Conversant Technology Announces £500,000 Investment Deal for Worldwide Growth

  • Published: 13 December 2018
  • Author: Shane Ransom
  • Cateogry: General

Worldwide market: from left Martin Palmer UK Steel Enterprise, Joanna Thomas Development Bank of Wales and Patrick Copping Conversant.

Today, Conversant Technology are happy to announce a £500,000 investment deal has been successfully agreed to help with the company's aspirations of worldwide growth.

The funding is a joint loan and equity package by Development Bank of Wales and Tata Steel subsidiary UK Steel Enterprise.

For its Welsh presence based in Cwmbran, the company is aiming to create around 32 jobs as the business develops.

Conversant has built several cloud-based communications platforms providing unified communications technology to partners servicing global clients.

Director Patrick Copping explained :”The Conversant platforms offer our partners a fast, secure and profitable way into providing Unified Communications solutions to end customers without significant capital expenditure ”

Increasingly, he says, businesses want unified communications, seamlessly bringing together voice, email and other communications formats tightly integrated into existing systems.

“We provide the platforms that enable our partners to access new revenue streams in unified communications, and crucially clients can purchase only what they need without having to buy expensive licenses and dispensing with other upfront costs.”

The business already has clients in the Asia Pacific region, the US and Europe and the investment will be used to expand and develop our propositions and technologies.

“We see a worldwide market as the demand for cloud-based communications grows” added Mr Copping. 

Conversant believes its Platform as a Service (PaaS) and Software as a Service (SaaS) approach will be attractive to partners that want to deliver innovative solutions to their customers. “These delivery models by third parties mean that access is far cheaper than it would otherwise be for entrants into the communications market,” added Mr Copping.

Martin Palmer Investment Executive with UK Steel Enterprise said: “The directors of Conversant have many years experience in the unified communications and hosted industries, and a thorough understanding of  the needs of their clients. We are delighted to be making this investment and wish them every success as they expand their services into this global market.”

Joanna Thomas of the Development Bank of Wales said: “Operating in an exciting market, this is a great opportunity for us to back a fast growing unified communications company that has chosen Cwmbran as the location for their headquarters. With our equity support, the business has ambitious plans that will see the development of their technically advanced offering and the creation of new skilled jobs in the area. We’re delighted to be working with Patrick and the team and wish them every success.”

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