Gradwell in £1m expansion drive
VoIP provider plans to quadruple growth within four years
UK-based Voice over IP provider Gradwell has announced plans to grow four times larger in just four years – after securing £1.15m investment from Altitude Partners, a regional equity fund which covers the south of England.
Founder Peter Gradwell – who started the business in 1998, while studying at Wales’ Aberystwyth University – said the investment would allow the business to develop its technology and grow its customer base.
He added: “The company has grown enormously in the last 12 months and we’ve become a true twenty-four-seven business…With Altitude Partners on board, we have a firm foundation to leap forward and provide the most useful VoIP platform on the market.
“There is a huge opportunity to encourage businesses to follow the consumer lead in adopting VoIP instead of more traditional phone systems. VoIP makes a company’s phone system cheaper and more useful.”
Gradwell specialises in delivering VoIP solutions to small businesses. The business is based in Bath with a team of 60 employees and around 12,000 small business customers based in the UK. It turns over £5m a year.
Simon White of Altitude Partners said: “Gradwell is one of the most innovative businesses operating its own platform in the VoIP telephony market. The company is expanding at a rapid rate as more businesses discover the benefits of using VoIP for their telephony requirements.”