London-based SaaS firm secures significant investment to fund ambitious acquisition strategy
TelcoSwitch will use the funding from the independent asset manager BOOST&Co to support its growth plans and the recent acquisition of Scottish-based telephone provider SureVoIP.
London-based unified communications firm TelcoSwitch has secured a substantial investment to fund the acquisition of SureVoIP, the firm’s third acquisition in just seven months.
As part of this deal, TelcoSwitch will gain an Aberdeen office, its third regional office in the UK, and will incorporate the SureVoIP team into the wider TelcoSwitch Group, broadening the company’s presence in northern UK regions. Founder and managing director at SureVoIP, Gavin Henry, will also join the TelcoSwitch Group as its newly appointed chief information officer.
TelcoSwitch specialises in unified communications and enables organisations to communicate and collaborate using software that delivers voice, video, group conferencing, messaging, call recording and compliance solutions – all delivered through innovative monthly subscription models.
This investment from BOOST&Co will support the acquisition of SureVoIP, which will enhance TelcoSwitch’s status as an enterprise network carrier, while also increasing the firm’s resilience via data centres in London and Edinburgh. The deal will also add valuable intellectual property to the TelcoSwitch portfolio, increasing the firm’s opportunity to provide more residential-based services as the UK moves towards the switch off of all public switched telephone networks by 2025.
BOOST&Co began working with TelcoSwitch in late 2020, supporting the acceleration of the firm’s ambitious expansion plans. The lender has now supported TelcoSwitch with two further acquisition opportunities, one of which is SureVoIP.
BOOST&Co has chosen to work with the business due to its strong management team, ambitious and well-thought-out growth plan, as well as the exciting market drivers that TelcoSwitch is well-placed to build upon.
BOOST&Co is a leading provider of growth capital for innovative, fast-growing UK SMEs.
The independent asset manager offers loans ranging from £1m to £10m, covering a wide range of sectors, with a strong track record in technology, media and telecommunications (TMT). It has funded more than £500m across more than 130 deals to date and provided close to £200m under the government’s CBILS initiative to support SMEs during Covid-19.
The lender’s rapid growth in recent years means that the business is actively seeking new principals with strong SME networks to join its team. BOOST&Co prides itself on its diversity, with its employees evenly split between women and men.
Kim Martin, the head of the south and the Midlands at BOOST&Co, says: “TelcoSwitch continues to deliver on its ambitious growth plan, with SureVoIP being its third acquisition in just seven months.
“We are delighted to demonstrate our continued support for chief executive Russell Lux and the rest of the TelcoSwitch team.”
Paul Landsman, the chief financial officer at TelcoSwitch, says: “Having previously worked with the BOOST&Co team, it is great to continue this partnership via their support for the acquisition of SureVoIP.
“This deal presents a great opportunity for us to enhance the TelcoSwitch offering, by strengthening our intellectual property portfolio and adding valuable expertise for the small office and microbusiness market. At an exciting time for the business, we’re grateful to the team at BOOST&Co and are confident that our ambitious expansion plans are achievable with their support.”