CoreDial says the new funding will help it expand upon its existing UCaaS offerings and add more cloud products and services optimized for the channel.

Craig Galbraith, Editorial Director

May 14, 2015

1 Min Read
CoreDial Secures $27.5 Million With Partners in Mind

Philadelphia-based CoreDial, which offers a software-as-a-service platform via the channel, on Thursday announced an investment of $27.5 million from LLR Partners, a private equity firm.

CoreDial works with MSPs, IT solution providers and VARs to deliver cloud products and services via what it calls an innovative SaaS platform and business model.

The company has added nearly half of its 350 channel partners in just the past year. CoreDial says the new funding will help it expand upon its existing UCaaS offerings and add more cloud products and services optimized for the channel.

“There is a growing need today for SaaS platforms and cloud services designed specifically for the over 170,000 MSPs, IT solution providers, and VARs that make up the channel,” said David Reuter, Partner, LLR Partners.

“This investment is a clear vote of confidence in CoreDial’s high growth, margin-rich, channel-optimized SaaS platform and solutions from the technology investment community,” said Alan Rihm, CEO and co-founder of CoreDial.

CoreDial says its white-label services allow partners to generate profit margins of up to 65 percent.

The company’s revenue growth has enabled it to increase its Philadelphia-based workforce by more than 50 percent this year.

Follow senior online managing editor Craig Galbraith on Twitter.

Read more about:

Agents

About the Author(s)

Craig Galbraith

Craig Galbraith

Editorial Director, Channel Futures

Craig Galbraith is the editorial director for Channel Futures, joining the team in 2008. Before that, he spent more than 11 years as an anchor, reporter and managing editor in television newsrooms in North Dakota and Washington state. Craig is a proud Husky, having graduated from the University of Washington. He makes his home in the Phoenix area.

See more from Craig Galbraith
Free Newsletters for the Channel
Register for Your Free Newsletter Now
Subscribe

You May Also Like

Galleries
See all
Sep 16 - Sep 19, 2024
Join us for MSP Summit, September 16-19, 2024 in Atlanta, GA. You don't want to miss the industry’s most innovative and inspiring gathering of business leaders focused on growing their managed services businesses. This year’s MSP Summit will help attendees stay ahead of exponentially increasing security threats, expanding their range of services through a merger or acquisition and embrace a wide range of innovative new technologies. Get notified when registration opens.
Sign Up For Special Deal