Cloud and cybersecurity provider lands investment to accelerate growth
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METCLOUD, the cloud and cybersecurity provider, has secured £1m funding to accelerate its growth plans.
Launched in 2017, Birmingham-based METCLOUD is helping organisations to accelerate the adoption of next generation technologies such as artificial intelligence, machine learning and data analytics.
Through the investment, METCLOUD will accelerate its growth by increasing its sales and marketing capacity, as well as make multiple technical hires.
The investment will allow METCLOUD to add key senior appointments to the board in order to support CEO, Ian Vickers, and his management team.
METCLOUD offers its clients a host of tailor-made cybersecurity packages, predominantly targeted at SMEs.
The company recently secured a significant Innovate UK grant to undertake a two-year project in partnership with Birmingham City University to develop AI and ML deep learning algorithms.
The funding came from Midlands Engine Investment Fund (MEIF) West Midlands Equity Fund, managed by Midven, part of the Future Planet Capital Group, while
METCLOUD has been advised by Colin Strevens of Heligan Group.
Ian Vickers, CEO at METCLOUD, said: “METCLOUD has the potential to become a major international brand and this initial investment from Midven and harnessing the Midlands Engine Investment Fund is a prime example of why this fund was set up – to transform small innovative businesses that are looking to scale up which can then make significant contributions to the local and national economy.”
Surjit Kooner, director at Midven, said: “METCLOUD is a great opportunity to invest in a company with a high level of expertise and knowledge in their market. As the adoption of cloud environments grows, we are witnessing an exponential surge in cybercrime. METCLOUD is able to offer key services and strategic advice to its customers to help them understand their IT infrastructure and ensure they get the best setup for their needs. METCLOUD already has a strong customer base and with further development in progress to enhance their cybersecurity offering, it has created an exciting opportunity for us to invest and accelerate growth. We look forward to working with Ian and the team.”