Concurrent Thinking secures £800k to optimise data centre efficiencies
Midven contributed to the round alongside The ERA Foundation, The Carbon Trust, Forward Group and Finance Birmingham.
Share allotment filed at Companies House
Data centre software specialist Concurrent Thinking develops high-performance products to reduce energy usage, carbon emissions and operational costs.
Data centre software specialist Concurrent Thinking has secured £800k in a funding round led by Midven, alongside participation from The ERA Foundation, The Carbon Trust, Forward Group, various angels and Birmingham City Council via Finance Birmingham. The capital will be deployed to expand the team, drive sales growth and support further development work.
The company has created products including its Data Centre Infrastructure Management solution and Concurrent COMMAND suite to help operators reduce power and cooling overheads. Incoming chief executive Terry Hale noted that rising energy and staffing costs make efficient data centre management essential as cloud computing adoption increases.
From the founder
"Against a background of rapidly increasing costs for power and staff, and an increasingly competitive marketplace together with the uptake of cloud computing, the trend is clear – data centres will need to become significantly larger, be more cost effective and better managed."
Terry Hale
Chief Executive at Concurrent Thinking
Investor perspective
"Concurrent Thinking is well placed to evolve from development to commercialisation, having recently recruited a CEO with a track record of delivering sales growth."
Duncan Kerr
Investment Director, Midven
Use of funds
- 01Grow the team
- 02Invest in sales and marketing
- 03Fund research and development
Investors
Categories
About the company
Concurrent Thinking
Concurrent Thinking develops software to optimise data centre efficiencies and reduce energy usage.