Glownet announces Series-A investment and appointment of a new CEO
£2 million round led by London-based VCT Downing Ventures, Siebe Gerbranda taking over as CEO.
By Scott Witters, Founder & Executive Director, Glownet
London, 23 April 2018 – Exciting times here at Glownet. Thanks to our loyal partners and clients, as well as our amazing, hardworking team, we have achieved more than we ever could have imagined. We started the year by reaching the 500-event milestone and cementing our global market leadership position. Following that we have delivered over 65 events, including the New Zealand Rugby Sevens, and the Ultra Music Festivals in Miami (VVIP), Cape Town and Johannesburg.
Today is another defining moment in our short history. I am proud to announce that Downing Ventures is joining us as investor and growth partner. Their experience in disruptive technology businesses, as well as their established presence and network in our core markets make them our ideal partner for fast, sustainable growth. Their support will allow us to strengthen our commercial resources, invest in our core technology and make our products available to new verticals and markets.
This new funding allows us to enact our next phase of growth. I am pleased to announce that Siebe Gerbranda will now assume the CEO responsibilities so I may devote my energy to accelerating scaling in key strategic markets whilst continuing to curate the vision for our product as we lead the transformation of our industry. Siebe joined us as COO in August. His global tech experience will allow us to maximise the scalability of the business and drive further operational excellence throughout the company.
From the moment I joined Glownet last year, it was immediately clear that it has all the right ingredients for fast growth. An amazing team, very solid technology and a unique position in a growth industry. My task is both clear and challenging; enabling our team to drive aggressive expansion, in terms of both product and territory coverage.
The Glownet team has worked so hard over the last five years, and we are delighted to take our business to the next level. Our new relationship with Downing Ventures secures our advancement, increases our potential and promises an exciting future for Glownet.
James Lewis, Investment Director at Downing Ventures commented:
Scott, Siebe and the team have achieved great things so far in a market that continues to develop and change. We look forward to being a part of Glownet’s expansion both technologically and globally and are delighted to be working with them.
Edward Boddington, Director at Bosham Capital Advisors (BCA) noted:
BCA are thrilled with Downing’s investment in Glownet. We are confident in Glownet’s scalability potentials and look forward to seeing what is in store for the future.