Ronald Cohen's boost for Cloud.IQ

Sir Ronald Cohen's Bridges Ventures yesterday invested in the technology company Cloud.IQ. Bridges Ventures, the private equity firm which is behind businesses including The Gym, invested in the marketing technology business through its sustainable growth fund.

Cloud.IQ was founded seven years ago and is part of a cluster of digital businesses based in east London around the so-called Silicon Roundabout.

It has been developing technology for large companies to manage their marketing across text, phone, email, web, mobile and social media.

With the £2m investment from Sir Ronnie Cloud.IQ plans to roll out the technology to create packages to sell to smaller firms and not-for-profit organisations.

Eric van der Kleij, the chief executive of the government-backed Tech City Investment Organisation, which promotes digital businesses, said: "Bridges' investment in Cloud.IQ will help the company make marketing technology available to start-ups and entrepreneurs like themselves."