Atlas Secures Investment for Next Phase of Growth
30th June 2014
IT services provider Atlas Cloud is set to further boost its presence in the technology sector after securing £350,000 worth of investment in a deal involving Northstar Ventures and private investors.
Atlas Cloud was advised by commercial law firm Watson Burton. The Newcastle-based organisation, with offices in Leeds, Sheffield and London, established in 2010, designs, builds and manages tailored hosted desktop solutions that allow businesses to access systems remotely, offering flexible working and security. Set up by IT experts previously employed by large technology companies like Capgemini, Acxiom and Siemens, Atlas is one of only a few businesses nationally that has the expertise to provide this service. Pete Watson, CEO of Atlas Cloud, said: -The way in which businesses use IT is constantly evolving and will be very different in the years to come. Servers and PC's will become redundant and all IT requirements will be delivered over the internet, so there will no longer be slow computers or broken servers. At Atlas, we provide a complete cloud service, managed and operated on our clients' behalf allowing businesses to concentrate on what they exist to do. This investment will help Atlas enter the next phase of its growth strategy. Corporate finance expert Paul Wigham from Watson Burton acted for Atlas in successfully securing the investment. Funding was provided by Northstar Ventures' Finance for Business North East Accelerator Fund and a number of high net worth individuals. Paul said: -It was a pleasure to work alongside Pete and the team on this investment. Atlas is an innovative organisation with a clear vision for growth. As leaders in cloud technology they have captured the attention of the national market. Northstar Ventures focuses on building high growth businesses. Its Funds are backed by the European Regional Development Fund and the European Investment Bank. Michelle Cooper, Investment Manager at Northstar Ventures, said: -We are delighted to be a continued investor in Atlas we have supported the company from the beginning when it received funding from our Proof of Concept Fund. It was a real opportunity for us to back a growing business at a time of rapid interest in cloud technology. It has been great to see the company grow and secure some large customers, including Age UK and J&B Recycling. Pete Watson Added: -We have been well supported by Northstar, Watson Burton and investors both our existing and new investors - as we closed this round of investment at £350,000. We would like to thank all parties for their support at this exciting time of our development.