Clydesdale Bank Funding Supports Neverfail Expansion Plans
AUSTIN, Texas, Aug. 28, 2012 /PRNewswire/ — Neverfail Group®, a leading global software company specializing in affordable continuous availability and disaster recovery solutions, is pushing ahead with expansion plans, thanks to a new £4 million funding package from Clydesdale Bank.
Neverfail’s software is designed to help businesses run 24/7 without the need for major investment in business continuity resources. Their world-class software solutions enable users to eliminate downtime by remaining continuously connected to live software applications – irrespective of hardware, software, operating system, or network failures.
Neverfail Group, headquartered in Reading, U.K., operates internationally, and, with its very high levels of export sales, is the kind of business that will drive growth and recovery in the UK plc. The Group’s international clients span a wide range of sectors including healthcare, legal, financial services, education and the public sector.
The funding package for Neverfail has been provided by Clydesdale Bank’s Growth Finance team. This specialist team provides sophisticated funding solutions for venture capital-backed businesses with substantial revenue growth and strong intellectual property assets.
“We are excited about the opportunities this funding presents for us to move forward with our plans to offer our existing and future customers with even more robust business continuity and disaster recovery solutions,” said Darren Taylor, Chief Financial Officer at Neverfail. “In today’s tough economic climate, this is a strong endorsement of Neverfail’s business, and its position as a leader within the industry.”
“Neverfail is another great example of a high growth, intellectual property-rich business choosing Clydesdale Bank, and we are delighted to be working with them,” commented Chris Bone, Associate Director, Growth Finance at Clydesdale Bank. “Their software provides genuine innovation in the business continuity market; including features such as the ability to readily deploy to the Cloud. The management team has the skills, vision and ambition to drive the business forward – this deal will enable them to accelerate their growth.”
About Clydesdale Bank
Clydesdale Bank is part of the National Australia Bank Group. Clydesdale Bank was established in 1838 in Glasgow and, as one of Scotland’s largest banks, has a proud history of innovation and support for industry and communities.
Neverfail is a leading global software company providing affordable data protection, high availability, and disaster recovery solutions focused on keeping users productive. Neverfail’s software solutions enable users to remain continuously connected to the live software application irrespective of hardware, software, operating system, or network failures. Neverfail’s mission of eliminating application downtime for the end user delivers the assurance of business continuity, removes the commercial and IT management costs associated with system downtime, and enables the more productive use of IT resources. Neverfail, a US Managed Microsoft Gold Certified Partner, is a consistent and active early adopter participant and contributor in all mission-critical Microsoft applications. It is also a member of the Microsoft SQL Server Always On Alliance. More information can be found at www.neverfailgroup.com.
For further information, please contact:
Phone: +44 (0) 141 333 9585
Kristin Parran Faulder for Neverfail
Phone: 00 + 1 (617) 966-4126
Neverfail is a trademark of Neverfail Group Limited. All other trademarks, including Microsoft, Windows, and Exchange, are trademarks of their respective companies. Copyright © 2011 Neverfail Group Ltd. All rights reserved. No part of this publication may be reproduced, transmitted, transcribed, or translated into any language or computer language, in any form or by any means without prior express, written consent of Neverfail Group Limited.
SOURCE Neverfail Group