ShoreGroup, Inc., a NY-based provider of software and managed services to support network infrastructure, secured a growth equity investment from Francisco Partners, a global technology-focused private equity firm.
The amount of the investment was not disclosed.
The funding, expected to close within 60 days, will support the next phase of ShoreGroup’s growth in partnership with its current leadership team.
Led by Robert Veghte Kennedy, President and CEO, ShoreGroup provides software and networking management service solutions to major enterprises, cloud and hosted solution providers, and government agencies to reduce IT operating costs and increase their systems availability while optimizing their unified communications, contact center, virtualized data center and network assets.
The company was advised by Moelis & Co. and Locke Lord. Kirkland & Ellis LLP and Evercore advised Francisco Partners.