33 Cloudreach

Doug Woodburn
clock • 1 min read

Revenue: £122.2m (-1%)

Net profit: -46.6%     Staff: 722

This London-based cloud migration powerhouse is gearing up for a "new phase of growth" that will see it expand into Canada, Poland, Spain and the Nordics in partnership with key ally AWS, it announced in August. Following an international expansion blitz, the Blackstone-backed outfit already has offices in the US, Germany, France, Switzerland and the Netherlands. Accounts for ‘Cloudreach Acquisitions Ltd' covering the year to 31 July 2020 show revenues falling one per cent to £122.2m. Net losses widened from £33.9m to £56.9m.

Covid impact

Despite posting flat revenues in its fiscal 2020, Cloudreach claimed that Covid has stoked higher demand for the cloud-based migration services in which it specialises.

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