DALLAS--(BUSINESS WIRE)--#msp--Cytracom, a leading provider of cloud-based voice and messaging solutions built exclusively for Managed Service Providers (MSPs), announced today a majority investment from Sverica Capital Management LP (“Sverica”), a private equity investment firm based in San Francisco and Boston.
Today, more than two thousand managed service providers (MSPs) across North America partner with Cytracom. Cytracom plans to accelerate growth and investment into its channel offerings that provide MSPs the tools to better sell, support and manage the communication needs of their clients.
“Our focus has always been on enabling MSPs to deliver best-of-breed voice and messaging solutions,” said Zane Conkle, co-founder and CEO, Cytracom. “A huge driver of our growth has been our transformation from a pure-play Hosted VoIP solution into a comprehensive UCaaS offering. This investment from Sverica allows us to accelerate our growth and empower more partners with the leading channel-only UC solution for their portfolio.”
New purpose-built integrations, features and offerings planned for MSPs in 2020 will further simplify delivery of the service to their customers. The company’s theme for the year is to “Empower the Partner.”
The senior management team including co-founder and CEO Zane Conkle will continue to lead the company. Frank Young, General Partner at Sverica, along with Michael Dougherty, Vice President at Sverica, will join Cytracom’s board of directors.
“Through its commitment to innovation and reputation for reliability, Cytracom has positioned itself to take advantage of the tremendous market opportunity and widespread adoption of cloud communication solutions,” said Frank Young. “We look forward to partnering with Cytracom’s senior leadership as they drive the Company through the next phase of growth.”
Bankstreet served as exclusive financial advisor to Cytracom in connection with this transaction.
About Sverica Capital Management
Sverica Capital Management is a leading growth-oriented private equity firm that has raised over $1.1 billion across five funds. The firm acquires, invests in and actively builds companies that are, or could become, leaders in their industries. Since inception, Sverica has followed a “business builder” approach to investing and takes an active supporting role in its portfolio companies. Sverica devotes significant internal time and resources to help its management teams develop and execute growth strategies and proactively looks for levers to pull to accelerate growth by reinvesting back into those companies. Sverica firmly believes in building businesses collaboratively that can endure for the long term by starting with a strong foundation and bringing the right people and playbook to drive reinvestment and ultimately strong returns for our investors. For more information, please visit www.sverica.com.
Cytracom makes voice and messaging simple—simple to sell and simple to use. With a reliable platform built on flexible, cloud-based technology, Cytracom delivers a UCaaS suite tailored to small business needs. A 100% channel-driven model brings its nationwide partners directly to customers, providing the ease and comfort of working with local, trusted managed service providers.
As the move to the cloud continues, Cytracom enables partners to expand their portfolios and ultimately extend their reach and revenue with end-to-end managed services. Unparalleled tools, support, and training gives partners an advantage over the competition, reinforcing Cytracom’s commitment to their success and confidence in its solution. To learn more visit cytracom.com.