Request Information
1.877.459.4347

Request Information

or Call 1.877.459.4347

Major coverage of Evolve IP and Great Hill Partners announcement

May 13, 2016 / Evolve IP

Multiple media outlets continue to cover our recent announcement of a majority investment from Great Hill Partners. An updated coverage list is below:

Regional Press
The Philadelphia Inquirer: Cloud capital: VC pumps $100M+ into Wayne’s Evolve IP for hiring, M&A
Philadelphia Business Journal: Evolve IP sells majority stake to private equity firm

Technology
CRN: Evolve IP Scores Substantial Private Equity Investment With Eye On Channel Growth
ChannelE2E: Evolve IP’s $100 Million War Chest for MSP, CSP Acquisitions
Channele2e: Private Equity Firm Acquires Cloud Services Provider
Channelnomica: Today’s channel rundown – EXCERPT
Channel Partners : Evolve IP Gets Bit Investment to Drive Growth, Expansion

Private Equity
WSJ Pro: Great Hill Takes Majority Stake in Cloud-Based Software Company
FinSMEs: Evolve IP Receives Majority Investment from Great Hill Partners
PE HUB: Evolve IP secures majority investment from Great Hill Partners
FORTUNE: Term Sheet – EXCERPT

Full Text Articles Below

Regional Press

The Philadelphia Inquirer
Cloud capital: VC pumps $100M+ into Wayne’s Evolve IP for hiring, M&A
By Joseph DiStefano
12 May 2016 

Great Hill Partners, Boston, has bought a majority stake in Evolve IP, a ten-year-old Wayne-based cloud-computing pioneer. Founding CEO Thomas Gravina and partner Michael Peterson will remain directors, and Gravina will use Great Hill backing to “accelerate mergers and acquisition,” Gravina told me.

Buyer and seller wouldn’t name a price, but Great Hill says it’s investing and borrowing more than $100 million so Gravina can expand Evolve IP through acquisitions. Great Hill says it invests at least $25 million in each firm it backs, such as online linens retailer Wayfair.com, RxBenefits, SheKnows Media and YogaWorks.

“Nothing’s going to change” — except that “we are definitely going to grow faster,” Gravina said. “We think the next five years in the cloud gives us opportunities for significant growth. And we are going to grow this company in a material way.” Evolve IP currently employs around 200, nearly 150 of those in the Philadelphia area, at the firm’s Wayne headquarters and its year-old network operations center at 401 N. Broad St. in Philadelphia, the rest at offices in Austin, Cleveland and other cities.

“We’re going to hire and acquire at least 50 positions over the next 12 to 15 months,” in sales, marketing, engineering and support, Gravina added. “The workforce in five years will more than double.” Evolve IP has already absorbed seven smaller firms, accounting for about 15 percent of current revenues. Buying larger firms “is what I am going to focus my energies on. The operations of this company are already at a very high level.”

In a statement, Evolve IP said it also plans to use Great Hill’s backing “to expand and enhance its national distribution channels, including Value Added Resellers, Direct Market Resellers and Master Channel Partners.” The company provides virtual servers, disaster recovery, IP telephony, unified communications (Internet-phone-data) and contact centers — the cost-saving, cloud-based next-generation versions of the remote and reliability physical server-based services pioneered by SunGard Data Systems, also based in Wayne.

Evolve IP boasts 1,300 business clients using its licensed products in 15 countries.   Vendor certs include Cisco CMSP Master for IaaS, DRaaS and DaaS; SSAE 16; EMC CSP; VMware VSPP (IaaS and DaaS); Microsoft CSP, Mobility and SCA; Polycom Platinum.

“Great Hill Partners is well-aligned with our vision,” said Peterson in a statement. “With this transaction, Evolve IP will have the resources available to take the Company to a new level, enabling us to scale the enterprise significantly through both organic growth and substantial acquisition capital.”

Evolve IP is Great Hill’s first cloud investment. The cloud, which serves corporate computer networks and their smartphone users from multi-user remote server banks, cheaper than running a corporate network, “has now grown to become one of the fastest growing technology sectors,” and Evolve IP is “a clear leader,” said Christopher S. Gaffney, managing partner at Great Hill, in a statement. Besides buying control, “we have reserved and arranged more than $100 million of additional equity and debt capital for a substantial acquisition strategy, to leverage Evolve IP’s leading position in the industry.”

New York investment bank PJT Partners, Philadelphia lawyers Cozen O’Connor and the Wachtel Lipton law firm advised Evolve IP.

Philadelphia Business Journal
Evolve IP sells majority stake to private equity firm
By Dan Norton
12 May 2016 

Evolve IP has sold a majority stake of its company to the Boston private equity firm Great Hill Partners. The terms of the transaction remain undisclosed.

