Options, a provider of cloud and colocation services to the financial sector, has received nearly $100 million in funding from New York-based private equity firm Bregal Sagemount.

The money will be spent on improving Options’ cloud capabilities and expanding its infrastructure across key financial centers around the world.

“We believe that the rapid growth in the business in the last few years is underpinned by the accelerated wave of outsourcing in Financial Services IT globally. Sagemount is the perfect partner to support our mission to become a global power in this high growth sector,” said Nigel Kneafsey, CEO of the company.

Making money

Options was established in London in 1993 as a provider of technology services to hedge funds, and in 2002 it emerged as one of the first companies to introduce cloud platforms to the financial sector. Today it offers managed private cloud, colocation and managed application services across 20 countries.

The company’s services are delivered through a network of more than 30 data centers, which rely on Aristas’s low-latency switching technology.

Options was recently recognized as one of the UK’s fastest growing companies in the annual Sunday Times HSBC International Track 200 league table.

“We are thrilled to partner with Nigel, Danny, and the rest of the team at Options to support the company’s next phase of growth,” said Bregal Sagemount managing partner, Gene Yoon.

“The impressive success that Options has experienced over the past several years pays testament to the quality of the platform and the organization as a whole. We look forward to working closely with the Options team as we continue to expand our service delivery capabilities, develop additional offerings, and build a world-class organization in support of our customers.”