Ekco secures €8.4m in funding
Act Team
“There is a huge opportunity for a consolidated European vendor. Having previously built a $120 million revenue business in the US via consolidation we’re confident of becoming the leading player in Europe”
Eoin Blacklock
Ekco are on a mission to build the world’s largest B2B cloud services platform.
The company, which sells cloud back-up services to businesses, was founded by repeat founders, chief executive Eoin Blacklock, and his business partner, chief operating officer Jonathan Crowe. They previously founded cloud back-up operator KeepitSafe, which was sold to US group J2 Global in 2010.
The Opportunity
Both Ekco and us as investors believe that cloud services are being adopted further and faster into the daily running of businesses than anyone imagined. Their goal is to capture the largest possible share of this global opportunity and to play a big part in its future growth.
Ekco now employs close to 100 people, and is using its fresh funding to continue its strategy of consolidating smaller cloud operators.
When Eoin and Jonathan came to us, they had a very clear vision and execution plan. We first invested in the end of 2017 in an initial €8m raise and we are now leading another fund raise of €8.4m, bringing total equity funds raised to €16.4m.
They are executing this with accuracy and we are delighted that we can continue supporting them on the journey.
