THG Ingenuity invests £1.4 million in cloud technology platform Civo

By Joy Dumasia

Civo, the first pure-play cloud-native service provider, and THG plc (THG), a global technology platform specialising in taking brands direct to consumers, together announced THG Ingenuity, the technology Division of THG, has invested £1.4 million to take a minority stake in Civo. Civo’s developer-focused Kubernetes platform will strengthen and accelerate the development of the technology stack that underpins THG Ingenuity, its cutting-edge proprietary technology platform.

The deal is THG Ingenuity’s first strategic investment since it announced in May 2021 that Softbank Group had invested $730 million in THG with an option for a further $1.6 billion investment in THG Ingenuity THG’s cutting-edge proprietary technology platform.

The funding comes at an important growth phase for Civo as it creates the go-to platform for building cloud-native Kubernetes applications. Civo is currently the fastest managed Kubernetes provider globally, with a fully usable cluster deploying in under 90 seconds. It’s also the first production-ready K3s platform, the super-efficient Kubernetes distribution that focuses on speed, simplicity and reduced overhead.

Mark Boost, CEO & co-founder at Civo, said: “We are delighted to announce THG’s investment which will bring Civo’s technology to more people around the world as we grow our capabilities. THG Ingenuity is the leading global platform for end-to-end digital commerce, and I’m proud that Civo technology will now strengthen its cutting-edge technology stack and help brands create frictionless digital experiences for their customers. For too long, hyperscalers have oversold and underdelivered with shocking cloud bills. THG has already proven that there is a better way forward, delivering a global e-commerce solution that drives down cost. Core to this plan is infrastructure, and core to that infrastructure is Civo, a platform that is leading the way for a cloud-native future.”

Recently, IBS Intelligence reported that Buy Now Pay Later solutions provider Zip today announced a partnership with THG to provide interest-free payments over four instalments to customers shopping on THG sites and with brands using the THG Ingenuity end-to-end e-commerce platform.