VectorCloud receives five-figure investment from UKSE
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Motherwell-based IT support business VectorCloud has received a five-figure funding deal from UKSE (UK Steel Enterprise), a subsidiary of Tata Steel.
Kevin Mitchell, VectorCloud and Scott Webb, UKSE.
The company has since launched a recruitment drive as it looks to increase its headcount by around 20%.
The funding deal from UKSE also allowed the management team to acquire a majority stake in the VectorCloud business.
Kevin Mitchell, VectorCloud and Scott Webb, UKSE.
Alongside the financial contribution, UKSE gas also invested to take a 10% stake in the company, The Insider reports.
Kevin Mitchell, joint owner at VectorCloud, said: “UKSE’s help has allowed us to plan growth for the organisation. It’s fantastic that we can add to our team of experts immediately which will, in turn, make us a stronger company.”
Scott Webb, regional executive for the investor, added: “The team at VectorCloud are experts in their field and we are proud to show our support. We’re looking forward to seeing how they progress over the years to come.”
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