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Cloud and connectivity service provider secures £10m BGF investment

BGF News 01.18.2017

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.