NorthEdge invests in Cloud Technology Solutions
Cloud Technology Solutions is eyeing international expansion following investment from NorthEdge Capital.
The Manchester-headquartered firm is a Google Premier Partner and provides cloud transformation services and software products to businesses. To date it has migrated more than seven million users to the ‘cloud’.
NorthEdge has taken a significant stake in the firm and backed the incumbent management team led by CEO James Doggart, CSO Steve Dobson and CFO Hannah Liptrott.
CTS has undertaken transformation projects for Ladbrokes-Coral Group plc, HomeServe plc, Roadchef and recently worked with Manchester City Council, migrating over 7,000 local authority workers to Google G Suite.
Its revenue has tripled over the past three years and it has secured several new business wins this year and expanded its city centre offices at Lowry House.
The business now employs over 100 staff across its offices in Manchester, Belfast and Edinburgh. Staff are treated to annual holidays to Majorca and have an unlimited holiday allowance.
Doggart, in foreground, with Liptrott and Dobson
“I’m really excited about the investment from NorthEdge. The timing is perfect given the growth of the market,” said Doggart.
“It will allow us to take advantage of the global market demand for cloud, our plans have us doubling our workforce over the next three years.
“Our technology is currently used in 74 different countries, this funding means that we can push on even further globally, whilst continuing to accelerate the development of our products to offer industry defining value to our customers and partners.
“This investment will allow us to take our business to the next level and keep pace with the global investments of public cloud providers such as Google.
“This is an exciting time to be in the cloud space and we are now well-placed to push on for growth.”
NorthEdge’s investment will provide support for the business to continue the development of its own software products as well as providing development capital to accelerate growth through complementary acquisitions in machine learning, artificial intelligence and data analytics.
GCA Altium provided corporate finance advice on the deal. Its managing director Simon Lord said: “Cloud Technology Solutions is a fantastic example of an entrepreneur backed company identifying early how the cloud can act as a positive catalyst for businesses and organisations.
"The company has developed a SaaS driven business model and assembled an impressive team of experts to serve its growing corporate client base.
"The management, led by James Doggart is generating significant and profitable revenue growth and NorthEdge is an ideal partner to work with the business to continue its development.”