The Wayne-based cloud services firm has been expanding via mergers and acquisitions, and this capital infusion will provide additional funds for that end. Great Hill typically makes equity investments between $25 million to $150 million, Evolve IP chairman and CEO Tom Gravina said, but he declined to disclose the exact investment.

Evolve IP will also allocate some cash toward building its product offerings and adding jobs. The company currently has about 200 employees across offices in Wayne, Philadelphia, Cleveland, Chicago and Las Vegas.

“With this investment, we will have the opportunity to accelerate our growth, organically and via acquisitions, much more quickly than we could have as a closely held company,” Gravina said. “Our priorities will be to provide new and existing customers with a wider range of cloud-based solutions, services and functionality to enable them to meet their business goals effectively and affordably.”

Evolve IP’s services extend to 15 countries and 1,300 commercial business accounts and 100,000 users, licensed seats and managed endpoints. Gravina said the company is growing 85 percent organically, but must capitalize on the M&A opportunities available in the market now. Last December, Evolve IP acquired an Allentown-based cloud services provider for veterinarians and pharmacists called A.P.T.; at the time, Gravina said his company was looking at making four or five more deals this year.

“We’ve acquired seven companies in last eight years,” Gravina said. “We can accelerate that significantly, but to do that, we need access to significant amounts of capital.”

There is no immediate plan to sell Evolve IP in full, Gravina said, and he should remain as one of the company’s leaders for the next several years.

“The entire Evolve IP team have helped to shape the rapidly evolving cloud services industry with a proven business model, best-in-breed customer service and commitment to innovation,” Great Hill managing partner Christopher Gaffney said. “We are excited to work closely with the team as they continue to expand their capabilities and suite of cloud services through organic growth. 

As the cloud has gained traction in the marketplace, more businesses are opting to migrate from other infrastructures to cloud hosts. Heinan Landa, the CEO of Optimal Networks, an IT services company, listed several advantages of the cloud in a Business Journals guest column, including its flexibility and scalability, enterprise class protection, cost efficiency, business continuity and mobility.

Technology

CRN
Evolve IP Scores Substantial Private Equity Investment With Eye On Channel Growth
By Gina Narcisi
12 May 2016 

Private equity firm Great Hill Partners Thursday purchased a majority stake in cloud service provider Evolve IP, accelerating the channel-friendly company’s growth in the ultra-competitive cloud market.

The investment will give Wayne, Pa.-based Evolve IP the capital to increase its headcount, build on its products and services offerings, and boost its investment in the channel, Evolve IP said in a letter to partners.

Evolve IP offers virtual desktops, disaster recovery, unified communications and contact-center-as-a-service solutions to midmarket customers. The provider also has a robust channel program that includes VARs, telecom agents and master agent partners.

Evolve IP has been a closely held, private company since its inception in 2007. Bringing in a senior-level partner was important to help get to the next level, said Scott Kinka, chief technology officer and founding partner of Evolve IP.

The cloud service provider’s first priority is the channel, he said.

“To be frank, we needed more coverage. This is really about adding resources and geographically expanding to better cover our partners because we constantly hear our partners want to give us more business,” Kinka said.

Petaluma, Calif.-based master agent Intelisys, Evolve IP’s largest partner, told CRN that the investment will let Evolve IP grow out its channel more rapidly.

“They’ve been a strategic, go-to supplier of all things cloud for us for a while now. This will enable them to grow bigger and faster, which is a good thing for the channel,” said Andrew Pryfogle, senior vice president of cloud transformation for Intelisys.

While Boston-based Great Hill and Evolve IP are not disclosing terms of the deal, Philly.com is reporting that the private equity firm is pumping more than $100 million into Evolve IP so the company can grow through acquisitions. Evolve IP told partners that the investment was “substantial.”

Kinka said the funds will help Evolve “significantly” increase its investment in product development. Evolve IP bases its platforms on technology from leading IT vendors, such as Cisco Systems, VMware and Broadsoft, he said.

“We want to really expand on software and product development,” he said.

The funds also will free up the cloud service provider for more strategic mergers and acquisitions, Kinka said.

“We are a buyer,” he said. “We are considering other providers in the UCaaS side and the computing side, as well as IP software and solutions we can buy. M&A is going to be a huge push for us moving forward.”

Evolve IP’s current data center footprint includes six U.S.-based facilities. While Evolve IP doesn’t have specific plans to build out more facilities at this time, the investment from Great Hill Partners will enable acquisitions that could come along with data center facilities, Kinka said.

Evolve IP, alongside Intelisys, is also is looking to expand beyond the U.S., Pryfogle said.

