Calligo is part of the 'Infrastructure as a Service' (IaaS) market, which grew 51% in 2015 and is expected to more than triple in size by 2020. During the first nine months of 2016 Calligo grew its revenues by over 100% year-on-year.

Investcorp supports companies with a particular focus on Data / Analytics, IT Security and Fintech / Payments and has raised more than $1 billion in dedicated technology funds. Other recent technology transactions include the sale of CSIdentity to Experian, the sale of TDX Group to Equifax Inc; the partial exit of Fishnet through a merger with Accuvant; the ultimate full sale of Skrill Group to Optimal Payments (now renamed Paysafe Group plc); and the flotation of Sophos Group plc on the London Stock Exchange.

Julian Box, Chief Executive Officer of Calligo said: “We’re extremely pleased to have found the right partner in Investcorp during this exciting period of growth for the business. I believe Investcorp’s proven track record, global presence and extensive network will support the company’s continued international expansion and product innovation. Our ability to raise funding of this size is a fantastic validation of the business we’ve built and is great for the wider technology industry in Jersey as it’ll bring about increased awareness of the island, create many new jobs and act as inspiration to other local businesses.”

Gilbert Kamieniecky, Managing Director in Investcorp’s Corporate Investment team in Europe, added, “The mid-tier enterprise segment is lagging behind in adopting cloud solutions. In our view Calligo pairs an attractive market opportunity with a highly compelling product and a proven and experienced management team. With our strong track record of working with fast-growing, founder-owned businesses in the technology space, we believe that we will be a valuable partner to the company as it continues to expand internationally, both organically and through targeted add-on acquisitions.”