Cohere Capital completes strategic growth investment in Promevo
Cohere Capital, a Boston-based private equity firm focused on investing in tech-enabled middle market companies, has made a strategic growth investment in Kentucky-based Promevo, a provider of IT services, solutions, and software focused on Google Workspace, Chrome, and Cloud Platform (GCP) technologies.
As a Premier Google Partner, Promevo offers its clients resale, services, and solutions leveraging its proprietary management software product, gPanel. gPanel is a comprehensive management and reporting software solution which helps clients manage users, documents, reporting, automation, and security in an easy-to-use interface specifically built for Google Workspace.
The investment and partnership from Cohere will allow Promevo to continue to grow its service offerings and further develop innovative software and service solutions for businesses operating on the Google technology ecosystem.
Tom Mason and Aaron Gumz, Co-Founders of Promevo, commented, “After serving customers in the Google ecosystem for nearly two decades, we are uniquely positioned to provide differentiated and innovative software enabled solutions to help clients manage the full suite of Google technology. We are excited to partner with Cohere to continue to grow our relationship with Google and our capability set to better serve our customers.”
Nik Shah, Cohere Capital Managing Partner and Co-Founder, added, “We are thrilled to be working with Tom, Aaron, and the rest of the Promevo team to help drive their growth with Google and the customers they serve.” Daniel Gedney, Cohere Capital Principal and Co-Founder, added, “We couldn’t be more excited about the next stage of growth for this business and team.”
Promevo was represented in this transaction by martinwolf, a leading M&A advisory firm serving the IT industry.