ConnectWise Capital Celebrates One Year of Successful Investments
Company growth and new investments to continue throughout 2011
TAMPA, Fla., Jan. 27, 2011 /PRNewswire/ -- ConnectWise Capital, formed to incubate emerging IT channel technologies, support new IT channel vendors and emerging industry leaders that provide innovative solutions to the IT Nation, today celebrated its first year of investments and the success of its 2010 funded companies.
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ConnectWise Capital targets emerging products and services that create market advantages and new opportunities for the IT channel, particularly among the 49,000-plus users of ConnectWise software, the leading business management solution designed exclusively for IT service providers, VARs and MSPs. Through an initial $20 million investment fund, ConnectWise Capital has backed emerging technology ventures such as "Hardware as a Service" (HaaS) and Remote Monitoring Management (RMM) solutions.
ConnectWise plans to invest further in early 2011, an effort that is headed by Gerwai Todd, ConnectWise director of strategy. Todd has been tasked with executing on the ConnectWise Capital strategy after leading ConnectWise sales efforts to record levels over the previous 2-plus years. Investment candidates are channel-focused companies that offer IT solution providers opportunities to deploy and manage resources their clients most rely on in a Modern Office™ such as VoIP, email management, network storage and security, cloud computing, and telecommuting/mobile workforce support. Anyone with a solution or idea they would like to discuss with ConnectWise Capital should send correspondence to: [email protected]. To learn more about ConnectWise Capital, go to www.ConnectWiseCapital.com
One of the companies funded through this venture, LabTech Software, provider of powerful, scalable, and affordable RMM and Automation software, enjoyed a record year of growth increasing revenues month over month for nine consecutive periods and developing partnerships with more than 1,100 IT solution providers. LabTech won numerous awards this year including being named to the MSPmentor 250 report and sales have grown over 2500 percent.
"The financial benefit that LabTech has received from ConnectWise Capital has helped to fuel our record-setting growth and positioned our company at the forefront of the RMM and automation industries," said Matt Nachtrab, CEO of LabTech. "But even more than that, we have been able to leverage ConnectWise's reach in the IT community to expand our presence amongst the IT Nation."
Another company funded through this venture, CharTec, a complete HaaS provider was selected as one of the Best Channel Vendors by subscribers of Business Solutions magazine. Its president and CEO Alex Rogers was included in the third annual MSPmentor 250 report and CharTec won the award for Best Product Hardware at CompTIA Breakaway 2010. Sales have grown over 2300 percent for 2010.
"When working with IT solution providers, we have found it extremely valuable that we belong to the same community and share the same benefits of the ConnectWise business operating system," said Alex Rogers, CEO of CharTec. "The synergies we achieve in selling through the same IT channel has created additional opportunities to increase market penetration of our Hardware as a Service offerings."
"Our portfolio companies impressed us with their ability to take the funds we provided them and exponentially grow their businesses by offering members of our solution provider community the products and services that they themselves need to prosper," said David Bellini, ConnectWise co-founder and chief operating officer, who heads ConnectWise Capital. "The ecosystem we have developed through our investment arm is a symbiotic one that allows not only individual members to benefit from our commitment to their success but ensures that the entire community grows through increased market opportunities. Our first year can be considered nothing but a success and we are invigorated to expand our portfolio well into the future."
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About ConnectWise
Designed exclusively for the IT Channel, ConnectWise is the leading business management solution for service providers, MSPs, technology consultants, integrators, and developers. Today more than 49,000 IT professionals rely on ConnectWise to achieve greater accountability, operational efficiency and profitability. According to the 2010 MSPmentor 100 list, more than half of the top 100 IT-based managed serviced providers worldwide use ConnectWise. ConnectWise fully integrates CRM, sales, help desk ticket and tracking, project tracking, IT service management, SLAs, dispatch scheduling, mobile IT services, time and expenses into a singular IT management software to dramatically streamline IT companies. Over the last 28 years, ConnectWise has become the premier business operating system for IT solution providers. ConnectWise APIs are accessed by over 300 organizations, including ConnectWise partners and industry leaders of the IT Nation. For more information visit www.ConnectWise.com or call 800-671-6898.
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SOURCE ConnectWise Capital
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