Frontier's $10M Investment Helps ConnectSolutions to Move Forward
The private cloud service provider, ConnectSolutions, recently amassed a whopping $10 million in funding from Charlotte-based growth equity firm, Frontier Capital.
The transaction reportedly closed on December 27, 2012.
ConnectSolutions provides Unified-Communications-as-a-Service (UCaaS) solutions based on its UC3 Platform. Based in San Francisco, California and Columbus, Ohio, ConnectSolutions mainly caters to large enterprise and government clients.
According to ConnectSolutions, its secure, reliable and scalable platform is fit for the deployment of all the best-of-breed communication, conferencing and collaboration applications. The platform, according to its maker, has been designed to eliminate the complexity and risk of building and managing a UC stack internally.
The platform not only speeds up the deployment of these applications; it helps reduce overall costs, improving quality of service in the process.
Frontier Capital, which focuses on high-growth companies and has an impressive track record of delivering returns to both investors and management partners, is excited about the outcome of this recent partnership. In addition to funding, the equity firm will also provide ConnectSolutions with strategic guidance.
Frontier and its long-standing expertise in technology-enabled business services, along with its own domain expertise, seem set to deliver some cutting-edge products for UCaaS and Web conferencing markets.
“Frontier is excited to partner with a team with such deep domain expertise,” said Joel Lanik, Partner of Frontier Capital. “ConnectSolutions is well-positioned to become a leading managed services provider for many of the top products in the UCaaS and Web conferencing markets.”
“Over the past several years, we have significantly grown revenues and increased market share through meaningful relationships with technology and channel partners. With Frontier’s support and strategic guidance, we will accelerate that growth,” said Michael Fitzpatrick added.
The funding does not interfere with the company’s Leadership and will continue to be led by cofounders Michael Fitzpatrick, CEO; and Chris Tennant, CTO.
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Edited by Braden Becker