Evolve IP will receive a majority investment from Great Hill Partners. The company will use the capital to accelerate its growth plans, including increasing its product offerings, growing its geographic footprint and expanding headcount.
Evolve IP will also use this investment to expand and enhance its national distribution channels, including VARs, resellers and master agents. The terms of the transaction were not disclosed.
Since launching in 2007, Evolve IP has built a portfolio of cloud services, including: virtual servers, disaster recovery, IP telephony, unified communications (Internet, phone and data) and contact centers. The company’s services are currently deployed in four continents and 15 countries, to more than 1,300 commercial business accounts with more than 100,000 users, licensed seats and managed end points.
“Since our founding, Evolve IP has grown into a top-tier cloud services provider that has brought more than 100,000 users into the cloud,” said Thomas Gravina, chairman, CEO and co-founder of Evolve IP. “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.”
