Cloud Software MSP Raises $10M In Funding

Terazo, a combination software developer and managed IT services provider (MSP), has raised $10+ million in funding. The round was led by Tercera with participation from Twilio.

Mark Wensell, CEO, Terazo

Terazo will leverage the funding to fuel strategic acquisitions and partnerships nationally. The company’s existing services include custom development, automation and cloud integration capabilities — backed by managed services.

Terazo, founded in 2016, was named the fourth fastest-growing company in Richmond, Virginia, in October 2020. The company had about 60 employees at that time. Actual revenue and profit figures were not disclosed.

Terazo ranks as a Twilio Gold Consulting Partner. To achieve Gold-level status, partners need to generate and/or influence at least $1 million in Twilio-related annual revenues, according to the Twilio Partner Program documentation.

Twilio’s software allows developers and customers to build multi-channel communications, marketing and call center applications.

Teranzo Funding: Executive Perspectives

In a prepared statement about the funding, Terazo CEO Mark Wensell said:

“One of Terazo’s core values is to ‘Seek Meaningful Work,’ and this strategic investment will allow us to expand our team and hire the additional sales and engineering talent needed to deepen relationships with customers. We have built a reputation for helping organizations build, automate and integrate technology-based solutions that create lasting competitive advantage and economies of scale. We look forward to using this investment to support the growing number of companies who have accelerated their digital transformation timelines and are seeking a long-term partner on this journey.”

Glenn Weinstein, chief customer officer, Twilio

Dan Lascell, partner, Tercera

Added Dan Lascell, a partner at Tercera:

“Terazo is the epitome of a third wave cloud consultancy — from the specialized skills the team brings, to its unique culture. Terazo’s ability to help traditional businesses and startups alike develop, integrate and automate their internal and customer-facing digital experiences unlocks an incredible amount of business value. We’re excited to partner with the Terazo team to bring those capabilities to an even wider market.”

Concluded Glenn Weinstein, chief customer officer at Twilio:

“Terazo’s alignment with our cloud-centric, API-first development approach, and the great work they’ve done for our customers makes them an important partner within our growing partner ecosystem. Twilio’s customer engagement platform enables the world’s builders, and Terazo really embodies the builder mindset.”

Tercera Investments Target Cloud Professional Services Market

Meanwhile, this is Tercera’s second strategic investment. The other deal involves BeyondID, a systems integrator and MSP focused on cybersecurity, identity and cloud services. Tercera’s mission is to “empower the people and businesses that make technology work.” The investment firm focuses on opportunities in the cloud professional services market. Also of note: Ryan Denehy, CEO of Electric — a venture-backed MSP in New York — is a Tercera advisor.

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