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SubHub Closes New Funding Round - Simon Murdoch, former MD of Amazon Europe, Joins as Chairman

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Posted 15th October 2009 at 08:11 AM by subhub-mark

SubHub, the leading platform for building money-making content and membership sites, has announced the closing of its successful Series A funding round.

Led by commercial funder, Finance Wales, alongside prominent technology sector investors including Simon Murdoch and David Hulston, the funding will enable SubHub to expand on its global category leadership by enhancing its website building and monetization tools, and by offering a range of service options at multiple price points.

“These new funds will help us to accelerate faster, and with Simon Murdoch and David Hulston joining our board we’ll be able to benefit greatly from their substantial experience building fast growing internet and technology businesses,” said Miles Galliford, SubHub co-founder.

Combined with earlier funds raised by the company from its founders, as well as grants and loans from the Welsh Assembly Government and other sources, this new funding round brings total funds raised by the company to more than $1.2 million. Galliford and co-founder Evan Rudowski continue as the company’s largest individual shareholders and as key management.

SubHub makes it easy for anyone to build and manage a professional content website, and to make money from their content via membership and subscription; paid downloads; advertising; affiliate; ecommerce and other options. SubHub is a turnkey, hosted and managed service, requiring no technical skill and enabling content creators to do what they do best -- creating great content and marketing it to their target audiences.

Customers pay a monthly or annual fee to use the SubHub platform, and can purchase additional support or services. SubHub offers its service globally, with the majority of customers in the US and UK.

“Everyone today is talking about content monetization, but SubHub has been providing solutions in this space for years,” said Murdoch, a serial entrepreneur whose other investments have included LoveFilm, Shazam, Betfair and StormForward, a website optimisation consultancy. “I am pleased to have been part of this funding round and I’m excited to play an important role as chairman in helping the company to grow.”

Also joining the board as a non-executive director is David Hulston, who was a founder-director of Scipher plc and was CEO of QED Intellectual Property Ltd, the leading provider of intellectual property commercialisation and management services. Hulston has continued as a technology investor, and is currently chairman of Datpresenter Ltd and Chaddleworth Software Ltd. He is also a member of Xénos, the Wales Business Angel Network.
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