Europe-focused business Ekco is making a strategic play into the cybersecurity space.
Dublin-based, European-focused cloud and cybersecurity player Ekco has secured the backing of Corten Capital for an undisclosed sum.
In the past 18 months Ekco has made a strategic play on the European cybersecurity space through the acquisitions of pure play security service providers Ward Solutions, Kontex and Caveo Systems. In addition, it recently acquired Unity Technology Solutions, a cloud and security service provider, taking its revenues beyond €105m and staff numbers to just over 500.
“Companies should have a trusted partner that has a comprehensive service offering and the best tech talent”
The business plans to become a leading European security-led cloud provider and has operations across Ireland, the UK and the Netherlands.
Founded in 2016 by Blacklock and Crowe as a cloud back-up and disaster recovery business, Ekco has scaled rapidly across Ireland, the UK and the Netherlands through an ambitious buy-and-build programme. It now manages its customers’ end-to-end IT infrastructure and cybersecurity needs with a team of highly skilled engineers and technology professionals with a broad range of expertise.
Securing the cloud
Ekco’s co-founders, Eoin Blacklock and Jonathan Crowe, and its senior management team will continue to lead the business and remain significant shareholders.
“As technology continues to evolve at a rapid pace, it becomes increasingly necessary for companies to have one cybersecurity and cloud provider that can meet all of their technology needs, rather than having to work with multiple providers,” Blacklock said. “Companies should have a trusted partner that has a comprehensive service offering and the best tech talent.”
Crowe added: “Corten’s capital and strategic backing will enable us to continue to grow our range of services and our expert team so we can anticipate and provide what our customers need. We aim to continue our growth trajectory both organically and with strategic acquisitions. We will continue to focus on hiring the best talent, who will be able to provide highly focused, local services to each of our customers. We are excited for this next phase of Ekco’s journey with Corten, which will benefit our customers and our people.”
Corten Capital is a London-based fund that invests in entrepreneur-led B2B technology platforms.
Joseph Schull of Corten Capital said “We are delighted to partner with Eoin and Jonathan and their very talented team to continue growing Ekco as one of Europe’s leading managed cloud and cybersecurity providers. Their ambition to build a great platform company that stands the test of time based upon on the breadth and quality of its service offerings aligns perfectly with Corten’s investment strategy and approach.”
John Flynn, managing director of Act Venture Capital, and early investor into Ekco, added: “Ekco has been immensely successful in building a significant business in a short timeframe under the leadership of Eoin and Jonathan. The founders have hugely ambitious plans for Ekco and the current investors welcome Corten as lead investor to bolster our next phase of growth”.