Shape

Cloud and connectivity service provider secures £10m BGF investment

Investment news
18.01.2017.

Virtual1, a London-based cloud and connectivity service provider, secured a £10m investment from BGF as it continues to pursue its growth strategy.

Virtual1 delivers cloud and connectivity services exclusively to the wholesale market, aggregating its own cutting edge London-based network with networks from other carriers onto a single scalable platform. Founded in 2007 by CEO Tom O’Hagan, Virtual1 featured in the Sunday Times Tech Track 100 for three consecutive years and generated revenue close to £18m in 2015/16.

BGF’s funding will be used by the company to invest in additional network infrastructure, and supports its longer-term growth plans.

Steve Scott, former COO of Bridgehouse Capital, continues to be Virtual1’s Non-Executive Chairman, and Phil Male (formerly Chief Strategy Officer at Cable & Wireless) joins the board as Non-Executive Director following an introduction by BGF. During 2016, Virtual1 has strengthened its senior team with the appointments of Jim Sewell, former Group Sales and Marketing Director at Alternative Networks, as a non-executive board member and Magnus Batsvik-Miller as Chief Financial Officer. Most recently Magnus was Group Finance Director at World First.

The investment in Virtual1 was led by BGF’s Chris Hodges, George Tsangarides, Thomas McDonnell and Michelle Wilk.

Related Articles

November/2018 | London & South East

Fluidic Analytics secures £24m funding package

Fluidic Analytics, a Cambridge-based life sciences business, has secured a £24m funding package to continue its research and development plans …

October/2018 | London & South East

BGF leads $17m investment into LoopMe

LoopMe founders Marco Van De Bergh and Stephen Upstone LoopMe has announced a further $17 million investment led by BGF, …

November/2017 | Tech, Media & Digital

BGF backs Medigold Health

Medigold Health, a leading provider of occupational health and corporate wellbeing services, has received a £9.5m investment from BGF to …