eCloud revenue rises 82.9% at UKFast
Article date: Tue, 08 Dec 2015 11:08 GMT
Hosting provider UKFast today announced that revenue from its eCloud range has grown by 82.9% in the last year.
The eCloud model has surpassed all expectations at the fast-growing firm, with cloud services now netting £9.9 million a year. The figure represents 27% of total annual recurring revenue currently worth £37.2 million. Last year UKFast announced that its eCloud portfolio accounted for 18% of total annual recurring revenue worth £30 million.
Lawrence Jones MBE, CEO of UKFast said: "We originally launched eCloud to fill a hole in the market for a truly home-grown British cloud. Clearly, we hit a real need as we're now seeing more and more businesses moving onto the platform and we fully expect this rate of growth to continue.
"Since the original launch we have added several new products to the range, including eCloud Vault drag-and-drop storage.
"Whilst it is fantastic to see UKFast going from strength to strength, I'm incredibly proud to see our solutions helping companies to grow - like Hot Tub Superstore, which saw a 900% sales increase in one month maximising TV coverage with eCloud Hybrid."
Key successes also include Dragon's Den and Bargain Britain-featured Approved Food. The discount food retailer saw itself in the top three fastest online retailers according to the IRUK, alongside global giants eBay and Zara, thanks to an eCloud solution.
UKFast has also seen eCloud added into the latest G-Cloud government tender round, boosting the firm's public sector presence.
Jones added: "We have some extraordinary things in the pipeline at UKFast. Seeing the results from the past two years with eCloud, I am excited to see where the next two years will take us."
The hosting and cloud provider saw turnover increase 24% in 2014, tripling in five years to £28.9 million and posted an EBITDA of more than £15 million.
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