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Warrington-based voice and data specialist, Rock Networks, has
broken the £1m contracted revenue mark after seven months of
trading. Rock's strong performance comes after continued growth and
a £250,000 investment from The North West Fund for Venture Capital,
managed by EV, in May 2011.
Rock Networks, a voice and data
specialist that provides expert advice for companies looking to
access the latest technology, used the funding from The North West
Fund to support the company's start-up costs. The firm has taken on
18 staff members to meet the IT and communication needs of its
The expanding customer base has been
the driving force behind breaking the £1 million mark. January saw
the firm increase the customer base by 25 per cent. Revenue from
the new contracts topped £220,000.
Managing director Stewart DeRoma,
commented: "We were at square one before the investment from The
North West Fund. The investment has gone to expanding everything
from IT systems and infrastructure to our sales and operating
"The future is promising for Rock as
the demand for data specialists is ever increasing. Hitting the £1
million mark was fantastic but we continue to look to the future to
plan for growth."
Andy Leach, chief executive of North West Business Finance,
which manages The North West Fund, commented: "We take great pride
and pleasure in watching our investee companies develop, and in
Rock Network's case, surpass its goals. The funding inspired and
enabled Stewart to achieve his ambitions of becoming a major player
in the business IT sector and we look forward to helping other
entrepreneurs reach their goals."
The £30m North West Fund for Venture
Capital is part of the £185m North West Fund - an evergreen fund
provided by the European Investment Bankand The European Regional
Development Fund to supply debt and equity funding to growing small
and medium sized enterprises in the North West of England.
Since its creation in December 2010
The Fund has supported more than 65 businesses with over £12m of
investment capital and earmarked a further £9m of funding to
further support those businesses as they grow. Many more
investments are planned for 2012 and the years ahead.
Rock Networks was established by
managing director Stewart DeRoma, technical director Dan Cunliffe
and chairman Julian Jackson. The team worked together for a
previous venture-backed business and, having played supporting
roles in building two businesses through to successful exits,
decided the time was right to take centre-stage and build a
business of their own.
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