West Palm Beach, FL – May, 2014 – Comvest Partners, through its Comvest Capital lending platform, (“Comvest”), has provided $16 million in debt capital to Egenera, a leader in converged infrastructure and cloud management software. The funds will be used to further product innovation and aggressively drive a go-to-market strategy.
Egenera enables organizations to deliver flexible yet highly reliable IT and cloud services. Today, Egenera offers a range of software products that provide support for physical, virtual and cloud environments with enterprise level scalability and reliability. These solutions help organizations drive down their capital and operational costs by providing intelligent automation and control across on and off-premise clouds.
“With cloud transforming businesses of all kinds, our technology puts us at a strong competitive advantage which is what made us such an interesting investment prospect,” said Pete Manca, CEO of Egenera. “The new funding will help fuel our sales and marketing efforts, enabling more companies to transform the way they manage their cloud infrastructures and virtual data centers.
“Egenera’s technology is unique within the cloud management space putting them in a position to take a significant share of the market,” said Dan Lee of Comvest Partners. “We are excited to invest in the future growth of this company, backing a proven executive team with a compelling technology offering.”
“As an early investor in the company, we have been pleased with Egenera’s ability to offer innovative products and collaborations that maintain its status as the go-to company for datacenter solutions. The Comvest investment will be very helpful in supporting the company’s working capital needs at a critical stage of Egenera’s growth as its IAAS offering gets deployed worldwide,” said Jim Phillips, partner, Pharos Capital Group, LLC., Egenera’s equity sponsor.
About Egenera:
Converge. Unify. Simplify. That’s how Egenera brings confidence to the cloud. The company’s industry leading cloud and data center infrastructure management software, Egenera PAN Cloud Director™ and PAN Manager® software, provide a simple yet powerful way to quickly design, deploy and manage IT services while guaranteeing those cloud services automatically meet the security, performance and availability levels required by the business. Headquartered in Boxborough, Mass., Egenera has thousands of production installations globally, including premier enterprise data centers, service providers and government agencies. For more information on the company, please visit egenera.com. Follow Egenera on Twitter, LinkedIn and Facebook.
About Comvest:
Comvest Partners, with $1.3 billion of assets under management, provides flexible financing solutions to lower middle-market companies through its equity and debt funds, often meeting time-critical and complex funding requirements. Our firm includes seasoned, senior level operating executives who partner with managers and owners of companies to operationally improve businesses and create long-term value. Since 2000, Comvest has invested more than $1.9 billion of capital in over 130 public and private companies. Please visit www.comvest.com.