Unified communications and collaboration specialist TelcoSwitch has secured £4m in its first external funding round, to accelerate the company’s planned M&A activities, broaden its technology portfolio and grow its number of channel partners. Founded in 2015, TelcoSwitch delivers hosted voice, UCaaS and compliance solutions through its customisable CallSwitch hosted telephony platform - which currently supports over 60,000 daily users from anywhere in the world
The company raised £2.5m through BOOST&Co, following what it said was “exceptionally strong” year-on-year growth, which has seen TelcoSwitch grow over 45% in live seats for its unified communications platform in 2020.
The remaining £1.5m has been raised through existing long-term investors. TelcoSwitch said three acquisitions were underway already to broaden its technology portfolio and increase its customer base.
In a drive to “significantly grow” its number of channel partners, the company will also now double its office space to facilitate up to 100 employees across sales, account management and support functions over the next 12 months.
Russell Lux, TelcoSwitch founder and CEO, said: “Last year was an exceptional year for TelcoSwitch, we’ve enjoyed record sales and were ranked [in the Sunday Times] as one of the fastest-growing technology companies in the UK.
“And now we have a hugely supportive partner in BOOST&Co to help us drive the business forward, continue acquiring other relevant businesses and accelerate the growth of our base.”
Kim Martin, principal at BOOST&Co, added: “TelcoSwitch is focused on investing in growth, which will also lead to the creation of new jobs at a time when unemployment is on the rise. “This deal will support the continued success of a disruptive telecoms player while ultimately also supporting economic recovery as a whole, which is why it’s a fantastic one to be a part of.”
Headquartered in London, it has other offices in the UK, the US and South Africa.
