SAN FRANCISCO–(BUSINESS WIRE)–February 27, 2020–
Sverica Capital Management LP (“Sverica”), a private equity investment firm, announced today that it has made an investment in Cytracom (“Cytracom” or the “Company”), a leading provider of cloud-based unified communications (“UCaaS”) software and solutions built exclusively for the Managed Service Provider (“MSP”) channel.
Based in Dallas, TX, Cytracom has over two thousand MSP partners throughout North America. As the move to the cloud continues, Cytracom’s UCaaS offering enables its partners to expand their service portfolios and provide true end-to-end managed IT services. The Company plans to invest further into features that empower its MSP partners to better sell, support, and manage UCaaS for their customers.
“Our focus has always been on enabling MSPs to deliver best-of-breed cloud-based voice and messaging solutions,” said Zane Conkle, co-founder and CEO of Cytracom. “A huge driver of our growth has been our transformation into a truly comprehensive UCaaS offering. This investment from Sverica allows us to accelerate our growth and empower more partners with a leading channel-only UCaaS solution for their portfolio.”
The senior management team, including co-founder and CEO Zane Conkle, will continue to lead the Company. Frank Young, Managing 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.”
Founded in 2008 and based in Dallas, TX, Cytracom provides unified communications software exclusively through the MSP channel. With a proprietary platform built on flexible, cloud-based technology, Cytracom delivers a UCaaS suite tailored to small and medium-sized business needs. The Company’s 100% channel-driven model provides its end users the ease and comfort of working with a local, trusted managed service provider. To learn more visit www.cytracom.com.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200227005615/en/
Sverica Capital Management LP
Source: Read Full Article