Shares in Cloudbuy (LON:BUY), the developer of a leading e-commerce platform for buyers and sellers, shot up as it reported "pleasing" progress in its first half and a £1mln shot in the arm from a US investor.
The firm's Cloud-based applications are also used for company spend analysis, content management and big data.
The AIM-company said the six months to June 30 had seen "increasing traction" globally on its products - resulting in a strong pipeline of potential deals, which had a value of £51mln as at the end of June.
Chief financial officer David Gibbon said: "Focus in the second half of the year is on generating revenue from existing projects on a recurring basis and on closing new deals which will have a combination of project and recurring revenue."
The company added it was confident that the results for the full year will be in line with market expectations, but with a significant second half weighting.
Its prospects have also been bolstered with a subscription agreement struck with USA investor Roberto Sella, a former managing director at Morgan Stanley, and his affiliates.
Sella, the managing member of of LL Funds LLC, which has US$1.5bn under management, is subscribing for 5mln Cloudbuy shares at 20p each - for a total of £1 million.
He is now the beneficial owner of 10.675mln shares, or 8.3% of the share capital.
Cloudbuy also noted its applications have already analysed over US$1.5 trillion of spend and are being used by leading organisations around the world.
Shares added 13.58% to 23p but had earlier been 16% higher.