Chorus Global Secures Second Multi-million Growth Financing Round
HMT LLP advised award-winning Managed IT and Cyber Security Services provider Chorus Global, on their multi-million pound fundraise with growth capital provider Beach Point Capital.
The funding package will provide a successful exit for venture debt provider Growth Lending as well as giving Chorus additional capital to further scale their differentiated managed security proposition utilising Chorus’ proprietary onshore 24x7x365 Cyber Security Operations Centre.
Established in 1999 by Chief Technology Officer Mark Taylor, who brought on board Chief Commercial Officer and fellow shareholder Anthony Sherry in 2008, Chorus has grown to become one of the most widely accredited and experienced IT services firms serving the UK SME market across the breadth of Microsoft cloud services. As a critical IT development partner to their clients, Chorus has largely grown organically through expanding loyal client relationships.
Having proven it through direct sales and with a growing reputation as an MS security specialist, Chorus has attracted exclusive channel partnerships, including with TD Synnex across the UK and Europe. With key partnerships now onboard and volumes ramping-up, Chorus is uniquely placed to scale rapidly and further embed their market-leading security proposition in the SME market.
To support Chorus’ growth ambitions, the HMT team, led by Director Jack Longden, alongside Director Ricky Lane, ran a competitive end-to-end process which identified Beach Point Capital as the best fit for the business. Beach Point Capital’s investment provides further fire power to support the ambitious growth plans of the business as they further penetrate the SME Cyber Managed Services market.
Mark Taylor at Chorus commented:
“This deal represents an important moment for Chorus as we continue to grow rapidly and build value in the business. It will enable us to consolidate our position in the market, continue our ambitious organic growth plans and provide additional capital to execute strategic acquisitions. The advice the HMT team provided was exemplary throughout, and we’d like to thank them for their support.”
Ricky Lane, Director at HMT commented:
“We were pleased to advise Chorus on their second fund raise in two years and are delighted that the business has secured a second round of funding that will allow them to deliver on their ambitious growth plans. The transaction is a strong vindication of the strength of the Chorus offering in the SME cyber security market and its ability to scale. Beach Point Capital have provided a flexible structure that can grow as the business matures and scales.”
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