BGF invests £6.4m in web hosting company Miss Group
High-growth Miss Group, a web hosting company, has received a £6.4m investment from BGF to accelerate its international expansion strategy.
The group will use the funding to build further scale through driving organic growth and acquisition of web hosting companies in new and existing markets.
Founded by serial entrepreneur Mattias Kaneteg and headquartered in Manchester, Miss Group provides a range of services predominately to SMEs, including domain registration, site building, website hosting and email management.
Since its launch in 2014, the group has opened more than 70,000 accounts, established offices in Stockholm, Miami and Sofia, and has also acquired two businesses in the UK and USA with the assistance of Manchester-based corporate financiers, Sedulo.
Miss Group now employs more than 50 people globally and has developed a reputation for high quality customer service with a 9.8 rating on TrustPilot.
To further support its buy and build strategy, Miss Group has appointed Phil Male as non-executive chair following an introduction by BGF.
Phil is a former chair of UK2 Group and previously served as chief strategy officer at Cable & Wireless Worldwide.
He is also chair of BGF-backed Virtual1 and has successfuly built and exited multiple businesses in the technology sector.
Mattias Kaneteg, founder and chief executive of Miss Group, said: “We have moved at pace to add scale to our platform, improved our market share and increased our global coverage."
“Now that we have an established model and highly successful marketing campaigns which have generated strong organic growth, we are in a strong position to accelerate our expansion through acquisitions."
“As our minority partner, BGF provides access to a large network, both in the UK and internationally, and potentially more funding as we expand. We are very much looking forward to working with them.”
Pinesh Mehta, an investor at BGF who will join the board of Miss Group, said: “With a proven track record in building successful businesses, Mattias and his team have quickly scaled Miss Group by attracting and retaining a high volume of customers."
“This is testament to the group’s model, relationships with customers and partners, and focus on high-quality service."
“Miss Group has a clear and well thought out international growth strategy which they are ready to push ahead with. We’re delighted to be supporting this and to be backing such an ambitious, innovative and professional team.”
The investment in Miss Group was co-ordinated by Stuart Dutton of Sedulo, and led for BGF by Pinesh Mehta, Rhys Davenport and Neil Inskip who are part of the Manchester-based team covering the North West.
The team recently announced investments in the owner and operator of Albert’s Schloss and Rudy’s Neapolitan Pizza, Mission Mars, and digital mapping company Gaist.
Turner Parkinson acted for BGF on legal matters, while Squire Patton Boggs and Sedulo acted for Miss Group.