Reputable investors TEIM Ventures and the private equity arm of the Oppenheimer family managed by Southern Cross Capital, have invested in fast growing South African online marketing company, incuBeta, which won the 2005 TT100 award for Most Promising Emerging Enterprise.
incuBeta offers online marketing and technology solutions for the international market, primarily the USA and the UK. The company is the brainchild of entrepreneur Vinny Lingham who has just spoken at an International Online Marketing conference in Boston (PubCon) and the Search Engine Strategies Conference in London. The Cape Town headquartered company has increased from four to 50 employees since its inception in 2003 and its major clients include Yahoo, eBay and Expedia.
"We are extremely excited about the involvement of TEIM Ventures and Southern Cross Capital," says Lingham. "Their investment will ensure that incuBeta is able to grow organically and participate more competitively in the international online industry."
Furthermore, the founder of TEIM Ventures, Giles Douglas, has taken over the position of CEO at incuBeta to guide the company in its next phase of growth. His skill and expertise will add to the already remarkable intellectual property of the company and maintain its lead as one of the most internationally competitive online marketers based in southern Africa.
"incuBeta will be one of the most exciting South African companies to observe over the next two years," says Douglas, incuBeta`s new CEO. "We have an excellent team of people and I believe we have the capability to compete seriously in the international online marketing arena. My focus will be to build the business into one of the leading performance-based Internet marketing companies globally."
TEIM Ventures is a South African-based venture capital company which also holds controlling stakes in SAICOM, South Africa`s leading GSM payphone operator, property development company KYA Towers and Moviworld, which co-produced the Oscar-winning film Tsotsi.
The private equity arm of the Oppenheimer family, which previously co-invested with TEIM Ventures in SAICOM, holds various other investments in South Africa in industries including logistics, lime production and smart card technology, among others.
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