Dramatic changes to working environments and operating processes in the wake of Covid-19 encouraged a rapid adoption of digitalisation – something with which Extrinsica Global is familiar. Founded in 2010, the Oxford-based firm is a hyperscale cloud solution provider, specialising in building and managing complex cloud solutions in Microsoft Azure, a key part of the Microsoft cloud environment.
“We see ourselves as the organisation that takes businesses on their digital transformation journey,” says Simon Smith, chief executive at Extrinsica. “In the hyperscale cloud environment, there is a capability to implement new ideas quickly and to introduce cutting-edge platform services, neither of which can be matched by traditional in-house IT teams.”
R&D investment will help the business to scale
The company will use a £3.5m CBILS loan from BOOST&Co to accelerate the development of intellectual property. Extrinsica is continuing to refine its own automation technology, which will dramatically improve the productivity of its development and operations engineering team, and will ultimately enable the business to employ more junior engineers. The firm will also use the funds to expand its sales function and to double the size of its R&D team.
“Extrinsica empowers its clients to be agile by offering them cloud-hosted IT capabilities that they would never be able to match in-house,” says Lauren Couch, who led this deal for BOOST&Co. “A firm that is contributing to the growth and digitalisation of other organisations is one that we are thrilled to support.”