“They will be able to use this pile of cash they now have to grow domestically, but also a very significant International expansion,” he said. “They’ll be coming with [Intelisys] into London, Western Europe, and beyond.”

The investment won’t change day-to-day business with Evolve IP’s existing partner base, but it could give partners access to additional resources and managers, Kinka said.

Evolve IP is no stranger to acquisitions, and has a strong track record of working through integrations really well, Pryfogle said.

“Their past M&A activity has not been destructive at all to the channel,” he said. “In fact, it’s opened up a lot more opportunities.”

Evolve IP has made seven acquisitions since 2007, including cloud service provider A.P.T. Inc. and Webcore Technologies, a managed services provider.

ChannelE2E

Evolve IP’s $100 Million War Chest for MSP, CSP Acquisitions
By Joe Panettieri
13 May 2016 

Evolve IP, backed by newly raised private equity funding, has a $100 million war chest for potential acquisitions. The cloud services provider, based near Philadelphia, is speaking with about six to eight IT service providers at the moment and mulling potential acquisitions, CEO Thomas J. Gravina confirmed to ChannelE2E.

As part of the M&A discussions, “we’re spending a lot of time and energy on culture,” Gravina adds. “Sure, we’re very interested in their products and services. But business culture — where Millennials and Gen X have authority, responsibility and autonomy — is very important to us.” 

Evolve IP, a ChannelE2E 100 company for 2016, has acquired seven businesses over the past eight years. Roughly six months ago, the company reached an inflection point. “All of our [key performance] indicators are strong,” says Gravina. “But you get to a point in the business and you ask — ‘What do we really need to accelerate this?’ We think the cloud opportunity going forward is really substantial. The only way to accelerate it was to access significant capital.”

Evolve IP: Private Equity, IPO or Something Else?

Evolve IP considered multiple routes — a potential IPO, strategic opportunities and private equity deals. Through careful research, the company aligned with Great Hill Partners, a private equity firm in Boston, Mass. Great Hill invested money in the company and acquired majority control. Financial terms were not disclosed, but the deal includes a $100 million war chest for Evolve IP to make potential acquisitions.

Evolve IP aligned with Great Hill because “we concluded they knew us the best and knew the industry the best,”says Gravina. “And we didn’t want to change our business as part of the access to capital.” In other words, it sounds like Evolve IP will maintain autonomy and its business focus, despite Great Hill’s majority ownership stake in the business.

Even before the funding arrived, Evolve IP was in growth mode. The company expanded from 74 employees in 2011 to 195 in 2015. Headcount is currently about 210 employees, but that will continue to grow in the next 12 to 18 months, Gravina said. For 2014, the company’s revenues were $47 million, according to the Inc. 5000 survey. But revenues have grown “substantially” since that time, Gravina says.

Evolve IP: Not Another Amazon or Azure Cloud

Instead of competing head-on against Amazon Web Services and Microsoft Azure, Evolve IP insists its focus is “totally different” than those cloud giants. Key focus areas involve Unified Communications as a Service, contact center services, and network and security services wrapped around cloud and disaster recovery. The company targets midmarket customers.

“Those companies are looking for technology and business partners that have expertise above and beyond their own resources,” says Gravina. “It’s an ever-changing game they can’t keep up with. Our model provides all that in amore cost effective, more efficient way. We’re freeing out customers up to focus on user experience.”

Indeed, customer experience and user experience have been major focus areas for enterprises and midmarket businesses over the past couple of years.

Looking ahead, Evolve IP plans to “expedite” its merger and acquisition strategy. “Six to eight companies are on the board and we’re having discussions with them,” says Gravina. And once again, he reiterated, the ideal targets will be cultural fits for Evolve IP.

Potential MSP, CSP Buyers

Of course, Evolve IP isn’t the only potential suitor in the market for MSPs and CSPs. Several private equity- and corporate-backed IT service providers could be making more acquisitions in the months ahead. Potential buyers could include:

Channele2e

Private Equity Firm Acquires Cloud Services Provider
By Joe Panettieri
12 May 2016 

Great Hill Partners has acquired majority control of Evolve IP, a fast-growth cloud services provider (CSP) in Wayne, Pa. Great Hill is a middle-market growth-oriented private equity firm. Evolve IP will use the capital — reportedly $100 million — to accelerate its growth plans, including potential acquisitions.

Evolve IP is no stranger to the M&A market. As of December 2015, the company had acquired at least seven IT service providers — including a managed IT service provider focused on the veterinary medicine and pharmaceuticals verticals.

Backed by Great Hill Partners’ cash, it sounds like Evolve IP will ramp up for more acquisitions. “With this investment, we will have the opportunity to accelerate our growth, organically and via acquisitions, much more quickly than we could have as a closely held company,” said Thomas J. Gravina, chairman, CEO and co-founder of Evolve IP.

