Evolve IP Closes Equity Financing Round for $15.6 Million
by Susan J. Campbell, TMCNet Contributing Editor
Evolve IP, a managed technology provider, has announced that it has successfully closed an equity financing round totaling $15.6 million. This financing represents the largest early stage telecommunications and IT investment in the Philadelphia region in the past seven years.
The company will use the funding to continue the expansion and build-out of its service delivery platforms and managed technology solution products.
Evolve IP’s managed technology solutions are positioned as delivering a new way for businesses to buy, manage and secure technologies they use to communicate and process information, and include managed telephony, managed network services, network security and compliance, and hosted applications.
The Evolve IP management team is made up of industry veterans with more than 150 years of combined experience in telephony, data communications, Internet and security.
The company was co-founded in 2006 by Thomas Gravina and Michael Peterson, who built ATX Communications (News - Alert) into one of the largest competitive telecommunications companies in the United States.
Several other proven partners join Gravina and Peterson. These partners bring with them long track records of success that will help contribute to long-term success for the company.
Such individuals include: Tim Allen, Chief Sales Officer; Guy Fardone, Chief Operating Officer; Mark Soma, Senior Vice president of Information Technology; Peter Eisengrein, Senior Vice President of Network Operations and Design; Scott Kinka, Senior Vice President of Network Services; Joseph Pedano, Vice President of Data Engineering; and Michael D. Batdorf, Vice President of Business Development.
Some of the most successful investors and business executives in the nation are providing the financial backing. These backers include: Herb Lotman, Chairman and Founder of Keystone Foods; Ira M. Lubert, Chairman and Co-Founder of Independence Capital Partners; Peter G. Peterson, Senior Chairman and Co-Founder of The Blackstone Group; and Michael C. Forman, Managing General Partner of FB Capital Partners.
"Evolve IP has attracted the best talent in the industry, as well as top technology companies such as Cisco, Broadsoft, Acme Packet, SAP, and IBM (News - Alert) to construct a world-class service delivery architecture, and create a one-of-a-kind value proposition to the market," says Thomas Gravina, Chairman CEO and Co-Founder of Evolve IP, in a Tuesday statement.
Gravina continued: "As the industry's first true 'Managed Technology Provider,' we have defined a new space that enables organizations to increase their productivity, improve their network stability and security, and address their compliance needs while simplifying their cumbersome legacy infrastructure.”
“Evolve IP customers can focus on their business priorities, instead of worrying about the care, feeding, and unnecessary expenses of their outdated communications infrastructure," Gravina added.
Gravina hit the nail on the head when he highlighted that the company’s customers will be able to focus on the task at hand instead of worrying about outdated communications infrastructure.
In many environments, the care and expenses of such infrastructures is taking too much time and money away from the core business, draining profit potentials and slowing the organization’s drive for market share.
By turning to an Evolve IP solution, customers can instead focus on driving revenues, developing new products and services and delivering solutions that meet and even exceed customer expectations. In doing so, these companies will be better focused on the prize, leaving the worry out of the equation.
Originally appearing on TMCNet.com's IP Telephony section. Copyright © 2008 TMCNet. All rights reserved. |
