Clydesdale Bank funding supports Neverfail expansion plans

8th August 2012

Neverfail Group, the global specialists in business continuity and disaster recovery software, is pushing ahead with expansion plans, thanks to a new £4 million funding package from Clydesdale Bank.

Neverfail’s software is designed to help businesses run 24/7 without the need for major investment in business continuity resources. Their world-class software solutions enable users to eliminate downtime by remaining continuously connected to live software applications - irrespective of hardware, software, operating system, or network failures.

Neverfail Group, based in Reading, operates internationally, and, with its very high levels of export sales, is the kind of business that will drive growth and recovery in UK plc. The Group’s international clients span a wide range of sectors including healthcare, legal, financial services, education and the public sector.

The funding package for Neverfail has been provided by Clydesdale Bank’s Growth Finance team. This specialist team provides sophisticated funding solutions for venture capital-backed businesses with substantial revenue growth and strong intellectual property assets.

Darren Taylor, Chief Financial Officer at Neverfail, commented:

“We are excited about the opportunities this funding presents for us to move forward with our plans to offer our existing and future customers with even more robust business continuity and disaster recovery solutions. In today’s tough economic climate, this is a strong endorsement of Neverfail’s business, and its position as a leader within the industry.” 

Chris Bone, Associate Director, Growth Finance at Clydesdale Bank, said:

“Neverfail is another great example of a high growth, intellectual property-rich business choosing Clydesdale Bank, and we are delighted to be working with them. “Their software provides genuine innovation in the business continuity market; including features such as the ability to readily deploy to the Cloud. The management team has the skills, vision and ambition to drive the business forward - this deal will enable them to accelerate their growth.”