Although financial terms weren’t publicly disclosed, both Evolve IP and Great Hill Partners leveraged expert advisors on the deal.

PJT Partners served as financial advisor and Cozen O’Connor and Wachtell, Lipton, Rosen & Katz served as legal advisors to Evolve IP.

Choate Hall & Stewart served as legal advisor to Great Hill Partners.

Evolve IP’s Past, Present, Future

Founded in 2007, Evolve IP’s services now support more than 1,300 commercial businesses and over 100,000 users across four continents and 15 countries, the company said. Among Evolve IP’s key differentiators: The Compliance Cloud, which supports standards and compliance mandates like ITAR and FedRAMP (for the government sector) and HIPAA (in healthcare). The company also works closely with Cisco, EMC, VMware, Microsoft and Polycom.

In addition to making more acquisitions, Evolve IP’s growth strategy includes new services, new hires, expanding into new geographies, and extending its partner program. The partner program will increasingly focus on value added resellers, direct market resellers and master channel partners, Evolve IP said.

Private Equity for MSPs, CSPs

A growing number of VARs, MSPs and CSPs now leverage private equity backing to accelerate their growth. In addition to Great Hill supporting Evolve IP, key examples include:

Clearlake Capital Group in 2015 buying Pomeroy and merging it with Tolt Solutions, an IT solutions provider focused on retailers.

Court Square Capital Partners in 2015 acquiring AHEAD — a major IT solution provider based in Chicago.

Sverica Capital Management in 2015 acquiring Synoptek, a  well-known managed services provider (MSP) that has offices in California, Colorado and Idaho. Synoptek CEO Tim Britt explained the company’s growth strategy in ChannelE2E Podcast 064.

Apollo Global Management in 2014 acquired Presidio, a massive Cisco, EMC and VMware channel partner that has morphed to offer managed hybrid cloud services. Presidio, in turn, has made multiple acquisitions.

We’ve reached out to Evolve IP for additional comment about the Great Hill deal. Stay tuned.

Channelnomica

Today’s channel rundown – EXCERPT
12 May 2016 

SAP’s IoT portfolio

SAP has expanded its software portfolio for customers and partners building out Internet of Things (IoT) networks with technology that runs on the company’s HANA platform.

The new offerings include an IoT foundation bundle for SAP HANA with capabilities for IoT data management and the IoT intelligent edge processing bundle for SAP HANA. The company also unveiled new technology alliances with Dell and Hitachi that expand its IoT ecosystem.

At SAP’s annual shareholders’ meeting, CEO Bill McDermott said he expects the company’s cloud business to break even this year, Reuters reports.

Android’s share gains

Google’s Android mobile OS increased its U.S. market share to 65.5 percent in Q1, a 7.3 percent year-over-year uptick, according to the latest figures from researcher Kantar Worldpanel. The share uptick mostly owed to increased sales from LG, Motorola and Samsung, the data showed.

Android’s market share also rose in the EU5 (Great Britain, Germany, France, Italy and Spain) and in China, climbing seven percentage points in the former to nearly 76 percent and six points in the latter to about 77 percent, Kantar said.

Kantar’s data reflects the difficulties Apple faces worldwide in fighting lower-cost, Android-based mobile device makers for market share. For example, in the EU5, iOS’s share dropped about 1.3 percentage points during the period to about 20 percent. Most of Android’s gains in the region came from Windows Mobile, which dropped five percentage points to about a five percent share, Kantar said.

Salesforce’s AWS deal

CRM giant Salesforce will build its IoT Cloud on Amazon Web Services’ platform in a move certain to add to the cloud service provider’s dominance.

Salesforce’s IoT Cloud service is currently in trials by a number of undisclosed customers and is slated to debut in the second half of this year, Salesforce IoT Cloud VP Adam Bosworth told the Wall Street Journal.

Bosworth reportedly said Salesforce’s cloud is built to run on any public cloud and on servers in its own datacenters. He said Salesforce has opted for a hybrid approach in a nod to customers who may want to control data in their own facilities.

Evolve IP’s funding

Cloud services provider Evolve IP said private equity firm Great Hill Partners has acquired majority control of the company in a deal that provides growth capital and funds for strategic acquisitions.

Evolve said it will use the funding for new products, expand its geographic sales reach and make new hires. The capital will also go to building out its channels, including distributors, VARs, direct market resellers and master channel partners.

Neither Green Hills nor Evolve said how much money is involved in the transaction.

Silicon Valley’s layoffs

Technology’s Silicon Valley ground zero companies axed 3,135 tech jobs from January through April, more than double the layoffs during the same time last year, as well as the year before, the San Jose Mercury News reports, based on data from California’s WARN Act.

