FlyForm, a UK-based Elite ServiceNow partner, announced that it has received a growth capital investment from Lloyds Bank, in partnership with Izy Capital as Lead Advisor.
With this investment, FlyForm will continue to consolidate its position as the leading ServiceNow consultancy firm, before expanding into complementary market spaces, ultimately targeting annual revenue of £1 billion over the next 10 years.
Founded in late 2015 and headquartered in Cardiff (Wales), FlyForm is led by co-founders Arron Davies (COO) and Philip Davies (CEO). Since its early days, the company has quickly expanded to work with clients across the UK and experienced compounded annual growth rate of 261%. The company’s current clients span a variety of sectors, including government, financial services and healthcare.
“We are beyond grateful to Lloyds Bank and the Izy Capital team for their help in achieving this massive opportunity,” says CEO Philip Davies. “I look forward to working with my co-founder Arron and our growing team toward our vision of building Wales’ first global technology consultancy with £1bn in annual revenue. This injection of capital will help us accelerate even faster into the next level, as well as being a huge vote of confidence in our vision to continue supporting the local economy with hundreds of jobs in the near future.”
FlyForm works exclusively with ServiceNow – one of the leading global B2B cloud platforms with 2019 revenue of $3.5bn. Earlier this year, FlyForm achieved ServiceNow Elite Partner status, the highest ranking level for a UK-based partner.
“FlyForm are a fantastic example of the vibrancy and the growth opportunity within the ServiceNow partner ecosystem,” says Seb Fitzjohn, Vice President of Alliance & Channel Ecosystem EMEA at ServiceNow. “A big part of ServiceNow’s strategy is to create the conditions for our partners to invest and scale, based on delivering customer success, and amazing experiences on the NOW platform.”
“We are delighted to support FlyForm with their scale objectives,” says Christopher Ryan, relationship manager at Lloyds Bank. “Their growth trajectory over the past several years has been remarkable and we very much look forward to a long-term relationship as digitisation is forced to the top of all enterprise agendas.”
David Rees, Managing Partner at Izy Capital, says, “We have been working with FlyForm for several years. They are an awesome bunch of guys as borne out by CAGR since 2016 of 261%. With the widescale migration to enterprise cloud digitisation and the support of the incredible ServiceNow ecosystem, our clear sense is this is just the beginning.”
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.