Investors Endorse The Bunker's Success with Third Round Financing
26th March 2007
The Bunker Secure Hosting Ltd, the Ultra Secure Data Centre and Managed Services provider, is delighted to announce the completion of its third round of financing. The £1m of new funds was raised entirely from existing shareholders at double the valuation at the time of the second round financing completed in May 2006. These funds will be used to continue the company’s investment program and provide operating cash resources to reach breakeven in Q4 and beyond. In addition the company has entered into outline agreements for the funding of the installation of dark fibre into the Ash site. This project will allow Bunker clients direct access to the Internet via Europe, avoiding high-risk London locations.
Peregrine Newton CEO of The Bunker, said:
“I am delighted with the outcome of this latest round of financing. The management team see this as another very positive endorsement of the progress of the company. It is tremendous to have such a supportive shareholder base behind us and to be able to draw on such a deep pool of expertise in finance, technology and business growth and development. The Bunker has a unique proposition in a very positive market. The board and shareholders completely understand the potential of the company and are prepared to back the team and help them deliver”.
Steven Joseph Chairman of The Bunker, said:
“The year has kicked off very well for The Bunker and confirms a growing acceptance of our business proposition. The quality of our customer base increasingly reflects the value of our expertise in handling critical systems and applications for customers for whom security and confidentiality is essential. The world is not getting any safer and securing digital business assets has to be uppermost in the minds of company boards across the globe”.
Jean-Loup de Gersigny, said:
" The Bunker has achieved very substantial growth since we acquired the business in August 2004 and the company has started 2007 very strongly. As one of the original shareholders of the company, I shared the vision of the management regarding the opportunities in this industry and the capacity of the company to become one of the significant players within it. I am even more convinced today of the enormous potential of the business in view of the very positive developments in the markets we serve and am delighted to continue to support the management in the development of The Bunker ”.
David Hughes of Foresight Venture Partners said:
“We are delighted to be again supporting The Bunker to achieve its very exciting plans. The company has a strong order book, which is growing all the time, high quality visible earnings and owns real estate assets. The Bunker is perfectly positioned to take advantage of the very positive market conditions and we look forward to continuing to support the management to achieve great things in the future”.
About The Bunker
The Bunker Secure Hosting Ltd, provides Ultra Secure Data Centres and Managed Services on a range of technologies from Open Source to Microsoft and including network Management. Our team comprises of security and cryptography experts renowned for their work on Apache-SSL and Bluesnarfing.
Our technical leaders are recognised experts in security and we use Open Source software where appropriate, as we believe it offers great benefits in security, stability and cost effectiveness. Our Data Centres are outside the M25 yet within easy reach of London.
Our facilities are ex-military Nuclear Bunkers purpose built to house the UK's air defence systems. We run 24/7/365 and our NOC monitors systems both nationally and internationally and is staffed around the clock by system and network engineers and security staff. Through our in house networks team and via close working relationships with a number of carefully selected network providers, we deliver a multi-homed, no single point of failure transit network between all our sites and the Internet.
The Bunker works with over 75 clients, large and small. Our clients are Financial Services Organisations, Technology companies, local government and other regulated businesses that value our Ultra Secure, high availability offering.
About Jean-Loup de Gersigny
Jean-Loup de Gersigny is one of the founders of Intermediate Capital Group plc, the largest European Mezzanine Capital institution which is quoted on the London Stock Exchange. The family interests of Jean-Loup de Gersigny are very significant shareholders in the company.
About Foresight Venture Partners
Foresight Venture Partners (‘FVP’) has been an established fund manager for over 20 years and was one of the first managers to raise and manage a Venture Capital Trust (‘VCT’) in 1997/8. FVP now has over £120 million of VCT assets under management across 5 VCTs.
Foresight specialises in investing in companies which apply technological skills or knowledge or whose activities embrace a technology component as a source of competitive advantage. FVP’s strategy is to build a diversified portfolio across industries and markets and offer investors exposure to both high growth investment opportunities as well as more mature, established companies. The Foresight team is 14 strong with over 170 years industry experience. This knowledge and proven ability has produced an excellent track record which has resulted in Foresight managing the best ever performing VCT.