The law requires employers to report layoffs of more than 50 people, an indication that perhaps cuts by smaller companies added to the total for the period, the report said.

Even with the tech job losses, the Bay area gained more than 102,000 workers in the 12-month trailing period from March 2016.

SMBs’ KPIs

Business executives may be failing to leverage collected sales data to identify and track real-time, game-changing metrics that could improve sales performance and achieve business goals, according to a new study.

Some 70 percent of business executives don’t have sufficient insight into their company’s daily performance and six percent never share key performance indicators (KPIs) with their employees, based on data from Geckoboard’s new 2016 SMB Growth and Metrics Survey.

Only 14 percent of businesses monitor real-time performance metrics, the study said, with fewer than nine percent examining their data as it occurs.

Meanwhile, business management platform provider ConnectWise suggested that solution providers in particular should regularly evaluate KPIs in sales, service and finance, according to a blog post.

Channel Partners

Evolve IP Gets Big Investment to Drive Growth, Expansion
By Edward Gately
13 May 2016

Evolve IP this week announced it will receive a majority investment from Great Hill Partners, a midmarket, growth-oriented private equity firm.

Evolve IP said it will use the capital to accelerate its growth plans, including increasing its product offerings, growing its geographic footprint and adding staff. It also will use the investment to expand and enhance its national distribution channels, including VARs, direct market resellers and master channel partners.

Evolve IP works with more than 20 master agents, direct market resellers and VARs that represent about 6,500 sales partners.

The terms of the transaction were not disclosed.

Tim Allen, Evolve IP’s chief sales and marketing officer, and founding partner, tells Channel Partners the investment means numerous benefits for existing partners.

“No. 1, more incentives to sell Evolve IP. Evolve IP will be adding sales incentives on new sold revenue and increasing participation in the annual programs that our master agencies and DMRs/VARs create to educate and support their sales partners,” he said. “No. 2, more sales and sales engineering resources. Evolve IP has already begun adding additional sales and sales engineering resources in key geographies to support our partners in the sales process and in their program execution. No.3, more Evolve IP exposure in key events. Evolve IP will participate in more industry and channel-related events.”

Also, Evolve IP will accelerate the development of new and enhanced product offerings, Allen said.

“Since Evolve IP is a major provider of both UCaaS/contact center and cloud computing services, we offer our partners the opportunity to double the revenues coming from each customer,” he said. “Last year alone, our partners grew their Evolve IP customer bases by 42 percent on average simply by adding UCaaS/contact center services to cloud computing customers and cloud computing services to their UCaaS/contact center customers.”

Evolve IP’s services currently are deployed on four continents and in 15 countries, to more than 1,300 commercial business accounts with more than 100,000 users, licensed seats and managed end points. The company migrates organizations to the cloud – freeing up IT resources, eliminating capital expenditures and lowering total cost of ownership. “Evolve IP’s partners are adopting the monthly recurring revenue model of the cloud faster than ever,” Allen said. “We will be investing in human resources to facilitate the sale of cloud services to their prospects and customers; investing in programs that help them educate their sales partners in how to identify and close opportunities; and increasing our business development efforts to ensure that Evolve IP has increasing mindshare with those partners that see the cloud as a major part of their future growth. Additionally, we will be providing value-added marketing services to our more progressive partners in the areas of lead-generation, opportunity development, as well as Web and product content through our innovative IPartners program.

” Great Hill Partners provides private equity to finance the expansion, recapitalization or acquisition of growth companies in a wide range of sectors, including software, financial and health care technology, digital media, eCommerce and Internet infrastructure. “Just a decade ago, ‘the cloud’ was a nascent industry, but it has now grown to become one of the fastest growing technology sectors,” said Christopher Gaffney, Great Hill Partners’ co-founder and managing partner. “Organizations around the world are making the transition to the cloud at an ever increasing rate, and the support and services provided by Evolve IP make it a clear leader in the space.”

Private Equity

 WSJ Pro
Great Hill Takes Majority Stake in Cloud-Based Software Company
12 May 2016 

Cloud-services provider Evolve IP LLC, said it would receive a majority investment from Great Hill Partners.

Under the transaction, the financial terms of which weren’t disclosed in a news release, private-equity firm Great Hill will provide growth capital and additional funds for strategic acquisitions.

Evolve said it will accelerate its expansion plans, including increasing its product offerings, expanding its geographic footprint and raising its head count. The Wayne, Pa., company also will use this investment to expand and enhance its national distribution channels,

Established in 2007, Evolve provides cloud-based services such as virtual servers, disaster recovery, Internet protocol telephony, unified communications and contact centers.

