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Lucky UK cloud SME receives massive growth fund investment

Small UK cloud firm Skyscape has announced it is receiving funding from Business Growth Fund (BGF), an organisation dedicated to helping SMEs in the country.

The BGF £4m investment is intended to help the 2011-founded company grow its presence in the public sector market.

According to Skyscape, it is growing at a rate of 20 per cent and its annualised recurring revenue is approaching the £10m mark.

The firm says the BGF funding represents the confidence it has in its business.

“BGF is the ideal investment partner to support the ongoing growth of our market-leading, assured cloud infrastructure business,” claimed the company’s CEO Phil Dawson.

“[We are] singularly dedicated to helping UK government achieve its digital agenda; delivering better, user-centric public services through more affordable and Agile IT,” Dawson added.

The SME claims the shift to cloud computing is a key factor in Whitehall’s ICT strategy and it intends to capitalise on this.

Skyscape dedicated to cloud use in public sector

Skyscape has been very vocal on public sector IT issues – in the past, it has banded together with other smaller businesses to write a letter of recommendations to improve G-Cloud.

Besides this, the firm released research that claimed the cloud solutions are much cheaper than their on-premise alternatives, urging the government to take note.

“It is a young business and one that is growing very rapidly due to its ability to deliver a unique cloud service model to a developing public sector market,” claimed James Austin, BGF investment director.

“Skyscape has been build for significant scale, backed by a proven management team with very impressive track-records and a desire to grow Skyscape in tandem with the government’s policy for wider adoption of cloud-based services,” he added.