SIPHON set to accelerate growth with the backing of a substantial equity investment from Finance Wales
Cwmbran, 27th March 2015: SIPHON Networks Ltd (SIPHON), an award-winning, Cwmbran–based solutions provider of advanced voice and unified communications (UC) technology, has secured a substantial equity investment from Finance Wales.
Since it was established in 2009, SIPHON has achieved impressive organic growth, doubling its revenues year-on-year. The investment from Finance Wales will accelerate the next phase of its growth plan as SIPHON looks to increase its presence in the UK and Benelux, as well as expanding into other European markets.
“Securing this investment is a significant milestone for SIPHON and demonstrates Finance Wales’ confidence in our business model as well as in our professional and technical expertise. Finance Wales’ investment provides us with the capital to continue the rapid expansion of SIPHON and achieve a further step-change in our growth. A high-calibre team of knowledge workers is integral to our success at SIPHON and we expect an active recruitment drive over the next two years to keep pace with our growing business.” explained Steve Harris, co-founder and Managing Director of SIPHON.
Rob Smith, co-founder and Technical Director at SIPHON added: “As SIPHON has grown over the last 6 years, we’ve expanded our portfolio-offering to encompass Cloud Infrastructure and Cloud Services, as well as targeting the wealth of deployment and integration opportunities for enabling real-time communications within Microsoft UC environments. Steve and I decided that securing equity investment from a long-term backer would help us take SIPHON to the next level. We chose Finance Wales because they took the time to understand our business in depth and structured an investment that would act as a catalyst for our future expansion.”
Senior Investment Executive, Stephen Stolliday and Investment Executive, Leanna Davies structured Finance Wales’ investment. Commenting on the investment, Stephen Stolliday said: “SIPHON has a strong product portfolio supported by a comprehensive suite of professional services. It’s a combination that enables SIPHON to deliver innovative, end-to-end solutions to its world-class customer base. The company has an impressive management team with an enviable reputation and expertise across a broad range of UC value propositions. With Finance Wales’ backing, SIPHON is well placed to take advantage of an exciting time in the telecoms sector and scale up its operations.”
Leanna Davies added: “SIPHON has quickly established a notable reputation for enabling customer-centric, unified communications solutions, leading to an order book that’s a very healthy mix of new and repeat business. With its unrivalled combination of technical expertise, quality of support and distribution capabilities, SIPHON is well placed to continue delivering to customers’ high expectations. We are very excited to support and fund the company’s future growth ambitions.”
In 2012, SIPHON successfully acquired VCOMM Distribution in Newbury, boosting its warehousing and logistics facilities and enabling the rapid fulfilment of Customer Premise Equipment (CPE) contracts. The company has continued to enhance its portfolio, recently establishing a Microsoft UC Technology Practice.
SIPHON has won number of prestigious awards from its vendor partner community. Last month it was named Polycom Partner of the Year 2014 for EMEA (West) at Team Polycom 2015 in Orlando, Florida and in September 2014, SIPHON was named Partner of the Year by call recording vendor OrecX.
Founded in the UK in 2009, SIPHON is a leading European player in the innovation, delivery, integration and support of advanced Voice & Unified Communications technology. For more information please visit: www.siphonnetworks.com
About Finance Wales
Finance Wales was established by the Welsh Government in 2001 and provides commercial funding to small and medium-sized businesses throughout Wales to enable them to realise their potential for innovation and growth. The company is part of the Finance Wales Group and in 2013 -14 Finance Wales invested over £31.2 million through 201 debt and equity investments in growing Welsh businesses.
Finance Wales is currently investing a number of funds in more Welsh SMEs than ever:
The £150 million Wales JEREMIE Fund which aims to encourage effective investment in small and medium-sized businesses. The Fund is backed by the European Regional Development Fund through the Welsh Government and the European Investment Bank under the European Commission's Joint European Resources for Micro to Medium Enterprises (JEREMIE) initiative.
- The £40 million Wales SME Investment Fund which is backed by the Welsh Government and Barclays and invests in micro, small and medium-sized businesses.
- The £6 million Welsh Government-backed Wales Micro-business Loan Fund.
- The £10 million Wales Property Development Fund which makes loans to Small and medium-sized Welsh construction companies developing small-scale, non-speculative commercial and residential property.
- The £20 million Wales Capital Growth Fund - Launched in April 2014 and backed by the Welsh Government, the Wales Capital Growth Fund provides short-term loan funding to Welsh SMEs with a maximum repayment term of 18 months.
- The £7.5 million The Wales Technology Seed Fund - The five-year Fund is aimed at technology start-ups, university spin-outs and IP-rich companies to help them commercialise their innovative products and technologies and bring them to market
- The Finance Wales Group one of the UK’s largest SME investors which has invested over £370 million through more than 3,575 investments and manages funds in excess of £400 million.