VCT News
Beringea Portfolio Company Espresso Education Ltd. makes Sunday Times 'Tech Track 100'
25 September 2006 - London - Espresso Education Ltd., the leading provider of digital teaching resources to schools across the UK, earned a spot on the 'Tech Track 100 League Table', published by The Sunday Times yesterday. The London-based company, which delivers video and multimedia resources to over 8,000 British schools, is a portfolio company of Beringea's two venture capital trusts: ProVen VCT and ProVen Growth and Income (PGI) VCT.
Espresso has experienced a period of rapid growth since Beringea's initial investment in 2001. The company, which was founded in 1997, has received almost £3 million in funding from ProVen VCT and PGI VCT. This includes an investment of £950,000 made earlier this year to support the acquisition of Netmedia Education, the market leader in the development of web-based learning environments.
The Espresso group now consists of three complementary businesses, namely Espresso Education, Netmedia Education and Education Media Delivery (the leading content delivery service for local authorities and schools in the UK which was launched in 2005). Espresso offers customers a unique end-to-end educational solution: creating and delivering curriculum-based content to a personalised learning portal, including systems interoperability and single points of service delivery and support.
Beringea Managing Director Stuart Veale was delighted by Espresso's inclusion in the Tech Track 100. "Espresso is the UK market leader in the creation and delivery of digital educational content. It has achieved impressive growth to date and I confidently expect this to continue in the future. I would like to congratulate Espresso's management team on this well deserved recognition of their success."
About Beringea
Beringea is an international venture capital firm with offices in London and Detroit. In the UK Beringea manages ProVen VCT, ProVen Health VCT, ProVen Growth & Income VCT and Global Rights Fund II. Beringea launched its first VCT in 1996, making it one of the most experienced VCT managers in the UK. ProVen Growth & Income and ProVen VCT are highest performing VCTs of their launch years, respectively, according to www.taxefficientreview.com. For more information please visit www.provenvcts.co.uk.