YFM injects £2.75m into Sipsynergy

The fresh capital will enable the business to expand its sales and support teams. Sipsynergy is also in the process of making a number of senior hires, including the appointment of a new CEO, chairperson and operations director.

YFM has had a quiet year to date on the deal-making front, with Sipsynergy marking the firm's first acquisition of 2016. However, in March, the GP exited its investment in another cloud-based call management company Callstream Group in a trade sale to J2 Global.

The latest deal also comes shortly after Alma Mundi Ventures led a €1.5m funding round for Sipsynergy's Spanish competitor Enigmedia.

Company
Founded in 2008, Hertfordshire-base Sipsynergy provides SMEs with cloud-based communication systems including audio and video calls, as well as instant messaging platforms. The business has a partnership with IT firm Cisco.

People
YFM – Ian Waterfield (investment director).
Sipsynergy – John Fox (co-founder).

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