Webjam has secured £1m of institutional investment to build revenues for its social network offering.

The company has gained the backing of I-Source which expects that its investee will be able to bring in stable revenue streams by the end of the year.

Webjam is targeted at businesses that want to reach consumers through social networks. It allows the building of customisable social networks, with the flexibility to control what is shared with whom.

The company purports to be ‘the next generation of social publishing platform’ extending ‘sharing’ to all aspects of social networks by allowing users to replicate any part of webjams created by others.

Yann Motte, co-founder and chief executive officer of Webjam, said: “With I-Source support, we will continue to execute our vision to enable communities with a purpose. 

“Webjam is built around the democratic premise that anyone should be able to build and manage their own social networks, regardless of whether they are an individual, corporation or charitable cause. 

“As such we differentiate ourselves with features like our unique replication facility which provides the tools for organisations who want to engage and empower their communities to spread the word.”

Eric Harle, managing partner of I-Source, added: “With the single aim to back the hottest technology start-ups with the biggest potential for growth in Europe, Webjam remains a key investment for I-Source. 

“By December we anticipate that Webjam will have secured stable revenue streams around fees, premiums and advertising as web 2.0 services become established in the minds of businesses and organisations as an essential part of reaching and interacting with their customer base.”