Covenco

What Covenco does

Covenco is a UK-based IT infrastructure and data management services provider, founded in 1993 and headquartered in Banbury with regional offices in Denmark and Spain. The company delivers a hybrid portfolio spanning Backup as a Service (BaaS), Disaster Recovery as a Service (DRaaS), ransomware recovery, managed security (SOC/SIEM, endpoint, XDR), and managed IT services, alongside a substantial enterprise hardware brokerage business stocking 44,447+ systems and parts from IBM, HP, Dell EMC, Lenovo, Cisco, NetApp, and Vast Data. Covenco holds IBM Gold Business Partner and Veeam Platinum Cloud Connect Partner status, providing accredited engineering support for IBM Power Systems (POWER7 through POWER11), FlashSystem storage, and Veeam-powered backup/DR offerings, with purpose-built UK disaster recovery infrastructure managing over 9 PB of customer data.

The company's go-to-market blends direct enterprise sales for managed services and complex hardware projects, an e-commerce web store with 38,000+ SKUs for standard hardware purchases, and channel partnerships with IBM and Veeam. Pricing is primarily quote-based for enterprise engagements and subscription-based for managed services and BaaS/DRaaS contracts, with a 96% customer retention rate signaling strong client stickiness. Covenco serves a customer base that includes UK NHS trusts, multinational manufacturers (Mizuno, Haribo, FUJIFILM, AGC, Hallmark), and enterprises across legal, construction, and logistics sectors. In 2026, the company consolidated Applied Tech, Covenco UK, and Covenco365 into a unified Covenco brand, expanded regional operations in Denmark and Spain, and extended its portfolio into quantum-safe encryption, immutable storage, and AI-powered cybersecurity integrations.

Name

Covenco

Legal name

Covenco Ltd

Website

https://covenco.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

101–250 employees

Short description

Covenco is a UK-based IT infrastructure and data management services provider offering BaaS, DRaaS, ransomware recovery, managed security, and enterprise hardware brokerage. It serves enterprises, NHS trusts, and manufacturers across the UK, Europe, and globally via IBM Gold and Veeam Platinum partnerships.

Ownership category

akta.pro rank

Headquarters

HQ city

Banbury

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Inventory and Supply Chain, Personnel, Infrastructure, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Hardware Sales and Brokerage: Covenco buys, sells, and leases new and refurbished computer hardware, storage, and supporting software from IBM, HP, Dell/EMC, Lenovo, Cisco, and NetApp. The company maintains an inventory of over 44,000 hardware items in stock for immediate global shipping. Revenue comes from hardware margins, brokerage fees, and buy-back services.
2. Data Management and Backup Services: Managed data backup services including Cloud Backup (BaaS), Veeam Cloud Connect Backup, Tape Out Service, Microsoft 365 Backup, and On-Premise Backup. Revenue generated through recurring service contracts and per-incident recovery services.
3. Disaster Recovery Services: Disaster Recovery as a Service (DRaaS), High Availability services, Workplace Recovery, and Traditional Disaster Recovery. Provides ransomware recovery with 24/7 support. Revenue from service contracts with SLA guarantees.
4. Managed IT Services: Comprehensive managed services including IT infrastructure management, cloud services, cyber security (SOC/SIEM, penetration testing, incident response), virtualization, and computer relocation. Revenue from ongoing managed service agreements.
5. IBM Services and Support: IBM Power Systems and Storage services including hardware maintenance, software support, AIX/iOS upgrades, and Power Virtual Server. As IBM Gold Business Partner, provides certified IBM engineering support.
6. IT Asset Disposition (ITAD): Fully accredited asset recovery and disposal services, including buy-back of hardware as part of datacenter refresh cycles. Compliance-focused data destruction and recycling services.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels7 records

Core offering

Covenco is a UK-based IT solutions provider that delivers enterprise data management services combined with IT infrastructure hardware brokerage. Core offerings include Backup as a Service (BaaS), Disaster Recovery as a Service (DRaaS), 24/7 Ransomware Recovery, managed SOC/SIEM cyber security, and managed services. The company also acts as an IBM Gold Business Partner and Veeam Platinum Cloud Connect Partner, selling new, unused, and refurbished enterprise hardware from IBM, HP, Dell EMC, Lenovo, Cisco, and NetApp through a 38,000+ SKU web store and direct enterprise sales.

Product overview

Covenco is an IT solutions provider offering data management services combined with IT infrastructure and hardware brokerage. The core offering consists of Backup as a Service (BaaS) and Disaster Recovery as a Service (DRaaS), supplemented by ransomware recovery, cyber security, and managed services. Infrastructure offerings span multiple vendor brands (IBM, HP, Dell EMC, Lenovo, NetApp, Cisco, Vast Data) across servers, storage, and networking. Services include ITAD, hardware brokerage, maintenance, virtualization, and cloud migration. The portfolio includes Veeam-powered backup solutions, IBM FlashSystem storage, IBM Power Systems, and partner cybersecurity integrations (Sophos, Mimecast, Darktrace, Cynet). The Covenco Web Store provides e-commerce access to over 38,000 hardware SKUs.

