https://www.channelfutures.com/wp-content/themes/channelfutures_child/assets/images/logo/footer-new-logo.png
  • Home
  • Technologies
    • Back
    • Analytics
    • Artificial Intelligence
    • Cloud
    • Data Centers
    • Desktop
    • IoT
    • Mobility
    • Networking
    • Open Source
    • RMM/PSA
    • Security
    • Virtualization
    • Voice/Connectivity
  • Strategy
    • Back
    • Best Practices
    • Business Models
    • Channel 101
    • Channel Programs
    • Channel Research
    • Digital Transformation
    • Diversity & Inclusion
    • Leadership
    • Mergers and Acquisitions
    • Sales & Marketing
    • Specialty Practices
  • MSSP Insider
    • Back
    • Business of Security
    • Cloud and Edge
    • Endpoint
    • Network
    • People and Careers
    • Training and Policies
  • MSP 501
    • Back
    • 2021 MSP 501 Application
    • 2020 MSP 501 Rankings
    • 2020 Hot 101 Rankings
    • 2020 MSP 501 Report
  • Intelligence
    • Back
    • Our Sponsors
    • From the Industry
    • Content Resources
    • COVID-19 Partner Help
    • Galleries
    • Podcasts
    • Reports
    • Videos
    • Webinars
    • White Papers
  • EMEA
  • Awards
    • Back
    • Excellence in Digital Services
    • 2021 MSP 501
    • Top Gun 51
  • Events
    • Back
    • CP Conference & Expo
    • Channel Partners Evolution
    • Channel Evolution Europe
    • Channel Partners Event Coverage
    • Webinars
  • Channel Mentor
    • Back
    • Channel Market Intelligence
    • Channel Educational Series
Channel Futures
  • NEWSLETTER
  • Home
  • Technologies
    • Back
    • Analytics
    • Artificial Intelligence
    • Cloud
    • Data Centers
    • Desktop
    • IoT
    • Mobility
    • Networking
    • Open Source
    • RMM/PSA
    • Security
    • Virtualization
    • Voice/Connectivity
  • Strategy
    • Back
    • Best Practices
    • Business Models
    • Channel 101
    • Channel Programs
    • Channel Research
    • Digital Transformation
    • Diversity & Inclusion
    • Leadership
    • Mergers and Acquisitions
    • Sales & Marketing
    • Specialty Practices
  • MSSP Insider
    • Back
    • Business of Security
    • Cloud and Edge
    • Endpoint
    • Network
    • People and Careers
    • Training and Policies
  • MSP 501
    • Back
    • 2021 MSP 501 Application
    • 2020 MSP 501 Rankings
    • 2020 Hot 101 Rankings
    • 2020 MSP 501 Report
  • Intelligence
    • Back
    • Our Sponsors
    • From the Industry
    • Content Resources
    • COVID-19 Partner Help
    • Galleries
    • Podcasts
    • Reports
    • Videos
    • Webinars
    • White Papers
  • EMEA
  • Awards
    • Back
    • Excellence in Digital Services
    • 2021 MSP 501
    • Top Gun 51
  • Events
    • Back
    • CP Conference & Expo
    • Channel Partners Evolution
    • Channel Evolution Europe
    • Channel Partners Event Coverage
    • Webinars
  • Channel Mentor
    • Back
    • Channel Market Intelligence
    • Channel Educational Series
    • Newsletter
  • REGISTER
  • MSPs
  • VARs / SIs
  • Digital Service Providers
  • Cloud Service Providers
  • CHANNEL PARTNERS ONLINE
 Channel Futures

Mergers and Acquisitions


Shutterstock

Cash, U.S. currency

AWS Partner Gets Another Cash Infusion to Pursue ‘Mission’

  • Written by Kevin Casey
  • June 12, 2019
Here are insights from the cloud service provider’s CEO on its latest financing round.

