Online marketing group earns further investment after expansion
Published: 19th November 2009
A national online marketing company has been rewarded for its growth by receiving a further significant investment.
Web Marketing Group (www.webmarketinggroup.co.uk) works with 800 businesses around the country to improve online traffic to their websites through link-building, copy-writing and website design.
The company has recently received an investment of £200,000 from South Yorkshire Investment Fund (SYIF) after meeting expansion targets set by SYIF.
SYIF made an initial investment of £300,000 into Web Marketing Group late last year to support its expansion into the region by establishing a new office at Acres Hill Business Park, Sheffield
In the first six months at the South Yorkshire site Web Marketing Group has installed 20 employees and is hitting their sales targets, achieving the criteria set to receive the latest tranche of funding.
Web Marketing Group, which was established in 2000, has enjoyed rapid growth, employing around 65 people from its offices in Harrogate and Peterborough, as well as Sheffield.
Dennis Engel, founder and managing director of Web Marketing Group, said: “The latest investment is a significant achievement for the company as it is an indication of how much we have grown in a short period of time.
“It also coincides with the company achieving record turnover and profit for the year ending June 2009. We are now looking to expand the number of sites we have around the country and increase the amount of staff we employ.
“The internet has enjoyed relentless interest and growth, even during the recession, and we are benefiting from this. The High Street might be suffering, but online marketing is expanding, continuing to be an efficient and affective way for companies to reach key customers.
“We work with big organisations such as Ernest Jones, Comet and Carphone Warehouse, but the bulk of our clients are small and medium sized enterprises who want to increase their search engine ranking.”
Debbie Sorby, portfolio manager at SYIF, added: “We are pleased to make this latest tranche of investment in Web Marketing Group. The company is expanding exactly as planned and we hope this latest funding will enable them to grow even further.
"It is another example of a company within the creative and digital industry which is thriving in South Yorkshire. They are in a sector which continues to grow despite the current climate and there are strong foundations now in place to help this continue.”
SYIF can provide seedcorn, loan and equity linked investments, ranging from £15,000 to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
For more information about South Yorkshire Investment Fund, please visit www.syif.com or ring 01709 386377.
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About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).