UPSTACK, a fast-growing platform that transforms the architecture and sourcing experience for businesses seeking cloud and internet infrastructure solutions, has acquired CloudAdvise, a technology infrastructure advisory firm serving midmarket and enterprise organizations spanning the globe. Terms were not disclosed.
UPSTACK’s acquisition of New York-based CloudAdvise is part of the company’s strategy to accelerate the growth of its industry-transforming platform, which combines the leading internet infrastructure advisors with proprietary software and support resources.
The growth strategy is supported by a $50 million equity investment from Berkshire Partners, announced in April, which will enable the company to continue to scale its platform through technology expansion and partner acquisitions.
As part of the investment, CloudAdvise founder and CEO Greg Moss will join UPSTACK as a partner and managing director and a true equity stakeholder. Moss will serve as an advisor to business customers that are sourcing data center, colocation, cloud, network connectivity and other technology solutions through the UPSTACK platform.
Moss, a serial entrepreneur and startup incubator, has more than 20 years of experience developing, designing and taking innovative products to market. He assisted with the early-stage incubation of Online Retail Partners and In-Store Broadcasting Network. In addition, he founded ventures in the retail and fintech industries, including TrustCash and eSecurePoints. Later Moss spent five years in partnership development at Internap, where he saw the opportunity to transform the indirect sales channel model for the small and medium business (SMB) market.
In 2015, Moss founded CloudAdvise to help SMBs with the procurement of their data center and cloud infrastructure services. “I noticed that most of my customers and other IT leaders in SMBs were struggling to keep their heads above water with limited staff,” Moss said. “They needed to focus on mission-critical priorities and didn’t have time to field calls from dozens of vendors to find, source, validate and negotiate for services in a rapidly changing landscape.”
CloudAdvise, he explained, steps in to insulate clients from the constant contact from vendor sales teams and eliminate the administrative burdens of the procurement process by researching services and presenting only the solutions that are the best fit customers’ needs. The service caught on, and CloudAdvise grew rapidly through trusted customer referrals. Eventually, the company extended its research services to larger organizations, assisting non-technical procurement teams with purchasing infrastructure in more than 15 countries.