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UK cloud startup wins £60m funding

Six Degrees is focused on midmarket

Six Degrees Group, a cloud and networking startup based in the city of London, has won £60 million of venture capital funding in its launch year.

The company, which employs 100 staff and serves 1,200 midmarket businesses, also offers data centre, connectivity, and voice services. The funding comes from Penta Capital.

Six Degrees is headed by Alastair Mills, the former CEO of SpiriTel who sold that company less than a year ago. "We've gone from nought to £60 million funding in four months which demonstrates that Britain is still open for business, if you take the right model to investors and banks," he said.

Six Degrees hopes to capitalise on managing data in a business environment where it said that "for the first time ever", personal technology was "better than our work tech" and was beginning to become prevalent in some companies.

"Ten years ago it was a perk to give somebody a mobile phone and a laptop; now it's a hindrance for lots of people so companies are wasting money and draining profits sourcing products their staff don't need," Mills said.

However, Mills acknowledged that many businesses were still in the early stages of allowing personal devices to connect to their networks.

Six Degrees customers are primarily businesses with 50 to 1,000 employees, but it also serves some larger companies including law firm Linklaters.

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