Paris-based online conferencing and virtual event company Arkadin has raised €20 million (£17.9 million) in a private equity placing, including €5 million (£4.47 million) from UFG Private Equity, which joins Apax Partners and CDC Innovation as a major shareholder. Founded in 2001 and now the third-largest conferencing provider, Arkadin will use the new capital to fund further expansion, particularly in South America. It plans opens its first Brazil office this year.

Arkadin currently has offices in 22 countries across Europe, North America and Asia and made revenues of €70 million (£62.7 million) in 2008 - a 30 percent year on year rise—and pre-tax profits of €12 million (£10.74 million). Founder and CEO Olivier de Puymorin says the company needs to expand globally if it is to maintain its revenue growth target of 25 percent—something you don’t see too much of in these credit-crunched days… Release (pdf).