Ordinarily, a $15 million private equity round isn’t headline news. These kinds of deals happen daily. Add that on top of $75 million invested in the same company barely two years ago, though – a cloud managed service provider with fewer than 100 employees, to boot – and you’ve got a story, one that speaks to the voracious investor appetite for cloud plays in the MSP market.

We’re talking about AWS partner Mission, which recently announced its latest funding round with Great Hill Partners. Mission sprang from a merger of three smaller MSPs – Reliam, Stratalux, and G2 Technologies – in 2018, backed by a $75 commitment from Great Hill partners in late 2017.

Mission's Simon Anderson

Mission’s Simon Anderson

If you wanted to sum up both the story and the strategy here in a single word, it’s doubtlessly this one: growth. Like the cloud space in general, it’s all about growing as fast and as sustainably as possible. Mission’s headcount has increased 70% during the last year, for example. Since the mergers of the three distinct cloud MSPs, Mission’s revenue has increased sixfold, and it doubled its enterprise customer base to 175 firms. (Fun fact for sports fans: In March, Mission announced it had become the official cloud services partner of the Boston Celtics.)

Mission has spent around $40 million of that initial $75 million. The new round will beef up the coffers for additional hiring, technology investments and go-to-market strategies, the company said. Great Hill Partners also indicated it would consider further investments in the future.

We caught up with Mission CEO Simon Anderson to get the scoop on why the firm did another funding round, what the money will be used for, and his general take on the white-hot cloud MSP space.

Channel Futures: Tell us a little more about the new funding round. Why now? What will the capital be used for?

Simon Anderson: The new capital is to support the expansion of our sales team into the U.S. Central region, plus investments into more CloudOps and DevOps engineers to serve our rapidly growing customer base with broader skill sets.

CF: Can you share some examples of how the previous capital investments from Great Hill Partners have been put to work?

SA: Mission has invested in a unique go-to-market strategy that is closely aligned with AWS sales. We’ve also used the existing capital from GHP to build out our team, systems and platform to support rapid growth over the next two years.

CF: Share a stat that highlights Mission’s growth.

SA: We grew our team over the past year from 50 to 85.

CF: You mentioned the possibility of additional investments from Great Hill and/or partners, including for potential acquisitions. Can you tell us what you’re looking for in terms of potential acquisitions or deals?

SA: Mission will look to our customers’ needs to determine potential acquisitions, which will be focused on technical teams and having the right capabilities in high-demand focus areas including containers, serverless, and AI and machine learning.

CF: Do you expect venture capital and private equity interest in the cloud MSP space to continue to grow?

SA: Yes, definitely. It continues to be a hot space ripe for VC/PE firm interest.

Cloud is not the only …

  • Page 1
  • Page 2
Tags: MSPs VARs/SIs Business Models Channel Research Cloud Data Centers Mergers and Acquisitions Security Strategy

Related


  • CP-Expo-Logo-1050x618 web
    Channel Partners Virtual Wraps — See You In Person at CP Expo Homecoming
    So long, Channel Partners Virtual. But what a week it was. Now, our live event is on tap.
  • Growth
    Auth0 Acquisition to Power Okta's Growth in Massive Identity Market
    Together, Okta and Auth0 address a broad set of identity use cases.
  • Digital handshake
    Clearlake, TA Associates Buy Precisely in $3.5 Billion Deal
    Precisely's partners are crucial to the company and its growth.
  • Trophy
    Veeam Partner Awards Honor Arrow, SHI, CDWG, More
    These partners exceeded Veeam's expectations in 2020.

Leave a comment Cancel reply

-or-

Log in with your Channel Futures account

Alternatively, post a comment by completing the form below:

Your email address will not be published. Required fields are marked *

Related Content

  • Channel Futures & Channel Partners Announce Key Initiatives for 2021
  • KnowBe4 to Buy MediaPro, Beef Up Privacy, Compliance Training
  • How Are Your Clients Handling Social Engineering? Chances Are, Not Well
  • Pluribus Networks Launches Expanded, Simplified Partner Program

Galleries

View all

International Women’s Day & Tech: Move Beyond the Conversation

March 8, 2021

Industry Perspectives

View all

What is FirstNet–and What Are the Benefits for Channel Partners?

