Outsourcery has raised a further £4m to provide working capital to support its rapid growth. As the funding round was oversubscribed, the Company may elect to raise a further £1m. This financing round included investments by both individual and institutional investors.
The Company continues to experience strong growth in demand for its integrated cloud-based services via its growing number of partners and their end-customers. Outsourcery’s partners include IT and communications service providers and systems integrators of all sizes. The demand for Outsourcery’s cloud-based services has been particularly strong in the enterprise, large corporate and public sector markets.
As end-customer awareness grows, new partners with small and medium sized end-customers are increasingly engaging to integrate cloud-based IT and unified communications solutions into their product mix. This enables these partners to both protect their existing end-customer relationships and add new recurring revenue streams.
Piers Linney, Co-CEO of Outsourcery, commented “We are making significant progress in establishing our channel strategy, working closely with a range of partners to support them with their go-to-market plans. Our solutions remove the need for businesses of all sizes to own and manage their IT and communications infrastructure.”
“The additional funds will enable us to maintain our rate of growth and consolidate our first mover advantage in this expanding market. As our business develops we continue to achieve notable operational milestones including securing ISO 9001 (Quality Management) and ISO 14001 (Environmental Management) to go with our existing ISO 27001 (Information Security). We are also now able to deliver CESG IL2 accredited solutions across our whole service offering for public sector organisations.”
“We are building a business for scale – a key requirement of the CSP business model. We now have the people, platforms, accreditations and processes in place to offer our partners and their end-customers an extremely high quality, integrated and complete offering of cloud-based ICT services.”