Education broadband provider secures £1m from NPIF II and Mercia - Insider Media
Summary
A Yorkshire-based provider of broadband and cloud services to schools across the UK has secured \xa31m from NPIF II Mercia Debt Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund II (NPIF II), and Mercias SME Loans fund.Talk Straight, which is based in Ilkley and employs 70 staff, supplies more than 2,500 schools and academies using its own cloud-based services, which enables it to maintain strict controls over the flow of traffic and content.The company was founded in 2005 by David Tindall and Timothy Sedgwick and initially provided internet phone services to businesses. However following changes to the rules on school broadband, it identified an opportunity to offer a specialist service, with schools now making up more than 90 per cent of its client base.Steady growth has been achieved in recent years, with turnover increasing by 15 per cent to almost \xa311m in the year to May 2024.The NPIF II funding will provide Talk Straight with additional working capital to support its growth following a buy-out of the business. The buyout has given control of the business to David Tindall, while enabling Timothy Sedgwick who retired five years ago to realise his investment.The funding will also enable it to bolster its team with the creation of about six jobs and expand its sales and marketing activities.David Tindall, chief executive at Talk Straight, said: "Traditionally school broadband was provided by local authorities but increasingly they are pulling out of the market and schools can now shop around for the best deal. "Andy Heaton, of Mercia Debt, added: "Talk Straight has been expanding steadily in recent years. "Lizzy Upton, senior manager at British Business Bank, said: "The move from local authority supplied school broadband to independent suppliers has driven a period of high growth in the industry.
Funding
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