Money

Redwood Technologies Group has received a £25m funding boost from Scottish Equity Partners (SEP) in exchange for a minority stake in the business.

Redwood, a provider of communications technology and cloud contact centre solutions, was founded in Berkshire in 1993 by siblings Sean and Martin Taylor.

This marks the first time Redwood has raised externally and the money will be used to expand across Asia Pacific. The firm is set to open a regional office in Tokyo in Q1.

Sean Taylor, CEO and co-founder of Redwood, commented: “Redwood Technologies Group has enjoyed tremendous growth in recent years, driven by the increasing adoption of cloud services by enterprise and public sector.

“This investment will ensure we continue to grow strongly, both in existing markets and new territories. We selected our investment partner very carefully and SEP’s strong financial track record and the culture of its team really impressed us.”

Redwood, which has offices in Europe and North America, owns Content Guru, which received a Queen’s Award for Enterprise in 2016.

Andrew Davison, a partner at SEP, who will join Redwood’s board added: “We first met Redwood over three years ago and have tracked their impressive increase in market share which now sees them firmly placed amongst the leading global cloud based contact centre infrastructure vendors.

“Redwood is a fantastic addition to our enterprise software investment portfolio and we are looking forward to working with the founders and wider team to further scale the business internationally,” concluded the investor.

Check out our UK tech investment tracker for the latest industry deals.

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