Phorm in talks with 'other ISPs'
Behavioural advertising firm Phorm raises more cash to fund it as it looks to sign up an ISP to its web traffic scanning service.
Phorm is in talks with more UK-based ISPs, according to a statement from the behavioural advertising firm, as it announced 15 million in new funds.
Despite launching its new consumer product Discover last week, controversial Phorm has yet to deploy its deep packet inspection system with any internet service provider in the UK.
Carphone Warehouse and Virgin Media have agreements with the firm, but BT is the only UK ISP to trial the Webwise traffic scanning ad system. However, BT hasn't yet rolled out the service commercially, and the only current trial is in Korea.
Phorm said it would use the new cash to continue "its discussions with other ISPs both in the UK and internationally."
Kent Ertugrul, chief executive of Phorm, said in a statement: "With the addition of these new funds, we are well positioned to deliver strong growth as we engage with ISPs across the globe with a view to deployment in multiple markets."
Raised by issuing over three million new shares, the 15 million in new funding will certainly help the firm carry on its work, as it's yet to make much out of its products over the two years since its launch into the UK.
Click here to read our short history of Phorm in the UK.
-
Network Rail is battling a torrent of cyber threatsNews FoI requests have revealed that the rail operator is under increasing attack, as cyber criminals set their sights on the transport sector
-
Energy providers are flying blind thanks to unpredictable AI data center demandsNews Research from Capgemini has found that uncertainty, speed constraints, and rising system complexity are leaving firms struggling to predict future consumption
