A global cloud software distributor that recently landed in the UK says it will use a fresh $125m investment for further international expansion.
Canada-based Sherweb yesterday announced the successful closing of a minority equity investment from Investissement Québec.
The funding will “accelerate Sherweb’s international expansion strategy, fuelling both organic growth and strategic acquisitions”, according to a company announcement.
The move comes after just days after Sherweb announced its expansion into the UK, following on from its acquisition last year of Irish peer Microwarehouse.
Sherweb scans foreign shores
Sherweb aims to provide value-added services that “enable MSPs to offload technical operations, deepen their Microsoft cloud expertise and scale more efficiently”.
Boasting over 1,000 employees, it claims to support more than 7,500 partners across Canada, the US, Ireland and the UK.
“Our acquisition of MicroWarehouse marked a significant milestone with our entry into the European market, and we look forward to building on that momentum and accelerating our international growth,” stated Sherweb Co-Founder and Co-CEO Matthew Cassar.
Sherweb said the investment will help in three areas, namely scaling its cloud marketplace platform, expanding its service offerings, and pursuing targeted acquisitions that enhance its global capabilities.
It is the latest in a succession of cloud marketplaces to launch in the UK this decade, following the arrival of Pax8 and ALSO Cloud.
It plans to differentiate itself here with its personal touch, Sherweb Director Finian Nally told us last week.
“The more we spoke [to UK MSPs], the more we heard that many distributors out there send their partners towards a marketplace online and say, ‘there you go, knock yourself out’,” he said.
“Whereas our approach is to foster strong relationships through people.”
