by InfoBasis since our first investment,î said Oxford Capital Partners Investment Director David Mott. ìInfoBasis has more than doubled its workforce while remaining profitable, has increased revenue per employee, and won significant new business.î The company has experienced substantial growth since its foundation in 2001, with revenue doubling year-on-year for the past two years.

ìInternationally, public and private organisations are facing pressure to understand and develop the skills of their personnel,î added David Mott. ìThe benefit of InfoBasisí software is that it enables senior executives to incorporate Human Capital Management in their strategic and operational decision making. InfoBasisí software can bring substantial benefits to any organisation with more than 50 people. On both sides of the Atlantic there is a burgeoning market for skills management software, and InfoBasis is in a leading position to capitalise on this growth.î Oxford Capital Partners was recently nominated for the Investors Allstars 2005 Venture Capital Fund of the year.

InfoBasis CEO Ashley Wheaton said: ìThis second round of funding reflects the success of InfoBasis to date, and Oxford Capital Partners is committed to accelerating the international adoption of our software. David Mott has been an invaluable asset as a director over the past 12 months, and we look forward to working together as we continue to grow.î