Business VoIP telephony and Internet provider Gradwell has today announced a significant “4×4” expansion plan – four times larger in four years – supported by a GBP1.15 million investment from regional equity fund Altitude Partners LLP.
Gradwell was founded in 1998 by Dr Peter Gradwell, whilst studying at the University of Aberystwyth, as a means of offering small businesses his proprietary ‘Voice over Internet Protocol’ (VoIP) system. Now based in Bath, Gradwell has a turnover of GBP5m, a team of 60 and serves 12,000 UK Small Businesses.
The investment from Altitude Partners will enable Gradwell to significantly scale its technology and expand its customer base.
Dr Gradwell says: “It is really exciting that after more than 12 years of steady growth we are able to cement our position as a leading supplier of VoIP and broadband to small businesses. The company has grown enormously in the last 12 months (now employing 60 staff); we’ve become a true 24/7 business and now with Altitude Partners on board we have a firm foundation to leap forward and provide the most useful VoIP platform on the market.
“There is a huge opportunity to encourage businesses to follow the consumer lead in adopting VoIP instead of more traditional phone systems. VoIP makes a company’s phone system cheaper and more useful for a business.
“I’m delighted that Altitude Partners has agreed to support this growth with a GBP1.15 million investment. After a rigorous selection process, we felt that Altitude Partners shared our ambitious vision and would offer the business invaluable advice and support as we continue to expand.”
