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Spam busters going global

Auckland anti-spam specialist SMX has raised $890,000 to take its e-mail filtering service to the global market.

Half the money comes from the Endeavour i-cap fund, part of the Government?s Venture Investment Fund, which contributes $1 for every $2 raised by private investors to sink into New Zealand companies.

Endeavour i-cap takes a 10 per cent stake in the company in the deal finalised earlier this month. This gives the Government just under 3 per cent of SMX.

At the same time, SMX sold another 10 per cent of the company to three groups of angel investors, who contributed an equal amount of money.

Managing director Jesse Ball says SMX will use the money to take its SecureMX Mail Scrubbing product overseas. Part of the cash will be spent on marketing, part to buy servers and space in overseas datacentres to process customers? e-mails. SMX has no plans to establish offices overseas.


» stuff.co.nz - 20-11-2006

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