In a recent article in the Computer Business Review Alastair Mitchell states that to compete with the US’s Silicon Valley start-ups, UK based companies need more venture capital in the latter stages of their development. He should know – his company Huddle (provider of cloud based content management and collaboration and sharing platform services) is proof positive that late stage funding is crucial to continued growth.
Mitchell believes that successful start-ups can’t keep going on to become world class businesses because many can’t raise enough B, C, and D stage funding to sustain and foster growth. The stage C funding used to help grow Huddle came from the US and now this powerhouse is larger than ever with offices in San Francisco and New York as well as their home office in London’s East End. In this case the old “if you can’t beat them join” solution that his company took advantage of is out there for others – and they’ll likely need it unless UK based funding increases dramatically.
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