Startup Profiles - Evolve IP

March 2008, Telecom Trends

Evolve IP was founded in 2006 as a manages technology service provider by Thomas Gravina and Michael Peterson, who previously had built ATX Communications into one of the largest competitive telecom companies in the U.S., with more than 22,000 clients and revenues over $160 million.

Evolve IP recently closed an equity financin round totaling $15.6 million, which represents the largest early stage telecom and IT investment in the Philadelphia region in the past seven years. The funding is being used to continue the expansion and buildout of the company's service delivery platforms and Managed Technology Solution products.

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