Internet firm lands funding package from private equity firm
Manchester internet firm Vaioni has received funding from a growth capital package.
Panoramic Growth Equity has announced that it has invested in a multi-million pound growth capital package from its second fund.
Founded by Sachin Vaish in 2008, Vaioni aims to disrupt the SME and mid-markets with its award-winning connectivity and WAN pproducts.
The firm uses its National Ethernet Platform to connect 250,000 postcodes across 100 UK cities and towns with 100Mbps – 10Gbps internet speeds, including strategic relationships with all the top UK Carriers to reach locations outside of its own network.
Sachin Vaish, founder and managing director, said: “Vaioni has scaled significantly in recent years, and we are incredibly proud to be recognised not only as award winning, but as a credible and trusted business partner.
“Receiving this investment from Panoramic will enable us to accelerate the growth strategy.
“This includes the rollout of our software defined network strategy, bringing first to market network automation direct to our customers and enhancing the product range with disruptive unified communications, internet security and cloud, whilst strategically entering into new markets and driving our people strategy, who are the heart of our business.
“Our goal is to become the digital transformation partner of choice for our existing and new customers and we look forward to working closely with the team at Panoramic.”
David Wilson, Partner at Panoramic, said: “We are delighted to support Sachin and the rest of the team at Vaioni to help them continue their growth journey.
“We have been particularly impressed by the growth that Vaioni has achieved to date, the strength of the management team and the opportunity for Vaioni to expand its network across the UK. We are excited to be involved and will now take an active role in helping the business grow further.”
David Wilson will join the Vaioni Board as part of the agreement.
Panoramic’s investment into Vaioni was led by Partner David Wilson and supported by Investment Manager, Jake Wilson.
Panoramic were advised by David Easdown and David Hayes of Knights plc (legal), Lyn Calder and Lauren Malcolm of Anderson Anderson Brown (financial), and Chris Jagusz of Sun Hill advisory (commercial).
Management were advised by James Wild and Christian Hitchen of RSM and Hill Dickinson (legal).
James Wild, corporate finance partner at RSM, said: “The technology sector in the North West is booming, and it was great to support an ambitious connectivity business with raising equity investment.
“The investment in the VEN network and product range enhancement will allow Vaioni to accelerate its growth and build on its already successful business model.”
