Cloud Geeni & Service Geeni secures £5.3m minority investment from BGF for accelerated growth plans
CEO Jonathan Heaton talks about plans for growth
We’re excited to announce that KCA Holdings (KCA) which owns both Service Geeni and Cloud Geeni has secured a £5.3 million minority investment from BGF one of the largest and most experienced growth capital investors in the UK and Ireland.
This investment will enable KCA to accelerate investment into both Service Geeni; our leading service and workforce management software platform; and Cloud Geeni our growing Cloud IT service, allowing the group to capitalise on substantial market potential.
Despite recent challenges including Brexit, the Covid pandemic and the economic climate, the business has continually invested in new products and services. This strategy has proven effective, as Service Geeni and Cloud Geeni have grown significantly in the last 3 years, and the Group now employs 95 people with a head office in Leigh, Greater Manchester and a development hub in Bengaluru (Bangalore), India.
BGF’s investment will enable Service Geeni to further increase the ongoing investment in software design and development, including continued enhancement of the user interface and experience.
Cloud Geeni will benefit from more investment in cloud infrastructure and technology to accelerate delivery of more benefits to both existing and new customers.
Additionally, this partnership will enable us to further invest in our great team, enhancing activities such as product development, product support, sales and marketing. We will be able to offer even greater career progression opportunities internally, whilst also attracting more talent to join the Service Geeni and Cloud Geeni teams.
The Service Geeni and Cloud Geeni senior management team and control of the company has not changed. BGF investment will enable accelerated growth, so that we can improve products and services faster, delivering greater benefits to our growing customer base.
As part of the deal, technology entrepreneur, Arlene Adams, will join the Board as Non-Executive Chair. Arlene is best known as the founder of Peppermint Technology – a leading Customer and Business Management Platform used by law firms around the world.
Jonathan Heaton, CEO, said:
“I had known of BGF for some time as they are very successful and active in fast-paced technology sectors. When they approached us I was pleased that the BGF team took the time to really get to know our management team and our business; they understand how we have successfully grown organically and can see how we can further accelerate customer efficiencies and benefits with additional investment.
It was also important to me to engage with partners who will work alongside our team and recognise the value of preserving our ethos and culture, particularly around how we listen to customers. As by fully understanding the different issues in each sector, we can hone our research and product development. This collaborative approach with our customers has been fundamental to our growth in the past and BGF not only see the opportunities for growth but they also respect our approach.
BGF will help us build on these foundations, enhancing what we do, so we can deliver more benefits, faster, to more customers. All of the team are looking forward to this next stage in the development of both the Service Geeni and Cloud Geeni offer.”
BGF’s Harry Jones, who will join the Board as Non-Executive Director, said:
“KCA is an exciting and fast-growth technology company. As we continue to adapt in a post-pandemic world, and workplaces evolve and investment in cutting-edge technology increases, Jonathan and his team have a crucial part to play in meeting the needs of companies across a diverse range of sectors We’re delighted to be joining them on their growth journey and helping them realise their strategic objectives.”
Cloud Geeni is a Microsoft Gold Partner, supporting UK SMEs with private cloud based IT infrastructure solutions. Specialising in Private Cloud Managed Services including Managed IaaS and DaaS. Responsible for thousands of end users across the Cloud Geeni platform helping businesses in a diverse range of sectors including Legal, Finance and Manufacturing.
Service Geeni helps medium to large service management companies maximise efficiency and service delivery through its leading software platform which streamlines processes, optimises inventory control, applies intelligent multi-variable scheduling and resourcing, and visualises meaningful data. Service Geeni has become an established market leader of service management technology helping businesses in a diverse range of sectors including Materials Handling, Logistics, Medical Devices, Asset Maintenance & Repair.
Advisors to KCA were MHA Moore and Smalley (corporate finance and tax) and Butcher and Barlow (legal). Advisors to BGF on the transaction were Mills & Reeves (legal), Hurst (tax) and Vim Vithaldas (FDD).
About BGF:
1. BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs.
2. BGF was set up in 2011 and to date has invested £3 billion in nearly 500 companies, making it the most active investor in the UK.
3. BGF invests in growing businesses in the UK and Ireland.
www.bgf.co.uk @BGFinvestments