Moulton invests as DataCentred raises £4m
Veteran investor Jon Moulton has backed a £4m fundraising for DataCentred, the Manchester business founded by Dr Mike Kelly – an early pioneer of the data centres sector and founder of Telecity.
Mr Moulton has joined the Greater Manchester Investment Fund, the North West Fund for Venture Capital, which is managed by Enterprise Ventures, and Dr Kelly.
The funding will enable DataCentred to complete its first site at MediaCityUK and continue to develop its Open Source cloud computing platform. The expansion plans are forecast to create around 270 jobs over the next five years in Greater Manchester.
The GMIF, which invested £1m in an initial financing round in 2013, is now contributing a further £1m. Jon Moulton and The North West Fund have each provided £750,000. Dr Kelly has invested £500,000.
DataCentred was established in 2012 by Dr Kelly, a pioneer in the data centre sector. Big Data, video-on-demand and compute-heavy applications are driving substantial growth in the demand for compute and storage capabilities.
The company aims to capitalise on these fundamental growth drivers and address the colocation and computing requirements of the 80% of UK businesses who are currently managing their computing estates in-house.
Former KPMG partner Bill Enevoldson, chief investment officer for the Greater Manchester Combined Authority, will be chairman of the company.
Dr Kelly said: “The funding package we announced today from the Greater Manchester Investment Fund, The North West Fund for Venture Capital and Jon Moulton is hugely significant for the company.
“It enables us to complete our first site and deliver cloud services for our clients. It also allows choice to clients and operators in rebalancing the UK’s Internet infrastructure towards the North.
“With still only 20% of companies using third party data centres at all, there is a huge opportunity for an operator with the right balance to develop a business that helps companies improve their efficiency and profitability.”
Jon Moulton founder of Perscitus Advisers said: “We always look to invest in an opportunity in which we see high market growth, management commitment and management capability. We believe that DataCentred is one of these happy combinations, and we look forward to our faith and early stage commitment being rewarded by DataCentred’s future success.”
Salford’s mayor Ian Stewart said: “This is investment in jobs and in MediaCityUK to meet future business needs through cutting edge technology. I’m delighted to welcome this to Salford.”
Mike Blackburn, chairman of the Greater Manchester Local Enterprise Partnership, added: “GMIF was an early supporter of DataCentred and we are delighted to contribute further finance to help accelerate its expansion. We are also pleased that our backing has attracted further funding to the region.”
DataCentred was advised by Stuart Moss and Alex Wilson of Rickitt Mitchell.Back to news