£5m funding round for Extrinsica Global
Deal TypeM&A & Private Equity
IndustryTechnology & Media
Extrinsica Global is an award-winning cloud solution provider. Specialising in the delivery of cloud solutions using Microsoft Azure, Extrinsica is considered to be one of Microsoft’s most technically capable cloud partners in the UK.
Based in the Oxford Science Park, they are the trusted provider of mission critical infrastructure to both SME and enterprise customers, including some of the UK’s largest and most data-sensitive organisations.
The £5m investment from alternative lender BOOST&Co and existing shareholders will be used to accelerate growth and invest further into the business’s advanced R&D function, allowing Extrinsica to unlock the next exciting stages in becoming a leading player in the domestic and international cloud solutions market.
“Achieving this excellent outcome, particularly during COVID-19 and a turbulent period in the UK capital markets, is a testament to the quality of the Extrinsica team and their valuable service offering. The high regard in which they are held by their customers in dealing with highly complex infrastructure is a clear example of Extrinsica’s best in class cloud solution capabilities. It has been a pleasure working with Simon and his team and we have no doubt this investment and the support of BOOST&Co will accelerate Extrinsica’s continued growth even further.”
Duncan Lamb, Partner, BDO
“Setting out to gain funding in the midst of a Global pandemic, despite the obvious potential of the business in a rapidly emerging key market, was extremely challenging. Having the very considerable experience and expertise of BDO beside us to navigate an uncharted landscape was invaluable. Everyone in the BDO Team was experienced and knowledgeable, and were on point to negotiate on our behalf, freeing us to focus on what would be required to implement our strategic plans. We are delighted that BOOST&Co saw the potential of our business to be one of the companies that will grow and create jobs and value for UK economy beyond the pandemic and that BDO were able to connect us.
Simon Smith, CEO, Extrinsica Global