ShoreGroup has secured a growth equity investment from private equity firm Francisco Partners. The funding, expected to close within 60 days, will support the next phase of ShoreGroup’s growth in partnership with the company’s current leadership team.
“Francisco Partners has an extensive track record of investing in and growing technology companies and brings particular expertise in communications and infrastructure hardware and software as well as technology-enabled services,” says Robert Veghte Kennedy, ShoreGroup’s President and CEO. “Our mission is to help IT leaders address the continuous pressure to deliver mission-critical services while reducing costs. We believe this new partnership with Francisco Partners will allow us to accelerate our growth and realise our customers’ and company’s full potential.”
ShoreGroup provides software and networking management service solutions to major enterprises, cloud and hosted solution providers, and government agencies. It helps organisations reduce IT operating costs and increase their systems availability while optimising their unified communications, contact centre, virtualised data centre and network assets.
“Over 15 years of investment, ShoreGroup has built a unique technology solution in its CaseSentry software platform and ShorePatrol managed servicing offering,” says Andrew Kowal, a partner with Francisco Partners. “ShoreGroup has differentiated domain expertise in an attractive and growing end-market, as evidenced by their longstanding and deep relationships with their blue-chip customer base. ShoreGroup’s patented technology can be applied to a broad range of industries that face challenges associated with secure data collection, analysis, automation and operational optimisation. We look forward to partnering with ShoreGroup’s leadership team and employees to build on its existing capabilities, further strengthen its customer relationships, and capitalise on this market opportunity.”
