Atlas Cloud secures £2m investment and plans 20 new jobs
Newcastle IT firm Atlas Cloud has secured a £2m investment from the Northern Venture Capital Trust Funds, which are managed by Mercia.
The company, which provides cloud and network solutions to blue-chip clients, expects to create 20 new jobs at its Newcastle headquarters in the next two years, increasing staff numbers to 55. Turnover is forecast to increase from £2.5m to more than £10m by 2025.
CEO Pete Watson said: “We are delighted to have secured this latest funding round, our largest to date, which demonstrates the faith Mercia, and our previous investors, have in us. “We promise customers that our cloud-based solutions work better than their traditional set-up so we need to make sure we are at the forefront of innovation! The funding will allow us to further improve our solutions and fulfil our plans to become a leading national player in the cloud computing market.”
Alex Wilson of Mercia added: “Cloud IT helps companies to achieve digital transformation. Atlas Cloud has established itself a high quality provider, even for those clients that require the most demanding levels of service and security.
“We believe the company has excellent growth prospects and look forward to supporting Pete and the team on the next phase of their journey.”
Atlas Cloud was established in 2010 and offers a complete range of managed IT solutions. Clients include Sage, Experian, Magnox and HS2.