Differentiator

Problem solved

Functional benefit

Products and services

• Backup as a Service (BaaS) Cloud-based data backup solution with off-site/private cloud and on-premises options, available with immutable and air-gapped protection, for organizations needing off-site data protection.
• Disaster Recovery as a Service (DRaaS) Cloud-based and physical disaster recovery solution with clean hardware deployment for ransomware and disaster scenarios, enabling rapid return to business operations for organizations of all sizes.
• Ransomware Recovery Service 24/7 incident response and recovery service with certified experts, ship-to-site hardware deployment, and five-step recovery process for ransomware-affected organizations.
• Immutable Backup Service Ransomware-resistant backup powered by IBM Safeguarded Copy or Veeam, ensuring backup data cannot be deleted, encrypted, or altered by attackers.
• Tape Out Service Cost-effective long-term data retention via offline, offsite tape backup with a fully automated and monitored solution for air-gapped protection.
• High Availability Service Constant data availability with clear SLAs for 24/7 business operations, minimizing failures and downtime for mission-critical workloads.
• Workplace Recovery Service Alternate office facilities with workstations, telephones, internet connectivity, and equipment for use when primary premises are unavailable.
• On-Premise Backup Service On-site backup hardware installation with IBM Safeguarded Copy for native immutable backups and near-instant recovery.
• Microsoft 365 Backup Dedicated backup solution for Microsoft 365 data covering Exchange, SharePoint, and OneDrive.
• End-User Security Service Multi-layered end-to-end protection combining endpoint protection, email security, web security, and next-gen firewalls for organizations.
• Incident Response Service Bespoke incident response planning covering preparation, detection, containment, remediation, and recovery from security incidents.
• Managed SOC & SIEM Services Real-time security monitoring with centralized data collection and incident highlighting across customer networks.
• Penetration Testing Services Security testing providing a realistic assessment of malicious user capabilities across customer networks.
• Cloud Assessment & Migration Service Planning and execution support for public, private, and hybrid cloud adoption including Azure, AWS, and multi-cloud solutions.
• Business Continuity Planning Consultancy services for developing optimal business continuity and disaster recovery strategies.
• Managed Services Tailor-made IT support with bespoke plans including pre-sales consultation, installation, and ongoing maintenance for enterprise IT environments.
• IT Asset Disposition Service (ITAD) Fully accredited asset recovery and disposal services ensuring secure data destruction and environmental compliance for decommissioned IT hardware.
• IT Broker Services International computer brokerage researching and locating IT hardware with required specifications at competitive prices, including new, unused, and refurbished equipment.
• Hardware Buy Back Service Hardware repurchase service for organizations upgrading or refreshing their data center equipment.
• Hardware & Software Maintenance Ongoing maintenance and support services for IT hardware and software systems across enterprise environments.
• Virtualisation Services Virtualization implementation and migration services for enterprise environments.
• Hypervisor Migration Services Migration services for moving enterprise workloads between hypervisor platforms.
• IBM Power Systems Services IBM Gold Business Partner services covering Power11, Power10, and Power9 systems support, capacity planning, configuration, installation, and ongoing management.
• IBM Power Virtual Server Cloud-hosted IBM Power systems on IBM Cloud with high availability replication and workload migration.
• Enterprise Compute Design Services Custom enterprise computing solution design for complex IT requirements.
• AIX and iOS Upgrade Services Operating system upgrade services for IBM AIX and IBM i (iOS) environments.
• Covenco Web Store Online e-commerce platform offering 38,000+ enterprise data center hardware items from IBM, HP, NetApp, Cisco, Dell EMC and other manufacturers, with new, refurbished, and unused hardware options.
• IBM FlashSystem Storage IBM FlashSystem product line including FlashSystem 5300, 5600, 7600, 9600, FS7300, and FS9500, resold and supported as IBM Gold Business Partner.
• IBM Power Systems Hardware IBM Power Systems server line including Power11, Power10, and Power9 models, resold and supported as IBM Gold Business Partner.
• Multi-Vendor Enterprise Hardware Resale Resale of new, unused, and refurbished HP, Dell EMC, Lenovo, NetApp, and Cisco enterprise hardware including servers, storage, and networking equipment.
• Software Licensing Services Software licensing advisory and procurement services supporting enterprise IT environments.
• Computer Relocation Services Physical relocation services for enterprise IT and computer equipment between sites.
• Finance and Leasing Services Computer systems finance and leasing options for enterprise customers acquiring IT hardware.

Quantifiable outcome

• 96% customer retention rate demonstrating high satisfaction and reliable service delivery
• +4 more outcomes

Named customers15 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration19 records

AI capability1 record

Feature4 records

Partnerships

18 partnerships are on record, tiered core and supporting.