March 8, 2021

5 Ways XDR Can Improve Operational Efficiency for MSPs

March 4, 2021

Multi-Cloud: Strategy or Inevitable Outcome? (or both?)

March 3, 2021

Webinars

View all

A Partner’s Perspective on Channel Success in 2021

March 23, 2021

XDR and Why it Matters to MSPs

March 24, 2021

Top Security Trends Impacting Technology Security Providers In 2021

March 25, 2021
  • 1

White Papers

View all

Why Fortinet for my MSSP?

March 2, 2021

Small and Mid-Size Business Security: 4 Steps to Success

March 2, 2021

How SMBs Can Secure Endpoints and Remote Workers for the Long Haul

March 2, 2021

Upcoming Events

View all

Channel Partners Conference & Expo

November 1, 2021 - November 4, 2021

Videos and Fastchats

View all

FASTCHAT: How SOAR Eliminates Security Challenges and Elevates Service Provider Revenues

January 6, 2021

Happy Holidays from Channel Partners & Channel Futures!

December 21, 2020

FASTCHAT: How Old, Unpatched Technologies Are Creating New Security Threats for MSPs and Their Customers

December 3, 2020

Twitter

ChannelFutures

We celebrate #InternationalWomensDay by highlighting the important conversations and key statistics. @channelsmart… twitter.com/i/web/status/1…

March 9, 2021
ChannelFutures

A UK-based MSP got a lesson in grace when a post intended as a joke was mistaken for online bullying.… twitter.com/i/web/status/1…

March 9, 2021
ChannelFutures

Learn more about #FirstNet and partnering with @GetWirelessLLC. #LTE #firstresponders #connectivity #IoT… twitter.com/i/web/status/1…

March 8, 2021
ChannelFutures

Have you heard? @McAfee is selling its enterprise security business. And 75-year-old founder #JohnMcAfee faces deca… twitter.com/i/web/status/1…

March 8, 2021
ChannelFutures

Today we celebrate the achievements of women worldwide, and we are proud to give the rockstar women in the channel… twitter.com/i/web/status/1…

March 8, 2021
ChannelFutures

The list of #Accellion FTA breach victims keeps growing. Another bank joined the list over the weekend.… twitter.com/i/web/status/1…

March 8, 2021
ChannelFutures

Happy #InternationalWomensDay! The Channel Futures / @Channel_Online team is proud to support @AllianceofCW and… twitter.com/i/web/status/1…

March 8, 2021
ChannelFutures

#MSPs can help businesses deal with #cloudcomputing and #cybersecurity pain points, says @Dreamix_Ltd.… twitter.com/i/web/status/1…

March 8, 2021

MSSP Insider

Newsletters and Updates

Sign up for The Channel Report, Channel Futures Update, MSP 501 Newsletter and more.

Live Channel Events

Get the latest information on the next industry-leading Channel Partners event.

Channel Partners Online

Want more? Find more channel news and analysis on our sister site, Channel Partners.

Media Kit And Advertising

Want to reach our audience? Access our media kit

DISCOVER MORE FROM INFORMA TECH

  • Channel Partners Online
  • Channel Partners Events
  • MSP 501
  • MSSP Insider
  • IoT World Today
  • Webhostingtalk

WORKING WITH US

  • Contact
  • About us
  • Advertise
  • Newsletter

FOLLOW Channel Futures ON SOCIAL

  • Privacy
  • CCPA: “Do Not Sell My Data”
  • Cookie Policy
  • Terms
Copyright © 2021 Informa PLC. Informa PLC is registered in England and Wales with company number 8860726 whose registered and Head office is 5 Howick Place, London, SW1P 1WG.
This website uses cookies, including third party ones, to allow for analysis of how people use our website in order to improve your experience and our services. By continuing to use our website, you agree to the use of such cookies. Click here for more information on our Cookie Policy and Privacy Policy.
X