NEW YORK, Aug. 10, 2021 /PRNewswire-PRWeb/ -- UPSTACK, a profitable, fast-growing platform that transforms the architecture and sourcing experience for businesses seeking cloud and internet infrastructure solutions, announced today that it has acquired CloudAdvise, a technology infrastructure advisory firm serving midmarket and enterprise organizations spanning the globe. Terms of the transaction were not disclosed.
UPSTACK's acquisition of New York-based CloudAdvise is part of the company's strategy to accelerate the growth of its industry-transforming platform, which combines the industry's leading internet infrastructure advisors with proprietary software and support resources.
The growth strategy is supported by a $50 million equity investment from Berkshire Partners, announced in April, which will enable the company to continue to scale its platform through technology expansion and partner acquisitions.
As part of the investment, CloudAdvise Founder and CEO Greg Moss will join UPSTACK as a Partner and Managing Director and a true equity stakeholder. Moss will serve as an advisor to business customers that are sourcing data center, colocation, cloud, network connectivity and other technology solutions through the UPSTACK platform.
"We're thrilled to welcome CloudAdvise to the UPSTACK family," said Christopher Trapp, CEO of UPSTACK. "Greg brings a rare combination of entrepreneurial ingenuity, grit and enterprise-level business acumen to the table. I have no doubt that these skills will be integral to helping UPSTACK's customers achieve their ambitious digital transformation objectives."
Moss, a serial entrepreneur and startup incubator, has more than 20 years of experience developing, designing and taking innovative products to market. He assisted with the early-stage incubation of Online Retail Partners and In-Store Broadcasting Network. In addition, he founded ventures in the retail and fintech industries, including TrustCash and eSecurePoints. Later Moss spent five years in partnership development at Internap, where he saw the opportunity to transform the indirect sales channel model for the small and medium business (SMB) market.
In 2015, Moss founded CloudAdvise to help SMBs with the procurement of their data center and cloud infrastructure services. "I noticed that most of my customers and other IT leaders in SMBs were struggling to keep their heads above water with limited staff," Moss said. "They needed to focus on mission-critical priorities and didn't have time to field calls from dozens of vendors to find, source, validate and negotiate for services in a rapidly changing landscape."
CloudAdvise, he explained, steps in to insulate clients from the constant contact from vendor sales teams and eliminate the administrative burdens of the procurement process by researching services and presenting only the solutions that best fit customers' needs. The service quickly caught on, and CloudAdvise grew rapidly through trusted customer referrals. Eventually, the company extended its research services to larger organizations, assisting non-technical procurement teams with purchasing infrastructure in more than 15 countries.
When Moss was introduced to UPSTACK, he found the company's unique go-to-market strategy compelling. "What I found most intriguing about partnering with UPSTACK was the opportunity to have an immediate impact on the success of an industry-changing enterprise," Moss said. "I like the challenge of integrating and partnering with like-minded advisors and business leaders to drive a common goal."
For more information about the UPSTACK Advisory Partnership, visit upstack.com/for-advisors or contact partners@upstack.com.
About CloudAdvise
Founded in 2015, CloudAdvise leverages decades of telecom and IT experience to identify, assess and negotiate cost-effective, reliable and scalable technology infrastructure solutions for established, growing and emerging companies across dozens of industries. They source best-in-class data center, cloud, security and connectivity services from a network of more than 130 vendors across six continents to meet customer requirements. Since 2015, they've helped some of the most successful companies in the world procure technology infrastructure to enable their business strategies and deliver returns on investment. For more information, visit http://www.cloudadvise.net.
About UPSTACK
Launched in 2017 in New York, N.Y., UPSTACK is transforming the way cloud and internet infrastructure is sourced and sold. The company uses advanced technology to enable an extensive team of cloud infrastructure advisors to offer customized solutions for businesses of all sizes. With UPSTACK, business buyers streamline IT procurement by tapping into a single source for mission-critical technology services from hundreds of proven providers along with the professional guidance to identify and evaluate the best solutions. UPSTACK's service portfolio includes colocation and data center, network connectivity, SD-WAN, unified communications, cloud contact center, private and public cloud, security, mobile, business continuity, IoT and more. For more information, visit us at http://www.upstack.com.
Media Contact
Khali Henderson, BuzzTheory (for UPSTACK), 480.999.5297, khenderson@buzztheory.com
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