PJT Partners, Cozen O’Connor and Wachtell Lipton Rosen & Katz advised Evolve on the deal. Choate Hall & Stewart advised Great Hill.

Boston-based Great Hill has raised $3.8 billion in commitments since inception to finance the expansion, recapitalization or acquisition of companies in the business and consumer services, health-care, media, communications and software industries.

FinSMEs

Evolve IP Receives Majority Investment from Great Hill Partners
12 May 2016 

Evolve IP, a Wayne, PA-based cloud services company, is to receive a majority investment from middle-market growth-oriented private equity firm Great Hill Partners.

The terms of the transaction were not disclosed 

The company will use the proceeds to accelerate its growth plans, including:

– increasing its product offerings,

– growing its geographic presence,

– expanding headcount across all areas, and

– enhancing its national distribution channels, including Value Added Resellers, Direct Market Resellers and Master Channel Partners.

Launched in 2007 by Thomas J. Gravina, Chairman and CEO, and Michael A. Peterson, Vice Chairman, Evolve IP provides solutions designed to provide organizations with a unified option for cloud services, including virtual servers, disaster recovery, IP telephony, unified communications (Internet, phone and data) and contact centers.

The company’s services are currently deployed in four continents and 15 countries, to more than 1,300 commercial business accounts with more than 100,000 users, licensed seats and managed end points.

 

PE HUB

Evolve IP secures majority investment from Great Hill Partners
By Eamon Murphy
12 May 2016 

Cloud service company Evolve IP announced a majority investment from Boston-based Great Hill Partners. Terms of the transaction were not disclosed. Founded in 2007, the company is active in 15 countries, and will use the new capital to expand its national distribution channels.

FORTUNE
Term Sheet – EXCERPT
By Dan Primack
12 May 2016 

PRIVATE EQUITY DEALS

Clearlake Capital Group has agreed to acquire Vision Solutions, an Irvine, Calif.-based provider of disaster recovery and migration software, from Thoma Bravo. No financial terms were disclosed for the deal, which is expected to close later this quarter. www.visionsolutions.com

EQT Infrastructure has agreed to acquire DCLI, a Charlotte, N.C.-based provider of chassis equipment and asset management services to the U.S. intermodal industry, from Littlejohn & Co. No financial terms were disclosed. www.dcli.com

Great Hill Partners has agreed to acquire a majority equity stake in Evolve IP, a Wayne, Penn.-based cloud services company, for an undisclosed amount.www.evolveip.net

SolAero Technologies Corp., an Albuquerque, N.M.-based provider of satellite solar power and structural solutions, has acquired San Diego-based rival Vanguard Space Technologies from Enlightenment Capital. No financial terms were disclosed. SolAero is a portfolio company of Veritas Capital. www.solaerotech.com

Thoma Bravo has offered to acquire Infoblox Inc. (NYSE: BLOX), a Santa Clara, Calif.-based provider of network control solutions, according to Bloomberg. The company has a current market cap of around $886 million.

Travel Nurse Across America, a North Little Rock, Ark.-based healthcare staffing firm focused on providing travel nurses to hospitals and healthcare facilities, has raised an undisclosed amount of private equity funding from Gridiron Capital. www.nurse.tv

Zephyr, a Newark, Calif.-based provider of on-demand enterprise test management solutions, has raised $31 million in growth equity funding frm Frontier Capital. www.getzephyr.com

Recommended For You
The Evolve IP Compliance CloudTM

Compliance is a way to do business … not an afterthought when clients need it.

At Evolve IP we have a dedicated compliance and security practice and work with two of the world’s top 3rd-party compliance auditors, Grant Thornton and Ernst & Young, to enable customers to extend their compliance to our fully audited cloud. This focus allows us to deliver the documentation and assurances that other’s simply cannot including HIPAA / HITRUST, PCI-DSS (all 12 sections), SOC 2/3 and more. The Compliance CloudTM includes true client isolation, encryption in transit and at rest, private VLANs, firewalls and dozens of other security measures.

 
 
What Our Clients Say
  • “High-level technology, better compliance, cybersecurity, and communication capabilities are expected of all providers of financial services, regardless of size. With the rate of change and costs involved, it is difficult for any size credit union to keep pace. So when we were looking for a cloud technology partner, we emphasized the need to provide to our members with technology solutions that help them compete with larger banks and financial institutions, at a cost they can afford. Evolve IP offers all that, plus broad financial services industry experience and a pedigree of providing first-rate service to support growth and continually enhance the entire member experience.”

    David Frankil, Chairman of the NJCUL Services Corporation and President/CEO of the New Jersey Credit Union League

  • "The people that Evolve IP are more personable; you don't feel like there's necessarily a script when you're talking with them, they’re easy to understand, quick to get a hold of, and they follow through on what they say they're going to do."

