Evolve IP, a Wayne, PA-based cloud services company, is to receive a majority investment from middle-market growth-oriented private equity firm Great Hill Partners.
The terms of the transaction were not disclosed.
The company will use the proceeds to accelerate its growth plans, including:
– increasing its product offerings,
– growing its geographic presence,
– expanding headcount across all areas, and
– enhancing its national distribution channels, including Value Added Resellers, Direct Market Resellers and Master Channel Partners.
Launched in 2007 by Thomas J. Gravina, Chairman and CEO, and Michael A. Peterson, Vice Chairman, Evolve IP provides solutions designed to provide organizations with a unified option for 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.