Sunderland-based technology company, UC&C Limited, has received a £250k investment from the North East Finance ‘Accelerator Fund’ managed by local venture capital firm, Northstar Ventures.
UC&C provides unified communications to businesses across the UK, the aim of which is to combine traditional telephone technology such as voice and voicemail with other commonly used forms of communication such as video conferencing and instant messaging to improve business efficiency and productivity.
The platform for UC&C's services, OpenScape, has, until very recently, only been accessible to the largest of organisations due to the high capital cost and complexity of installation. However, the company has adapted the platform to allow businesses of all sizes to benefit from unified communications and it intends to apply the £250k investment towards further upscaling and marketing in order to support SMEs and take its products to the wider market.
Speaking about the deal, Joe Olabode, a Director at UC&C, commented “This investment allows us to take our OpenScape services to market which is a real milestone in the progression of the company. We found Swinburne Maddison’s advice to be invaluable in helping us get this over the line.”
Supporting UC&C throughout the negotiation of the investment was Alex Wilby (pictured), a Partner at Swinburne Maddison LLP. Alex also provided ongoing advice and assistance in relation to the terms of the deal and satisfaction of the legal conditions precedent attached to the funding offer.
Speaking about this latest commercial deal, Alex commented, “We’ve worked with UC&C since start-up and were delighted to be able to give the company the legal support necessary to progress matters at this crucial time. We wish Joe and the team every success with strengthening their position in the unified communications market.”