International CSP Cloud Technology Solutions (CTS) has received private equity funding from NorthEdge Capital. Both companies are based in Manchester.
"NorthEdge are a fantastic company who have a track record of supporting Northern-based tech companies, investing in like-minded businesses and management teams who have real ambition, and they saw this in CTS," said the cloud solutions firm and Google partner.
It was founded in 2008 and has additional offices in Belfast and Edinburgh. It employs over 100 staff, and has customers including Ladbrokes-Coral Group, HomeServe, Roadchef and Manchester City Council, where CTS supports 7,000 workers working with Google's G Suite office collaboration platform.
CTS offers its own cloud migration tool in the form of CloudMigrator and its user management software CloudPages. The company says it will use NorthEdge's backing to develop more of its own software products.
The company says it has enjoyed 83% sales growth over the last three years. The investment will also be used to double the workforce and grow sales further over the next three years, said CTS. "It's important to us that the company is able to deliver this with an investor that understands the business, how we work and our culture," it added.
James Doggart, CEO at CTS, said: "This could not have happened at a better time for CTS given the growth of the market and our company. It will allow us to take advantage of the global demand for cloud, and really put our plans into action."
Doggart said the funding would allow the firm to further develop its public cloud offering. CTS says its technology is already used in 74 countries.
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