Firm lands Santander investment and plots expansion of business outside of current base
“Always-on” wireless provider Urban Wimax Networks says it will increase its staff numbers to 35 following a £2.15 million investment from Santander.
The company, which operates a dual network platform supplying more than 500 SMEs in London, secured the funding through the bank’s Breakthrough programme which supports high growth businesses.
Wimax will add 15 new positions to its existing 20 employees. The firm operates a wireless network which it claims provides a 99.9 per cent service level agreement and also pipes a fibre line into its customers’ premises.
The dual capacity means the firm believes it can offer 100 per cent always-on WiFi access and high odds against it ever going down.
“We operate two separate networks, one goes above ground and one goes
the odds and we’re one in 678 million-to-one against having a dual failure, which works out at one failure in 128 years,” commercial manager Alex Villa told Mobile News.
Uban Wimax Networks currently employs 20 individuals, had a turnover of £2.84 million and posted net losses of £315,000.The company achieved healthy Ebitda of £476,000 and attributes its losses to the investment in its network.
For 2014, it is forecasting 22 per cent growth in turnover to £3.45 million, with Ebitda of £476,000 and net losses of £419,000.
The company is well financed, plans to grow outside of its inner-London base, increase the functionality of its network and grow its marketing and technical teams.
“We’ve got new kit which moves the network up into a new broadband spectrum, so we’re carrying a greater capacity with an additional level of data management embedded in there,” adds Villa.
“We’re looking at bringing in another level of technology which will allow us to manage the core network, so we’ll tie that into giving the end user the ability to review data as it’s being consumed live, and be able to manage that on a minute-by-minute basis.
“So all of a sudden they’ve got a massive telephony requirement, it’s not going to kill any of their video linking or streaming and also allow them to maintain good voice connection over the network.”