Twelve Horses (www.twelvehorses.com), an Irish Internet company chaired by former chief financial officer of SmartForce, Mr Johnny Fortune, has just completed a $6 million private fundraising through private and institutional investors.

The funding was arranged through Goodbody Stockbrokers, and amounts to around 20 per cent of the company's equity, placing an initial valuation on Twelve Horses of around $30 million. The company says it is likely to seek further funding.