I’m hugely excited to announce that THG Ingenuity, the technology division of ecommerce giant THG, has invested $2 million to take a minority stake in Civo.
We’re proud to be THG Ingenuity’s first strategic investment since it announced earlier this year that Softbank Group had invested $730 million in THG with an option for a further $1.6 billion investment in the THG Ingenuity platform.
What does this mean for Civo?
The timing of this investment, just as we prepare for our general availability launch, is a perfect match.
The THG deal will allow us to press on with plans to make Civo one of the leading cloud providers in the cloud native space. We will be quickly investing in our infrastructure, including more regions across the globe. Alongside our existing London and New York locations, we’ll have regions in Frankfurt, Germany, and India before the end of the year, with more to come in 2022.
We’ll now be able to further add to our amazing team, expand our product portfolio and keep releasing new features and tools to ensure Civo has the very best developer experience of all the cloud providers.
Above all, this news allows us to approach the next stage of Civo’s evolution with confidence, knowing that we can provide tailor made solutions for businesses of any level - from start-up to enterprise.
How will THG Ingenuity use Civo?
As part of the investment, THG Ingenuity will become a key strategic partner, accelerating the global rollout of both public and private Civo regions to data centres and large development teams around the world.
John Gallemore, CEO of THG Ingenuity goes onto explain:
“We built THG Ingenuity to remove the burden of multi-partner relationships and complex software and infrastructure. In turn, THG has sought best-of-breed partners that help us create the most seamless, effective, and scalable direct-to-consumer retail models in a single, digital platform.
With Civo we have found the future of home-grown UK cloud native innovation. Civo is a fast and developer-friendly platform for accelerating our digital commerce roadmap. We are delighted to invest in Civo and to support the next phase of growth of this impressive technology success story.”
More than just VC funding
In my last blog post about funding, I mentioned we were not wanting to take VC funding at this stage.
What’s unique about the THG investment is we’re not only getting investment of $2m capital into the business, but we’re also gaining a strategic partner who will be proactively selling Civo into its enterprise customer base. A rare case of having your cake and eating it!
This is just the beginning
We have very ambitious plans and already Civo is carving out a reputation as a leader in the cloud native hosting space, and with our GA launch imminent, a true alternative to the big 3 hyperscale cloud providers.
We have an amazing team, incredible customer community and a product that people believe in. I couldn't be more excited for our future!
Mark Boost CEO, Civo
