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Deal In Focus – Ebb3

Virtualised IT service provider, ebb3 Limited, plans to double its headcount in order to meet the growing demand for its high-performance virtual workspace after receiving £750,000 follow-on funding from the Northern Powerhouse Investment Fund.

Founded in 2016, the Cheshire-based company delivers Complex Managed Service Solutions to some of the largest companies in the world. Ebb3 provides 3D graphical applications that function on a range of interfaces, to enable engineers or designers the freedom to work on any device, anywhere and at any time.

Ebb3 has secured £750,000 investment from NPIF – Maven Equity Finance which is part of the Northern Powerhouse Investment Fund, as part of a wider £900,000 funding round which is intended to increase headcount in the firm’s support desk team and recruit additional sales resource and developers. The funding will also support ebb3 in creating a resource management tool.

The funding follows Maven’s initial investment of £1.5m into the company in 2017 which was intended to develop the team, create an initial service offering and secure a customer-base.

Chris Brassington, MD of ebb3, said: “It’s tremendous news as it means that we can now further enhance our team of experts and continue to develop and build our services to unlock even more potential for our customers. We’re proud that we have successfully demonstrated how our capability will change the way businesses work.”

Dave Furlong, Investment Director at Maven said: “We are delighted to provide follow-on funding to ebb3 as it enters an important scale-up phase in its growth strategy. ebb3’s differentiator is their ability to understand the problems faced by customers’ looking to deploy GPU technology within a data centre and present them with a solution that solves these problems today and into the future. We look forward to working with Mark and the team as the business grows its headcount to support the increased demand for its software.”

Grant Peggie at British Business Bank, said: “We are pleased that NPIF has continued to support high-growth businesses in the North, providing vital funding to enable job creation and expansion into new markets. This investment demonstrates how this funding can make a real and measurable difference to businesses across the Northern Powerhouse region, which helps create a more prosperous regional economy.”

Graeme Bristow, Board Member at Cheshire & Warrington LEP, said: “In just 3-years ebb3 have gone from start-up to scale-up with innovation at their core, so we are delighted that NPIF investment will enable ebb3 to grow further by investing in their team and product development.  Ebb3 are part of the fast-growing and specialised technology sector that exists in Cheshire and Warrington and we look forward to supporting them in achieving their growth targets at Alderley Park.”

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Maven Capital Partners UK LLP is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 495929

Editors Notes