By Daniel Hunter
A South Wales company has praised the contribution of funding made by Finance Wales.
Although the figures involved have not been released, Siphon, an advanced voice and unified communications (UC) technology company based in Cwmbran in South Wales, says the investment will help to embark on its growth plans.
Siphon is planning to increase its presence in the UK and Belenux, and expand further into new markets in Europe.
“Securing this investment is a significant milestone for Siphon and demonstrates Finance Wales’ confidence in our business model as well as in our professional and technical expertise,” said Steve Harris, co-founder and managing director of Siphon.
“Finance Wales’ investment provides us with the capital to continue the rapid expansion of Siphon and achieve a further step-change in our growth.
“A high-calibre team of knowledge workers is integral to our success at Siphon and we expect an active recruitment drive over the next two years to keep pace with our growing business.”
Rob Smith, co-founder and technical director at Siphon, added: “As Siphon has grown over the last six years, we’ve expanded our portfolio-offering to encompass cloud infrastructure and cloud services, as well as targeting the wealth of deployment and integration opportunities for enabling real-time communications within Microsoft UC environments.
“Steve and I decided that securing equity investment from a long-term backer would help us take Siphon to the next level.
“We chose Finance Wales because they took the time to understand our business in depth and structured an investment that would act as a catalyst for our future expansion."
Finance Wales Senior investment executive, Stephen Stolliday said: Siphon has a strong product portfolio supported by a comprehensive suite of professional services.
“It’s a combination that enables Siphon to deliver innovative, end-to-end solutions to its world-class customer base.
“The company has an impressive management team with an enviable reputation and expertise across a broad range of UC value propositions.
“With Finance Wales’ backing, Siphon is well placed to take advantage of an exciting time in the telecoms sector and scale up its operations.”