UPSTACK Acquires Enterprise Technology Advisory Firm The Monaco Group
"The Monaco Group has.... [become] one of the country's largest and fastest-growing technology advisory firms. We're thrilled to welcome Joe and the TMG team to the UPSTACK family."
NEW YORK (PRWEB) March 07, 2023
UPSTACK, the fastest-growing advisory platform for digital infrastructure, announced today that it acquired The Monaco Group (TMG), an independent enterprise technology advisory firm based in Boca Raton, Florida. The terms of the transaction were not disclosed.
As part of UPSTACK's investment, TMG's Founder and CEO Joe Monaco will join UPSTACK as Partner and Managing Director.
Founded in 2009, TMG helps large enterprises grow by finding, negotiating and maintaining their technology stacks, including network, cloud, communications and security solutions. As architects of technology, TMG builds and supports IT environments that meet enterprise customers' needs and budgets through strategic relationships with more than 70 technology providers.
"As a longtime telecom sales leader, Joe Monaco saw a gap in the market for providing large enterprises with unbiased advocacy and consistent support with technology sourcing and management," said UPSTACK Founder and CEO Christopher Trapp. "The Monaco Group has filled that gap, becoming one of the country's largest and fastest-growing technology advisory firms. We're thrilled to welcome Joe and the TMG team to the UPSTACK family."
Monaco built a career leading telecom sales teams, beginning as a Major Account Manager for MCI Worldcom and following with leadership roles at DeltaCom, Level 3 Communications and EarthLink. However, he noticed that customers could fall into a "black hole" of customer support following shifts in account management or corporate staffing cutbacks. In response, Monaco formed TMG to consistently engage enterprises across changing personnel and providers.
TMG's advisory-focused approach was a success in serving the specialized needs of enterprises with 1,000 to 10,000 employees. The company is a top performer and has earned many accolades, such as the fastest-growing partner for technology services distributor Intelisys from 2017 through 2020. It also became the Top New Partner for AVANT Communications in 2020. In 2022, TMG was named an Intelisys Platinum Partner, reaching $1 million in monthly recurring revenue (MRR). This year, the firm will become an Intelisys Platinum Plus Partner, surpassing $1.5 million in MRR.
With its track record of success, Monaco wasn't actively looking to sell TMG. However, with the best interests of his enterprise customers in mind, he knew it made sense to add more resources to keep pace with the company's growth. He considered adding more people to his three-person team but ultimately decided to join UPSTACK.
"The decision came down to the customer experience. By joining UPSTACK's established team of people and processes, we could continue to grow TMG while maintaining our high level of customer support,” Monaco said.
"UPSTACK is well positioned in the market to deliver on customer experience. They have proven leadership and expertise from more than 25 partner acquisitions, which drives project management, implementation, account management and support. That means the TMG team can focus more on advising our enterprise customers on strategic technology investments."
For more information about UPSTACK's agency investment program, contact partners@upstack.com.
About The Monaco Group
As architects of technology, The Monaco Group (TMG) builds optimal IT programs that help catapult your business, removing the burden and pressure of finding, negotiating, and maintaining your technology stack, including data storage, transport, and security. Using our trusted partners, we build and maintain an optimal IT program that meets your needs and budget. As a vendor-neutral technology supplier, TMG works as an extension of your team to create more efficiencies in your day-to-day productivity.
We design a complete business communications and collaboration solution that is flexible and scalable. And we foster a long-term partnership based on trust and dependability. For more information, visit https://monacogroup.net/.
About UPSTACK
Launched in 2017 in New York, N.Y., UPSTACK is transforming the way digital infrastructure is sourced and sold. Through a powerful combination of the industry's leading advisory partners, advanced technology and dedicated customer experience resources, UPSTACK uses actionable business intelligence to architect and source customized technology solutions for businesses of all sizes. With UPSTACK, businesses of all sizes streamline IT architecture, procurement and ongoing management by tapping into a single source for mission-critical technology advisory services. UPSTACK's expertise includes colocation and data center, network connectivity, SD-WAN, unified communications, cloud contact center, private and public cloud, security, mobile, business continuity and IoT. For more information, visit us at upstack.com.