Utelize Communications has secured a multi-million-pound investment from BGF, the UK and Ireland’s most active growth capital investor, to fuel innovation and accelerate expansion.
BGF’s capital will be invested into continued product development and sales and marketing to further accelerate growth.
Matt Atkinson, CEO of Utelize Communications, said: “With our market-leading mobility management platform and eSIM technology, and a strong reputation for helping customers drive down costs and manage large device fleets, we’ve laid the foundations for future growth in a market that is dramatically and rapidly changing.
“To capitalise on the opportunity in full, we were looking for an investment partner with deep sector experience, a strong value creation offering, and a flexible investment model. BGF fits the bill in every respect, and we’re delighted to be partnering with them.”
Earlier this year, BGF announced a £3 billion commitment to support high-potential companies across the UK over the next five years. £300 million of the £3 billion has been earmarked for businesses in the Midlands. This builds on £541 million already invested in the region since 2011. With a presence in Birmingham and Nottingham, BGF plays a vital role in addressing regional investment gaps.
David Bellis, Investor at BGF, commented: “Utelize is a differentiated provider that stands out in the highly competitive mobile communications sector with proprietary technology that underpins exceptional customer service levels and a demonstrable ROI. It is great to be partnering with Matt and his high calibre management team. They are on an impressive growth trajectory and have high aspirations for the future.”
About BGF
BGF is the UK’s most active growth capital investor, offering patient, minority capital to support the growth of small and mid-sized companies. With 15 offices across the UK and Ireland, BGF provides long-term backing to businesses across a wide range of sectors, helping them scale.
