Bridges invests in Storetec to support expansion
Bridges Fund Management ("Bridges"), the specialist sustainable and impact investor, will be working with Storetec to expand our product portfolio and resources to offer more support to current and potential clients. The partnership came around because of the natural synergy with ESG between the two companies.
With so much of our daily lives now powered by technology - a trend accelerated by the rise of remote and digital working post-Covid - data security has become one of the most important ESG issues of our time. According to the World Economic Forum, cyber security is now one of the five key risks facing businesses globally: more than 80% of UK companies have experienced a successful cyber attack in the last year. This is creating strong demand for services that can help companies digitise and secure their critical data: the electronic data storage market is forecast to grow at about 15% in the coming years.
Bridges' investment (via its Sustainable Growth Funds) will work in partnership with our management team, led by founder & CEO Neil Robson, to accelerate the growth of our business in this market, offer enhanced services to existing clients and support more new clients in the U.K. and beyond.
Neil Robson, CEO at Storetec said:
"We're excited to be partnering with Bridges at this critical stage of the business's growth journey. We wanted an investor who understood our market, shared our values, and had a strong track record of helping businesses like ours to harness their commercial and impact potential. Bridges fit the bill perfectly."