    Watch Testimonial

  • "Evolve IP has been a vendor partner that has grown with us, that has helped us, and that you know stands by us and stands by their word."

    Watch Testimonial

  • "I was a bit of skeptical because I've been told that by sales guys before...but you've all came through on every one of their promises and not only that, but even throughout our subsequent years of working with us as partners, you’ve stepped up to the plate whenever we needed something and provided a helping hand"

    Watch Testimonial

  • "…we were assigned a project manager for our implementation they weren't just force-feeding one process down. they listened, they work with us, they adjusted schedules and they held our hand every step of the way…"

    Watch Testimonial

What the Experts Think

Our analyst-acclaimed solutions are built on a world-class, compliant architecture that leverages the blue-chip technologies organizations already know and trust.

Gartner

We deploy best-of-breed solutions including: Disaster Recovery, Contact Center, Unified Communications, DaaS, IaaS. Our services are analyst-acclaimed, vendor-validated, client recommended and award-winning.

HITRUST

Evolve IP is proud to have achieved the honor of being HITRUST CSF certified! Certification to the HITRUST Common Security Framework (CSF) affirms that all of Evolve IP’s cloud computing and cloud communications services adhere to the strictest security standards for electronic protected health information (PHI). The HITRUST security standard was developed by and for the healthcare industry as a means of going above and beyond the compliance requirements of HIPAA.

The HITRUST Common Security Framework (CSF) was developed to address the multitude of security, privacy and regulatory challenges facing healthcare organizations. The HITRUST CSF was developed by healthcare and IT professionals to provide an efficient and prescriptive framework for managing the security requirements inherent in HIPAA. HITRUST CSF rationalizes healthcare-relevant regulations and standards into a single overarching security framework. An important part of the “What is HITRUST” answer is understanding that the CSF is risk-based and compliance-based so that organizations can tailor the security control baselines and vendor management programs that they follow based on their specific organization type, size, systems, and regulatory requirements.

HIPPA

The Privacy regulations of the U.S. Health Insurance Portability and Accountability Act (HIPAA) require health care providers, organizations, and their business associates, develop and follow procedures that ensure the confidentiality and security of protected health information (PHI) when it is transferred, received, handled, or shared. This applies to all forms of PHI — paper, oral, and electronic, etc. Those who fail to adhere to HIPAA can suffer from huge fines climbing into the millions of dollars for major violations.

The Compliance Cloud™ fully enables covered entities and their business associates subject to HIPAA regulations to leverage a secure environment to process, maintain, and store protected health Information (PHI) featuring among other controls.

SSAW 16 Service Organization Control II (SOC 2)

Evolve IP has received an SSAE 16 SOC 2 Type II report on our internal controls relating to how we assess and address the potential risks associated with the security, availability, and confidentiality of not only the cloud-based services that we provide, but also our physical and logical infrastructure. Evolve IP utilizes the Certified Public Accounting firm of Grant Thornton to perform its annual audit and attestation in accordance with the Statements on Standards for Attestation Engagements No. 16 and the associated Trust Services Principles, as published by the AICPA, to evaluate the effectiveness of Evolve IP’s service organizations controls.

Forbes

While Forbes regularly features coverage and recognition about Evolve IP, they've most recently recognized Evolve IP as being the "Best Cloud Computing Companies And CEOs To Work For In 2017".  They've ranked Evolve IP in the Top 3 just behind Google and Microsoft in the Cloud Infrastructure classification.  (Feb 2017). Forbes  also recently recognizes Evolve IP for bringing Singer Equipment Corporation, a mainstream business based in PA, into the cloud by means of unified communication. (Sept  2017). Last year, Forbes recognized Evolve IP's survey of 1,080 executives citing that the number one reason to go to the cloud is the same reason that it is avoided. (Mar 2016).

Unified Communications Product of the Year

TMC and Internet Telephony Magazine have named Evolve IP’s unified communications platform as a 2017 Unified Communications Product of the Year Award winner. This marks the 6th time Evolve IP has been honored with this prestigious award and follows a series of product innovations that have allowed the company to rapidly expand its international coverage.

Evolve IP’s business collaboration tools and IP phone system dramatically improve employee productivity in the office and on the road with a Unified Communications as a Service (UCaaS) platform that fully integrates voice, video, instant messaging & presence (IM&P), desktop sharing, audio/web conferencing and more. The company also provides a sophisticated Web-based management portal, OSSmosis®, that allows administrators to easily configure system functions and quickly modify users without the need to reach out to a third party for changes.

Inc.

Inc. magazine has recognized Evolve IP in the 34th annual Inc. 500|5000, an exclusive listing of the nation's fastest-growing private companies. The list will be unveiled in the September issue of Inc.

