Civo, a Stevenage, UK-based pure-play cloud native service provider, received a £1.4m minority investment from THG plc.
THG, which will take a 9.4% stake in Civo, at a £12.6 million pre-money valuation (c. $17.4m), made the investment from THG Ingenuity, its proprietary technology platform. The deal is THG Ingenuity’s first strategic investment since it announced in May 2021 that Softbank Group had invested $730m in THG with an option for a further $1.6 billion investment in THG Ingenuity.
Led by Mark Boost, CEO & co-founder, Civo provides a K3s platform for building cloud-native Kubernetes applications. It’s also the first production-ready platform, the Kubernetes distribution that focuses on speed, simplicity and reduced overhead.
As part of the investment, THG Ingenuity becomes Civo’s exclusive datacentre hosting & Enterprise sales partner, accelerating the global rollout of Civo regions to data centres and large development teams around the world.
FinSMEs
20/09/2021