DataCentred has secured a £500,000 loan from Barclays which has been matched by a further £500,000 from existing investors, including The Greater Manchester Combined Authority and Jon Moulton.
The funding will allow DataCentred to build on its position as the UK’s leading provider of data centre and open-source computer processing and storage systems allowing the business to expand their OpenStack infrastructure and grow the workforce.
DataCentred was established in 2012 by Dr Mike Kelly, a pioneer in the data centre sector. The companies’ growth has been underpinned by the rise of Big Data, rich content delivery and hyperscale end-user applications, which are driving substantial growth in the demand for cloud compute and storage capabilities.
In addition, public and private sector organisations are also transferring ‘everyday’, large scale applications into an environment, where they can be scaled rapidly on-demand, and easily accessed by the wider public. The company is capitalising on these fundamental market drivers and seeing substantial usage and revenue growth as a result.
Dr. Mike Kelly, DataCentred’s founder and CEO said: “DataCentred has been well supported by our initial investors to date, and the opportunity provided by Barclays’ innovative finance, allows us to move rapidly to fund a significant expansion of our cloud.
“This investment, along with an additional £500,000 from our existing investors allows us to make a substantial step up in the range of services we are able to provide our core government clients, and to continue to develop the profound capability of our cloud team.
“As the business grows, our ability to access a wider range of capital will be key to our plans for substantial, sustained growth. We look forward to working with Barclays now and in the future, to develop our business.”