UK software start-up Zygon Ltd has recently secured an initial financing deal worth 4m pounds ($6.1m) from venture capitalist 3i and microprocessor giant Intel Corp. Zygon’s software enables companies to create and deploy online product catalogs – a process that analysts say is crucial to the successful execution of an e-commerce strategy. Geoffrey Moore of the Chasm Group recently identified the lack of online cataloging products as one of the key bottlenecks limiting ecommerce. Zygon launched its first products in June (CI No 3,679).
Even with this strong internet-related potential, it took Zygon’s founder, Peter Landale, two attempts to get the money. When he first approached 3i he was turned away due to his lack of business credentials. So he set about building a management team, beginning with James Dobree, the ex-head of strategy for the Europe Middle East and Africa division of database giant Oracle, as CEO. Dobree then tempted John Salter, a director of Oracle Europe, and Sajeeve Bahl, a VP of sales with ERP company Baan, to join him. That combination, says James Walker of 3i, is compelling, and Zygon is now viewed as one of 3i’s hottest prospects.