• IBMcoreChannel Partner/ Reseller/ DistributorIBM Gold Business Partner for IBM Power and IBM Storage Solutions. Covenco provides the full range of IBM hardware including Power11, Power10, and Power9 systems, FlashSystem storage, and associated support services. IBM engineers hold necessary accreditations to support complex IBM environments.
• VeeamcoreChannel Partner/ Reseller/ DistributorVeeam Platinum Cloud Connect Partner. Covenco delivers backup and recovery services powered by Veeam technology, including Cloud Backup (BaaS), Veeam Cloud Connect Backup, and DRaaS solutions.
• SophossupportingTechnology or IntegrationCybersecurity technology partner providing endpoint protection, email security, web security, and next-gen firewalls as part of Covenco's end-user security service offerings.
• MimecastsupportingTechnology or IntegrationEmail security technology partner for cyber security services including email archiving, security, and continuity solutions.
• DarktracesupportingTechnology or IntegrationAI-powered cybersecurity technology partner for real-time threat detection and autonomous response capabilities.
• KnowBe4supportingTechnology or IntegrationSecurity awareness training partner for end-user security services helping organizations manage IT security risk through human layer security.
• MalwarebytessupportingTechnology or IntegrationEndpoint protection technology partner providing advanced malware detection and removal capabilities.
• CarbonitesupportingTechnology or IntegrationData protection and backup technology partner for cloud backup and business continuity solutions.
• QuorumsupportingTechnology or IntegrationBackup and disaster recovery technology partner providing one-step disaster recovery solutions for business continuity.
• MaxavasupportingTechnology or IntegrationIBM i high availability technology partner providing continuous availability solutions for IBM Power Systems environments.
• VMwaresupportingTechnology or IntegrationVirtualization technology partner for data protection and management solutions in virtualized environments.
• MicrosoftsupportingTechnology or IntegrationMicrosoft technology partner providing Microsoft 365 Backup services and Azure integration capabilities.
• BlanccosupportingTechnology or IntegrationData erasure and mobile device diagnostics partner for secure IT asset disposition and data destruction services.
• CynetsupportingTechnology or IntegrationExtended detection and response (XDR) technology partner providing comprehensive threat detection and response capabilities.
• QuantropisupportingTechnology or IntegrationQuantum-safe encryption technology partner providing Quantum Safe Encryption solutions to protect against quantum computing threats.
• TrustLayersupportingTechnology or IntegrationCybersecurity platform partner providing automated security testing and risk assessment capabilities.
• LRQAsupportingTechnology or IntegrationCybersecurity consulting partner for security assessment and compliance verification services.
• Object FirstsupportingTechnology or IntegrationOotbi storage platform partner providing ransomware-resistant, immutable object storage optimized for Veeam environments.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• SCC: European IT services and solutions provider offering hardware, managed services, and data center solutions across the UK and Europe. Closely comparable in size, IBM and Veeam partnership profile, and hybrid infrastructure/services GTM.
• Six Degrees Group: UK managed services, cloud, and data center provider focused on mid-market customers. Comparable in UK-centric geography, managed services delivery model, and enterprise infrastructure support capabilities.
• Claranet: UK and European managed services, hosting, and cloud provider serving mid-market enterprises. Comparable in geography, managed services model, and infrastructure-to-cloud transformation offering.
• Computacenter: UK-headquartered IT infrastructure services provider selling enterprise hardware, managed services, and data center solutions to mid-market and enterprise customers. Directly comparable in business model, customer profile, and vendor mix (IBM, HPE, Dell).
• ANS Group: UK-based cloud, managed services, and digital transformation provider serving mid-market and enterprise customers. Comparable in services-led model, UK customer concentration, and infrastructure management expertise.
• Softcat: UK IT reseller and managed services company focused on enterprise infrastructure, software licensing, and cloud services. Comparable in customer base, vendor partnership model, and hybrid hardware/services revenue mix.

Emerging players

• Rubrik: Cloud-native data management and security company offering backup, disaster recovery, and ransomware protection. Adjacent competitor in the data protection and DRaaS segments where Covenco competes, particularly with enterprise cloud-first customers.
• Druva: Cloud-native data protection platform offering SaaS-based backup, archival, and disaster recovery. Adjacent competitor in the backup-as-a-service segment, particularly for cloud-first and SaaS workloads.

Broad incumbents

• Rackspace Technology: Global managed services and cloud provider offering multi-cloud management, data protection, and infrastructure services. Comparable in managed services and DRaaS offerings but operates at significantly larger scale across multiple geographies.

Others

• Veeam Software: Direct competitor in backup and DR software and a key technology partner powering Covenco's BaaS and DRaaS offerings. Veeam's direct cloud-native and enterprise backup software competes with the service-layer Covenco wraps around it.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/Covenco
• Facebookfacebook.com/wearecovenco

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Covenco