Web Host UKFast Receives Additional Funding

21 April 2016

Web host UKFast has received £40 million in additional funding to help it move "to the next level". UKFast, which is based in Manchester, United Kingdom, was established in 1999. The company prides itself on “helping businesses grow online through speed and innovation” and offers a wide range of services including managed hosting, colocation, and cloud options. The new funding has been provided by the UK’s Royal Bank of Scotland.

The new funding will enable UKFast to build on the “double-digit” growth it has experienced over the last number of years. The company currently caters to 5,000 customers globally and it has earned £10 million in “recurring revenues” since 2014. UKFast will initially receive £30 million funding with an option for an additional £10 million at some stage in the future. The company may also be planning a number of acquisitions.

"I'm incredibly proud of the way we are building UKFast,”explained UKFast’s Chief Executive Lawrence Jones in a press release. “Our focus on customer service and the experience we provide helps us build lasting relationships with our clients. In a rapidly growing and competitive market, our clients know we are at the end of the phone whether it's Christmas Day or 3 o'clock in the morning. We are an extension of their business.”

Do you know of any other companies that are receiving additional investment? Let us know the details. Add your comments below.


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