Google Partner Promovo Receives Strategic Growth Investment From PE Firm Cohere Capital
Kentucky-based IT services provider and Google Partner Promevo has received an investment from Cohere Capital, a Boston-based private equity firm focused on investing in tech-enabled middle-market companies. The exact amount of the investment was not disclosed, though the company said it was earmarked for strategic growth.
Promovo’s IT services, solutions, and software are focused on Google Workspace, Chrome and Cloud Platform (CGP) technologies. The company, which was founded in 2001, has bet heavily on Google’s platform, offering its clients resale, services and solutions through its proprietary management software product, gPanel.
The investment and partnership from Cohere will allow Promevo to continue to grow its service offerings and further develop software and service solutions for businesses operating on the Google technology ecosystem, the company said.
Promovo’s Growth Investment: Continuing Growth
Tom Mason and Aaron Gumz, co-founders of Promevo, commented:
“After serving customers in the Google ecosystem for nearly two decades, we are uniquely positioned to provide differentiated and innovative software enabled solutions to help clients manage the full suite of Google technology. We are excited to partner with Cohere to continue to grow our relationship with Google and our capability set to better serve our customers.”
Nik Shah, Cohere Capital managing partner and co-founder, added:
“We are thrilled to be working with Tom, Aaron, and the rest of the Promevo team to help drive their growth with Google and the customers they serve.”
Promevo was represented in this transaction by martinwolf, a leading M&A advisory firm serving the IT industry.