AWS, Azure Cloud Partner Reliam Gains $75 Million War Chest for Acquisitions
Reliam LLC, a managed services provider (MSP) with Amazon Web Services (AWS) and Microsoft Azure cloud expertise, has hired a new CEO and found a way to quickly fill its coffers for potential acquisitions and growth opportunities.
Indeed, Great Hill Partners has invested $17 million in Reliam made a commitment of up to $75 million for further investment in Reliam. The news surfaced at Amazon’s AWS re:Invent 2017 conference this week in Las Vegas.
Great Hill specializes in investment in high-growth, mid-market technology companies. The investment firm, by the way, also holds majority control of Evolve IP — a cloud service provider that has acquired multiple MSPs and solutions providers.
What’s different about Reliam? The company provides architecture and managed services for cloud implementations and migrations — with the goal of helping enterprises optimize their operations.
“Reliam’s expert managed services are the perfect fit for enterprises and mid-sized companies seeking to confidently migrate applications to the cloud — and have them capably managed once there,” Christopher Gaffney, managing partner, Great Hill Partners, said in a prepared statement.
As part of the expansion plan, former DreamHost CEO Simon Anderson is joining Reliam as CEO, while Great Hill’s Gaffney and Drew Loucks will join Reliam’s board of directors, bringing with them a combined 45 years of industry experience. Reliam founder Nate Johnson remains president of the company.
“I’ve carefully built Reliam to be a platform for growth over the last few years, and it is truly gratifying to secure Great Hill Partners’ expertise and investment,” said Johnson. “With this funding, we can build out even more capabilities for cloud managed services to support the explosive adoption of public cloud for all sorts of applications — including serverless computing, machine learning, artificial intelligence and IoT architectures.”
Great Hill has been making a push into the IT world in recent years. The firm has raised more than $5 billion in commitments since its inception and currently holds more than 50 portfolio companies. Great Hill invests in a wide range of industries including communications, financial technology, healthcare, information services, Internet, media, retail, consumer, and software industries.