Mark Boost, CEO at Civo, says he’s pleased to confirm that THG Ingenuity, the technology division of digital commerce platform THG, has invested $2 million in order to “take a minority stake in Civo.”
Boost writes in a blog post that they’re “proud” to be THG Ingenuity’s first “strategic” investment since it revealed 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.”
Boost added that the timing of this investment, “just as we prepare for our general availability launch, is a perfect match.”
Boost also mentioned that the THG deal will allow them to press on with their plans to make Civo “one of the leading Cloud providers in the Cloud native space.” He further noted that they will be “quickly investing in our infrastructure, including more regions across the globe.” He also noted that along with their existing London and New York locations, they’ll have “regions in Frankfurt, Germany, and India before the end of the year, with more to come in 2022.”
He continued:
“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.”
He added:
“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.”
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,” Boost confirmed.
John Gallemore, CEO of THG Ingenuity, said:
“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.”
The announcement further noted that with Civo, they’ve found “the future of home-grown UK cloud native innovation.” The update also mentioned that Civo is “a fast and developer-friendly platform for accelerating our digital commerce roadmap.” Gallemore added that they’re pleased to invest in Civo and to “support the next phase of growth of this impressive technology success story.”
The update further noted:
“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!”
The announcement also mentioned that they have really 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.”