Cloud services provider Vapour Media is set to boost sales and growth following a second significant investment from Finance Yorkshire.
The Brighouse-based company is a specialist provider of cloud-based communications solutions, from network access to next-generation cloud voice and Software as a Service (SaaS) applications.
Launched less than a year ago, Vapour Media provides its services to SMEs via a partner network with the ability to connect to any of the Tier 1 network providers – BT, Vodafone, Virgin Media and Talk Talk.
Finance Yorkshire invested £250,000 from its Seedcorn Fund in the early stages of the business and has now made a follow-on investment of £300,000, again from its Seedcorn Fund, to enable the company to continue its sales and route to market progress.
Vapour Media employs more than ten people and was established by founding Directors Dom Waterson, Tim Mercer and Jason Sharp.
Dom Waterson, a seasoned entrepreneur, said:
“We’re very confident that a lot of our business will come in the second year after an initial year of setting it up. Finance Yorkshire’s investments have been vital, supporting us from the outset and now as we continue to grow.
“The Finance Yorkshire backing has also given us great credibility – we’re not being viewed as a new business anymore.”
Key to Vapour Media’s early success is its commitment to customer service.
Tim Mercer said:
“Over and above the solutions we have delivered so far, the feedback is that our customer service is exceptional and we take great pride in that.
“We understand our market and believe our products and solutions are the best.”
David Best, investment manager at Finance Yorkshire, said:
“Vapour Media is headed by an entrepreneurial and strong management team who have a proven track record of driving sales and building businesses in their sector.
“We are confident that they will deliver further growth and success given their competitive offering in the market place.”
Finance Yorkshire provides Seedcorn, Loan and Equity Linked investments, ranging from £15,000 to £2 million, specifically to help small and medium sized businesses meet the gaps in the market for the funding they need for growth and development.
Finance Yorkshire has been developed as a European JEREMIE* initiative and is capitalised by grants from UK Government (£15m), European Regional Development Fund (£30m) and finance from the European Investment Bank (£45m).