UK cloud technology platform Civo secures £ 1.4million from THG Ingenuity, backed by Softbank
UK based Civo, the leading pure-and-simple cloud native service provider, making it easy for tech companies to host core applications. Today, she announced that THG Ingenuity, the technology arm of THG, has invested £ 1.4million to take a minority stake in the company.
THG Ingenuity’s first investment
This is THG Ingenuity’s first strategic investment since its inception in May 2021, when Softbank Group invested $ 730 million in THG with an option for an additional $ 1.6 billion investment in THG Ingenuity, a platform. state-of-the-art exclusive technological form.
The funding marks an important phase of growth for Civo as it creates the go-to platform for building cloud-native Kubernetes applications. The platform offers a host of simplified features for building scalable, zero-downtime e-commerce applications that integrate with THG Ingenuity.
Ultimately, THG Ingenuity becomes Civo’s exclusive datacenter hosting and enterprise sales partner, accelerating the global deployment of Civo regions in datacenters and large development teams around the world.
Mark Boost, CEO and Co-Founder of Civo, said: “We are delighted to announce THG’s investment which will bring Civo technology to more people around the world as we grow our capabilities. THG Ingenuity is the leading global end-to-end digital commerce platform, and I’m proud that Civo technology now strengthens its cutting-edge technology stack and helps brands create frictionless digital experiences for their customers.
John Gallemore, CEO of THG Ingenuity, said: “We created THG Ingenuity to remove the burden of multi-partner relationships and complex software and infrastructure. In turn, THG has sought out top-notch partners who help us create the most transparent, efficient and scalable direct-to-consumer retail models on a single digital platform. With Civo, we have found the future of cloud native innovation in the UK. Civo is a fast, developer-friendly platform to accelerate our digital business roadmap. We are delighted to invest in Civo and support the next growth phase of this impressive technological achievement. “
Fastest Managed Kubernetes Provider
Currently, Civo, founded by Mark Boost, Andy Jeffries and Barry Fenning, is the world’s fastest managed Kubernetes provider with a fully usable cluster that deploys in under 90 seconds. It’s also the first production-ready K3s platform, super efficient Kubernetes distribution that focuses on speed, simplicity, and lower overhead.
He developed a solution for cloud native projects with particular emphasis on launch speed, value for money and ease of getting a complete system up and running without technical barriers.
Now, Civo is the world’s first production-ready Kubernetes platform to run on K3s. This rapidly growing distribution of Kubernetes reduces the resources required, which means that a cluster can be launched in less than 90 seconds, not several minutes.