A minority investment from LDC has valued Aspire Technology Solutions at £85m.
The IT managed service and cyber security provider was founded 15 years ago by CEO Chris Fraser (pictured).
The company now has multiple offices in locations including Gateshead, London and Stockton-on-Tees, and employs more than 200 people.
Aspire expects to create more than 150 north east jobs across its HQ based at Gateshead Quays, and a new base at Fusion Hive, a business and innovation centre based on Stockton’s Northshore.
Aspire delivers leading technology solutions across a range of applications including cloud, connectivity, voice, technical support, and cyber security.
The business has scaled rapidly with revenue rising to £30m in the last 12 months of trading, growing more than 48% over the past three years.
Fraser said: “Working with an investor that’s on our doorstep in the north east was important to us. LDC has a history of supporting businesses just like ours to grow.
"The investment marks a new chapter for Aspire which will enable us to move to the next level.”
Gareth Marshall, Partner and Head of North East at LDC, added: “Aspire’s growth, especially over the past three years, is a true testament to the ambition of Chris and his team.
“We see an opportunity to support the growth of Aspire across the UK and we’re working with the management team to deliver on this.”