UC&C secure £250,000 from Northstar Ventures’ Accelerator Fund
Communications wholesalers UC&C have secured £250,000 from venture capitalists Northstar Ventures’ Accelerator Fund.
The funding will be used to scale up its Sunderland-based operations, from which it provides unified communications services to UK businesses.
The firm has developed a cloud based platform called OpenScape alongside Unify, formerly known as Siemens Enterprise Communications.
Such technology has traditionally only been available to large, blue chip organisations who have the means to fund complex installations, but UC&C has developed a solution for SMEs at a lower monthly subscription rate.
Joe Olabode, director at UC&C said: “The traditional on-premise telephone PBX market is on the decline. “The bar has been raised – customers now want a complete communications package, they want to be able to work from anywhere and on any device, yet they want these services to be delivered through a single application regardless of the device used.
“The management at UC&C have already invested £200,000 into the platform to get it market ready, and we are delighted to be working with Northstar Ventures.”
Rebecca Roberts, investment manager at Northstar Ventures, said: “I am really excited to be working with UC&C – the service it is offering is highly flexible and can easily be tailored to individual client’s specific needs ensuring they get the service required.
“We have also introduced a non-executive to the board, Neil Francis, who is going to bring a wealth of knowledge and really help the company achieve its goals.”
Carl Swansbury and Abu Ali at Ryecroft Glenton Corporate Finance advised UC&C on the successful fund raising.
Mr Ali, who introduced the deal to Northstar Ventures, added: “The shareholders of UC&C have a very exciting plan and with the support of Northstar Ventures we can see the business going on to be a huge success.”
The Finance for Business North East Accelerator Fund is backed by the European Regional Development Fund and the European Investment Bank.