Mission, a Top 100 Public Cloud MSP and Amazon Web Services (AWS) partner, has lined up an $8 million line of credit from Silicon Valley Bank (SVB). The money will fund programs that help customers with cloud cost management services and more.
Mission is a familiar name in funding and financing markets. Private equity firm Great Hill Partners of Boston, Massachusetts invested $75 million into the MSP in November 2017.
Mission was formed via a merger of Advanced Consulting Partners Reliam, Stratalux, and G2 Tech Group last year. The company hit the market running and now has 200 customers across the United States. Collectively, Mission’s cloud operations professionals and solutions architects hold more than 90 AWS certifications. The company boasts AWS Competency Partner status in DevOps, Healthcare, and Life Sciences.
The line of credit from SVB will allow the company to meet the demand from businesses looking to fully optimize their AWS environments, Mission officials said.
Mission's Line of Credit: Executive Perspectives
Steven Reel, managing director, Silicon Valley Bank, said of the deal:
“The expertise that Mission brings to delivering AWS managed services – and guiding enterprises through end-to-end cloud transformations – ensures game-changing operational advantages for its customers. We’re glad to extend our support to Mission through this line of credit, and know the company will put it to deft use expanding on its already formidable cloud management and optimization capabilities.”
Mission CFO Stewart Armstrong added:
“I’m particularly excited about our ability to partner with SVB to support our customers’ growth and continued success. The line of credit will open up new and exciting opportunities for our customers to take advantage of Mission programs (like the Reserved Instances Optimization Program) that help drive discounted pricing for their AWS usage. We want our customers to continue to excel, and our role should be to provide the tools that help facilitate this.”
Financing, private equity investments and other types of financial moves continue across the MSP and CSP markets.
