Private Cloud MSP Funding: Avatara Raises $10 Million
Avatara, a private cloud services provider and MSP focused on outsourced IT, private cloud-based infrastructure and application solutions, has received a $10 million growth investment from an investor group led by Bank Street Capital Partners and Post Road Group.
The investment will fuel R&D (research and development), sales and marketing for Avatara CompleteCloud. The platform’s services span:
- private cloud capabilities;
- managed security services;
- managed IT services; and
- VoIP (voice over IP) services.
In some ways, Avatara is a master MSP of sorts — providing a mix of managed and cloud services to peer MSPs and cloud channel partners.
Avatara: Executive Perspectives on the Investment
In a prepared statement about the funding, Avatara CEO Rob McCormick said:
“After years of building Avatara organically with internally generated capital, this investment positions us to drive explosive growth as we take advantage of the transformational adoption of private cloud and outsourced IT solutions by small to midsize businesses nationwide. We are excited to partner with Bank Street and Post Road and are looking forward to significant growth of our business.”
Ben Scully, president of Avatara, added:
“We experienced record growth in 2018 as our channel partners have recognized that Avatara’s CompleteCloud is an ideal solution for their customers that are looking for a security-first private cloud infrastructure. CompleteCloud’s all-inclusive model has taken off in security conscious industries such as healthcare, defense contracting/manufacturing, engineering, and financial services. This investment will enable us to accelerate our focus on the channel partner community and better serve our customers across the country.”
Avatara’s private cloud currently supports about 15,000 users across the United States. ChannelE2E may update this article with additional details in the days ahead.