Great Hill Partners, a Boston-based investment firm, made a major investment in Evolve IP last week. The Wayne, Pa.-based cloud services company was founded in 2006.
The 200-employee organization will use the undisclosed proceeds from the round to grow both its product offering and to staff up. The goal is to have 60-80 additions to the team over the next two years, according to company officials.
Excluding this recent investment, Evolve IP has received over $55 million in funding rounds since 2008.
“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,” CEO and cofounder Thomas Gravina said in a press release.
Evolve IP’s cloud-based services (like virtual desktops, virtual servers, etc.) are deployed in 1,300 commercial business accounts, racking up around 100,000 combined users.
This Week in Jobs: Hiring bonanza edition
This Week in Jobs: Winner winner chicken dinner
NET/WORK is coming back to the Philly ‘burbs on Oct. 10
7 biz resources we learned about at Super Meetup Philly 2019
On the Market: Cybersecurity and conscious capitalism are so hot right now
Here’s what the CEO of a 200-person company had to say about growing teams quickly
This Week in Jobs: Don’t labor too hard over this list of great gigs
Paid family leave adds to the perks at Chariot Solutions
Sign-up for daily news updates from Technical.ly Philadelphia