Upstack Conquers Cloud Infrastructure
Upstack Conquers Cloud Infrastructure Founded in 2017 by Christopher Trapp, Upstack is a private equity-backed IT advisory firm providing support to businesses seeking cloud and infrastructure seeking solutions.
It is a fast-growing company that provides services such as colocation and data center, network connectivity, SD-WAN, unified communications, cloud contact center, private and public cloud, security, mobile, business continuity, IoT, and more. Upstack raised $1.8 million in seed funding from Montage Ventures and Burch Creative Capital. Furthermore, in 2019, they raised another $35 million in funding.
But the next round of funding they received is likely the one that will greatly expand their company. On April 14, 2021, Upstack announced that they received a $50 million investment from private equity firm Berkshire Partners. With this investment, they plan to evolve their platform and make ten acquisitions to grow their company. As of writing, they have completed seven of those ten transactions.
Shortly after the Berkshire Partners investment, they made their first transaction, acquiring Colorado-based telecommunications consulting firm Cloudnexion. Upstack was attracted by Cloudnexion’s dominance as it became one of the top technology consulting firms. Cloudnexion was already looking to take their company to the next level by exploring potential merger options but eventually saw into the vision of Upstack.
In late May, they made their second transaction, acquiring M2 Enterprise Group, another telecommunications consulting firm. At the time of the acquisition, M2 Enterprise Group was only 3 years old. But, M2 had over 350 customers and was growing at 100 to 125 percent a year. M2 will benefit from Upstack’s platform including its tech research, quoting tool, and expert advisors.
In June, Upstack made two acquisitions. They acquired Cloudwirx Inc., a global technology infrastructure solutions firm. Upstack acquired them because of their strong enterprise client base which includes Digital 100 companies. Cloudwirx decided to team up with Upstack because they needed more support in terms of people and products that their customers needed. Upstack filled in those gaps.
Later in June, Upstack acquired PacTech Partners, a network and communications consulting firm whose clients are large enterprises. Upstack decided to acquire them since their owner, Chris Wright was able to build PacTech into a successful company in six years. Additionally, their owner made the switch from finance to tech, which was even more impressive. Wright decided to team up with Upstack because he believed that Trapp had the expertise and technology that could take them to the next level.
In July, Upstack made two acquisitions. The first acquisition was DataCenterAndColocation.com. They specialize in data center and colocation solutions for mid-market enterprises. Upstack decided to acquire them due to their president and CEO, John Giaquinta’s expertise as well as their reputation in the data center industry. Giaquinta chose to team up with Upstack based on the history of Upstack’s leaders as well as expand their services and expertise to DataCenterAndColocation.com customers.
Upstack also acquired LanYap Networks, a telecom and cloud consulting firm. Upstack chose to partner with LanYap because of their performance as well as the two co-founders’ integrity. LanYap chose to partner with Upstack because of their interest and commitment to working with them as well as their additional resources.
Earlier in August, Upstack announced the acquisition of CloudAdvise, a technology infrastructure advisory firm. Upstack decided to acquire them because of CloudAdvise’s CEO’s past accomplishments. CloudAdvise chose to team up with Upstack because they were hooked on their go-to-market strategy and the idea of partnering with like-minded individuals.