The story of this year's Inc. 5000 is the story of great leadership. In an incredibly competitive business landscape, it takes something extraordinary to take your company to the top," says Inc. President and Editor-In-Chief Eric Schurenberg. "You have to remember that the average company on the Inc. 5000 grew nearly six-fold since 2012. Business owners don't achieve that kind of success by accident.

Payment Card Industry Data Security Standard (PCI DSS)

Evolve IP has achieved Payment Card Industry (PCI) Data Security Standard (DSS) compliance covering all 12 sections of the PCI DSS. The PCI data security standard is a comprehensive set of standards that require merchants and service providers that store, process, or transmit customer payment card data to adhere to strict information security controls and processes. It was created by the founding brands of the PCI Security Standards Council, which includes American Express, Discover Financial, JCB International, MasterCard Worldwide, and Visa Inc.

CSA STAR

Evolve IP is also a registered and participating member of the CSA Security, Trust & Assurance Registry (STAR). The CSA was formed to encourage transparency of security practices within cloud providers. It is a free, publicly accessible registry that documents the security controls provided by various cloud computing offerings, thereby helping users assess the security of cloud providers they currently use or are considering contracting with. CSA STAR is open to all cloud providers, and allows them to submit assessment reports that document compliance to CSA published best practices. The searchable registry will allow potential cloud customers to review the security practices of providers, accelerating their due diligence and leading to higher quality procurement experiences. CSA STAR represents a major leap forward in industry transparency, encouraging providers to make security capabilities a market differentiator.

Deloitte’s Technology Fast 500TM

Evolve IP has been ranked for the second consecutive year on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America – both public and private. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2012 to 2015. The list is a veritable Who’s Who of technology that has included tech companies like Google, VMware and Facebook.

Technology Fast 500 provides a ranking of the fastest growing technology, life sciences, and energy the companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth during the period from 2012 – 2016.

Red Herring

Red Herring has named Evolve IP as one of the Top 100 Companies in North America.  Red Herring’s Top 100 recognizes the leading and most promising private companies from around the world. Among the over 20 criteria used to analyze companies for the award, Evolve IP was noted for its financial performance, technological innovation, customer footprint, the DNA of its founders and addressable market.

Red Herring selects the award winners for North America from approximately 1,200 privately financed companies each year in the US and Canada. Since 1996, Red Herring has kept tabs on these organizations and its editors were among the first to recognize that companies such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, Palo Alto Networks and eBay would change the way we live and work.

Entrepreneur

Evolve IP has been recognized as one of the “Best Entrepreneurial Companies in America” in Entrepreneur magazine’s Entrepreneur360™ Performance Index, a study involving a comprehensive analysis of private companies in America. Based on this study forged by Entrepreneur, Evolve IP is recognized as a company that exemplifies growth, not just in top and bottom line, but in sustainability and the ability to achieve lasting success.

According to Entrepreneur, after evaluating approximately 10,000 U.S. based firms, the team of editors and researchers behind the E360 Performance Index collected more than 250 pieces of data from the finalists, focusing on growth drivers and challenges, goal setting, resource allocations, and reward systems. The analysis uncovered a class of leading companies, including Evolve IP, whose continued success is largely based on superior value creation for their customers, building an adaptive learning culture, and aggressive geographic expansion—placing them amongst the most dynamic firms in America today.

Latest Press Releases

Partner Day for thevoicefactory, now Evolve IP
June 18, 2019 / Evolve IP
UCToday's Rob Scott, highlights his experience at the annual partner event for thevoicefactory last week. Our very own Guy Fardone took the stage to discuss the exciting opportunities available in…
Unified Communications Transformation and Evolve IP
May 29, 2019 / Evolve IP
UCToday recognizes Evolve IP’s unique collaboration approach to unified communication. Our very own Scott Kinka offers a look into what we're currently up to at Evolve IP, M&A growth direction,…
Organizations Shift to Welcome Millennials and an Evolving Work Force
May 23, 2019 / Evolve IP
In a recent article, the Associated Press highlights Evolve IP and Guy Fardone, who recognizes millennials' need for continuous growth, opportunity advancement, and most importantly, a comfortable and balanced work…
Evolve IP Nears Completion of Cisco BroadCloud Calling Certification; Delivery of Cisco Webex™ Calling and Meetings solutions and Cisco Open SIP MPP Phones Planned for Q2 of 2019
April 8, 2019 / Evolve IP
Accreditation Provides Company with Deeper Access into Cisco’s Ecosystem of Cloud and Hosted Clients WAYNE, Pa. — April 8, 2019 — Evolve IP®, The Cloud Strategy Company™, today announced that…
View More
close

Contact Us

or Call 1.877.459.4347