Rocela on shopping spree after first round of funding

Scotland-based Oracle VAR tops growth list of VC-backed firms

Oracle VAR Rocela has been listed as the fastest-growing venture-backed company in the UK and intends to use its funding to embark on an acquisition spree.

The list, complied by UBS Wealth Management and conducted by research centre Library House, showed the Scotland-based reseller has a compound annual growth rate of 224 per cent. Last year the VAR’s turnover was £20m. The reseller completed its first round of funding earlier this year when it received £1.3m from HBOS.

Speaking to CRN, Rocela chief executive Martin Mutch, said: “The funding has certainly helped our growth this year and will help our plans for acquisitions. We are in negotiations with two companies and because there is still growth in the Oracle consultancy market, we want to consolidate our position.

“We are actively investigating companies with either an Oracle or Software Asset Management (SAM) focus at the enterprise level.”

Mutch said the firm has already partnered with resellers to enable it to provide a total solution on various projects and an acquisition may come from such partnerships.

He said following the acquisition of Oracle VAR Incisus last November, Rocela will continue to aim for expansion over the next year.

Shaun Frölich, chairman of VAR Teksys, has worked with Rocela in the SAM space.

“There has already been some consolidation in the SAM market and this will continue. There are pioneers who will launch and bigger players who will wait for their point of entry by buying them.

“The SAM market is in a growth phase and will be for a long time.”