Beanstalk Management, the leading corporate finance advisor specialising in business divestitures and raising finance, has successfully concluded a venture capital investment on behalf of PrismaStar Inc. Selected as exclusive advisor, Beanstalk Management has drawn on its unique technology sector expertise to complete the £2 million investment with venture capital specialists Octopus Ventures Ltd.
Founded in 2005, PrismaStar is a software as a service (SaaS) business that uses patented consumer guidance technology to help consumers find the very best products and services, personalised to their own individual needs. The company also provides analytics and market research data to retailers and product manufacturers.
"PrismaStar has some very effective technology for product search and the challenge I set for Beanstalk was to raise venture capital investment for our commercialisation as quickly as possible," commented PrismaStar's CEO, Joshua Tabin. "Beanstalk exceeded my expectation and despite difficult economic conditions they secured numerous competitive term sheets within just eleven weeks. Beanstalk went on to expertly manage the due diligence process with pace, care and professionalism. Raising venture capital is demanding, but, Beanstalk made the process as pain free as possible and their contribution will have a major impact on the success of our start-up."
Alan Wallace, of Octopus Ventures Ltd commented, "We are very pleased to have completed this investment in PrismaStar. As the investor, it was encouraging to know that PrismaStar was being advised and supported by Beanstalk Management. Beanstalk provided comprehensive investment documentation and their hands-on approach prepared the company exceptionally well for our investment."
Taylor Wessing LLP acted as legal advisers to PrismaStar. "Beanstalk introduced me to PrismaStar and Taylor Wessing represented them throughout their sale process," commented Simon Walker, Partner at Taylor Wessing. "This was a complex cross-border VCT investment with advisors representing PrismaStar and Octopus Ventures both in the UK and US. Beanstalk's team played an invaluable role during both the due diligence and contract negotiations to ensure the investment completed efficiently and smoothly. Their determination to secure funding for PrismaStar demonstrates a results-driven approach to corporate advisory and I have no hesitation in recommending their work."
"PrismaStar is a fantastic company who have come up with a novel solution to solve a genuine problem for both consumers and retailers. They will benefit enormously from Octopus' investment and this will help them to commercialise their software and fulfil their potential," said Beanstalk Management Director, Matthew Byatt. "The funding offers we received for the business demonstrates the underlying potential of the technology and the capability of the management team. We are thrilled for PrismaStar, Joshua and Octopus."
For further details contact:
Matthew Byatt, Beanstalk Management
Telephone: +44 207 193 3699
Beanstalk Management is an innovative corporate advisory house specialising in the cleantech, consumer and high tech sectors. Founded in 2005, Beanstalk are industry experts in buying and selling businesses, raising finance and strategy consulting.
This press release was distributed by ResponseSource Press Release Wire on behalf of Beanstalk Management in the following categories: Consumer Technology, Business & Finance, for more information visit https://pressreleasewire.responsesource.com/about.