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04 May 2012

Rock solid growth for Rock Networks

Stewart DeRoma managing director at Rock Networks explains how funding from The North West Fund is supporting their business growth plans...

Rock Networks full

Left to right: Andy Leach (CEO, NWBF Ltd), Lord Peter Smith (leader of Wigan Council) and Stewart DeRoma(managing director, Rock Networks Ltd)

A technology company that attracted start-up funding from The North West Fund has marked the first anniversary of investment with jobs and turnover success.

Rock Networks, based in Golborne, near Wigan, has created 18 new jobs since it secured £250,000 from The North West Fund for Venture Capital, managed by EV, in May 2011. In its first nine months, Rock Networks now has over 140 customers, with contracted revenue in excess of £1.5m.

Rock Networks used the start-up funding to support its costs when it set up business. The company, which is a voice and data specialist for businesses looking for new technology, has taken on new staff to deal with increased demand. The new contracts that boosted turnover were worth £530,000 in the first quarter of 2012.

The success at Rock Networks prompted a recent visit from Lord Peter Smith, leader of Wigan Council, who spoke to managing director Stewart DeRoma about the story behind the business.

Stewart DeRoma, said: "We were at square one before the investment from The North West Fund. But we've used the investment to expand everything from IT systems and infrastructure to our sales and operating staff. The future is promising as the demand for data specialists is ever-increasing. Hitting the £1million mark in January was fantastic but we continue to look to the future to plan for growth."

Rock Networks was established by Stewart DeRoma with 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, they decided the time was right to take centre-stage and build a business of their own.

Rock Networks worked closely on the deal with the team at EV, led by Richard Young. EV manages The North West Fund for Venture Capital, aimed at businesses in early-stage development.

For more information about how you may be able to access funding for your new business please visit http://www.thenorthwestfund.co.uk/funds/venture-capital


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