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DWF advises CloudCall on £2.4m fundraise

04 February 2019

DWF has advised software and communications company CloudCall Group plc on a successful fundraising of £2.4 million which will further aid the company's strategic plan to expand on new product development initiatives.

The DWF corporate team has worked with CloudCall on a number of recent deals including the AIM-listed company's previous fundraise which completed in November 2017. Since then, CloudCall has made a number of significant investments in its platform architecture, product and services, and sales and marketing capabilities. In 2018, CloudCall launched its SMS message service, which together with its existing voice service, enabled CloudCall to offer a 'unified communications' to its customers.

This recent fundraising is intended to strengthen the Company’s balance sheet to further de-risk the Company’s growth and expansion plans and will also be used to invest in sales and marketing to support the development of its new messaging products.

CloudCall is a leading cloud-based software business that integrates communications technology into customer related management (CRM) platforms. DWF partner Jeremy Swift led on the legal aspects of the deal alongside senior associate Jemil Visram, with support from solicitor Siobhan Cameron.

Jeremy Swift said: "CloudCall has been a long-standing and valued client and it's great to see the business going from strength to strength. Over the last year, the business went through an exciting period of growth with innovative new product launches alongside an integration with Microsoft Dynamics 365 which is expected to deliver further growth opportunities in 2019 and beyond. This fundraise will further boost CloudCall's ambitious commercial strategy and we're proud to support them on their journey."

Simon Cleaver, chief executive officer at Cloudcall, added: "Once again, DWF has been instrumental in helping us with a successful fundraising which will allow us to continue the growth of the business from a position of greater strength."

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