Bristol and Reading: BGF backs cloud services business with £4m investment

Skyscape Cloud Services (Skyscape), the leading provider of cloud infrastructure services to the UK public sector, has secured a £4 million investment from BGF, the independent company established to help Britain's growing businesses.  

BGF will take a minority stake in the business and the investment will be used to accelerate Skyscape’s growth in the UK public sector market.

The investment was led by BGF’s Bristol-based team, and brings the team’s total invested into entrepreneurial South West-based companies to £36m.

BGF was advised by Bob Alsop of Grant Thornton, Reading (financial due diligence), and Emma Gibson of Shoosmiths in Reading (Legal).  Skyscape was advised by Alisdair Livingstone of Osborne Clarke, Bristol (Legal), and Mark Hill of Deloitte (Tax).

Skyscape is currently experiencing an impressive growth rate of 20% per month and is forecast to deliver Annualised Monthly Recurring Revenue of c£10m.

The business has achieved great success to date, winning a number of high-profile contracts directly with public sector organisations, including the Cabinet Office, Home Office, HMRC and MOD.  Skyscape also provides cloud services to other central government departments as well as a growing number of local authorities and independent government organisations.

The investment was managed for BGF by James Austin, Greg Norman and Edwin Davies.