The deal, through fund manager EV, is set to provide Wirral-based Channel Intellect, with help accelerating the business’ expansion, and market its e-learning portal for Cisco Partners.

The undisclosed funding amount is being provided jointly by the European Regional Development Fund and the European Investment Bank.

John Shannon, managing director at Channel Intellect, says that the deal marks ‘such an exciting time’ in the evolution of the business.

He adds, ‘The additional funding will allow us to accelerate our plans to further develop sales in the UK from our base in the North West and, in line with our clients’ expectations, to expand into Europe and the USA. Our programme of recruiting high-calibre industry professionals continues apace, fully supported by our new investor.’

Founded in 2006 by Shannon, Channel Intellect aids its 4,500 partners to develop their businesses by gaining higher levels of Cisco certification.

EV investment director Will Clark, comments, ‘Channel Intellect’s strategic input and deep knowledge of Cisco’s operation allowed it to be first to market with its innovative offering.

‘We have been impressed by the quality of the management team and the quality of the service, reflected in the high level of repeat business. The funding will allow it to scale up the business and pursue growth.’

The North West Fund provides debt and equity funding between £50,000 to £2 million for small and medium-sized enterprises in the North West of England through its £185 million fund.

The fund says that by 2022 it expects to have supported 800 businesses, created or safeguarded 14,000 jobs and added £300 million to the North West’s gross value.