News : Evolve IP to Receive Majority Investment from Great Hill Partners
Wayne, PA, USA, May 12, 2016 -- Evolve IP, The Cloud Services Company™, announced that it will receive a majority investment from Great Hill Partners, a middle-market growth-oriented private equity firm, providing growth capital and significant additional funds for strategic acquisitions. Evolve IP will use the capital to accelerate its growth plans, including increasing its product offerings, growing its geographic footprint and expanding headcount across all areas, while continuing to provide its customers and partners with solutions that are fast, efficient, cost-effective and secure. Evolve IP will also use this investment to expand and enhance its national distribution channels, including Value Added Resellers, Direct Market Resellers and Master Channel Partners.
"With this investment, we will have the opportunity to accelerate our growth, organically and via acquisitions, much more quickly than we could have as a closely held company. Our priorities will be to provide new and existing customers with a wider range of cloud-based solutions, services and functionality to enable them to meet their business goals effectively and affordably. We will also invest in our growth by expanding into new markets and verticals and enhancing our capabilities across functional departments, including sales, marketing, engineering and support. This is an exciting moment for Evolve IP, and a testament to the hard work and dedication of our associates," said Thomas J. Gravina, Chairman, CEO and Co-Founder of Evolve IP.
"Evolve begins its next chapter with a significant investment from Great Hill Partners, which is well-aligned with our vision, has a deep understanding of our business and industry, and appreciates and respects our culture. With this transaction, Evolve IP will have the resources available to take the Company to a new level, enabling us to scale the enterprise significantly through both organic growth and substantial acquisition capital. We look forward to working with Great Hill to compound the initial success of Evolve IP to take full advantage of the cloud communications opportunity," said Michael A. Peterson, Vice Chairman and Co-Founder of Evolve IP.
Posted by Veronica Silva Cusi, news correspondent
Source: Evolve IP
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About Evolve IP:
Evolve IP is a leading cloud-based technology provider that offers businesses a better way to buy and manage their applications, infrastructure, and security solutions. We help organizations outsource technologies that are not within the budget, skills, or focus of their IT resources. Evolve IP customers upgrade their legacy environment without capital expense, accomplish more with enhanced features, increase stability and control with an award winning portal and reduce their carbon footprint, which allows them to focus on their core business and reduce costs.
About Great Hill Partners:
Great Hill Partners is a Boston-based private equity firm. Great Hill Partners partners with rapidly growing middle market companies operating in the following sectors: business services, consumer services, financial technology, healthcare technology, Internet, logistics, media/communications, software and transaction processing.
Published: Friday, May 13, 2016