3 New Partner Deals: StrataCore, Bridgepointe, InflowCX
An exclusive distribution deal, a partner equity recognition and a full-blooded CX acquisition.
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Seattle-based technology advisor StrataCore has joined the AppSmart Invest program.
The deal on one hand gives new funding to StratCore, which will retain its leaders’ ownership of the business. On the other hand, it makes AppSmart StrataCore’s exclusive distribution partner. That move has big implications for other technology services distributors, considering that StrataCore was an Intelisys platinum partner.
AppSmart is a division of B2B marketplace platform AppDirect.
Many agencies have opted into AppSmart Invest, including include Global Communications Group, NXTSYS Consulting and On Track Communications. AppSmart has distinguished program membership from an acquisition, saying that partners keep control of their business will getting upfront capital.
“We’re thrilled that StrataCore is partnering with us to power their business transformation trajectory,” AppDirect chief operating officer Renee Bergeron said. “AppDirect offers a unique and unparalleled combination of benefits for advisors, and we’re delighted that StrataCore will leverage our Invest program as a vehicle to solve some of their toughest business problems. The innovation, growth and diverse portfolio resulting from this partnership will enable StrataCore to serve its clients even better.”
AppSmart had reportedly given $45 million to 11 partners before announcing $80 millon in additional funding from Caisse de dépôt et placement du Québec (CDPQ).
StrataCore has built a strong reputation as one of the eminent partners in the Pacific Northwest, especially in the Seattle region. It has won awards from RingCentral, Zayo, Equinix, CoreSite, Masergy and many other vendors.
Its CEO, Aaron Loehr, is well-known for his thought leadership and mentorship within the partner community. He has penned columns for Channel Futures and recently earned a place in the Technology Advisor 101.
Loehr said he sees AppDirect’s leadership as “in it for the long haul and committed to doing what’s right.”
“That’s really important to me,” Loehr said. “AppDirect has built a B2B marketplace platform that is second to none with more than 300 engineers. Our enterprise clients want to use both an advisor and a technology platform to manage and procure their technology, and we expect that AppDirect’s marketplace combined with StrataCore’s advisory capabilities will lead the way to this future. Our partnership with AppDirect represents a major step forward for StrataCore, our team, and our customers.”
InflowCX last month announced the purchase of BPO Partners.
BPO provides, as you might expect, business process outsourcing, but specifically for the contact center arena. That fits well with Inflow’s charter, which is dedicated to helping customers source, design, implement and manage customer experience (CX) solutions.
Pennsylvania-based Renovus Capital Partners bankrolled the deal.
Renovus and Inflow first partnered with each other in 2020 and went public with their agreement in January 2021. Portland-based Inflow previously branded itself as Inflow Communications, a CCaaS and UCaaS-focused services provider.
“Since our initial investment in 2020, our management team has demonstrated its ability to grow the business organically and through accretive, strategic acquisitions that bring value to our customers,” Renovus founding partner Jesse Serventi said. “These efforts have enabled InflowCX to achieve scale and establish itself as the go-to partner in the contact center technology ecosystem.”
Inflow went onto purchase Denver-based CCaaS consulting firm PeakView in 2021. Former PeakView co-founder and CEO Ken Smith currently serves as Inflow’s CEO. Approximately a year ago Inflow announced the purchase of Nebraska-based Epic Connections, another contact center-focused services firm.
BPO hails from Atlanta, Georgia and has existed since 2010. Its customers include members of the Fortune 500 and midmarket companies.
Mark Lazzara founded the company after a six-year sales director tenure at AT&T. He now serves as senior vice president at InflowCX.
“InflowCX’s capabilities complement ours in a way that significantly enhances and expands our ability to better serve our clients,” Lazzara said in a statement. “The team at BPO Partners is excited to accelerate our combined competencies and continue our momentum as a growing customer experience industry leader.”
Bridgepointe Technologies handed equity partner status to one of its fastest growing agents.
Scott Coleman, who joined Bridgepointe as an IT strategist in 2021, has earned the recognition.
Bridgepointe co-founder and chief revenue officer Brian Miller said Coleman became a partner in “record time.”
“His commitment and drive exemplify not just what we look for in a strategist, but how we’re providing enterprise sales professionals with an opportunity to build their own businesses with world-class support,” Miller said.
Bridgepointe has given partner status to more than a dozen of its strategists. Its funding from Charlesbank Capital Partners has enabled it to do so, as well as to acquire companies like PPT Solutions.
Coleman made the jump from a succesful enterprise sales rep/account manager to an agent in 2021. His past employers include Nextel, AT&T, Level 3, Internap and Sungard Availability Services.
He founded his company, Cloud Review, with the help of a Bridgepointe investment.
“When I joined Bridgepointe, I had high expectations, and they’ve exceeded them every step of the way,” Coleman said. “While building my own business, I have never been alone on that journey. The company has provided critical expertise and resources so I can ensure my clients have the tools they need to succeed with their IT decisions. As a partner, I look forward to playing a role in the future of Bridgepointe.”
Coleman made the jump from a succesful enterprise sales rep/account manager to an agent in 2021. His past employers include Nextel, AT&T, Level 3, Internap and Sungard Availability Services.
He founded his company, Cloud Review, with the help of a Bridgepointe investment.
“When I joined Bridgepointe, I had high expectations, and they’ve exceeded them every step of the way,” Coleman said. “While building my own business, I have never been alone on that journey. The company has provided critical expertise and resources so I can ensure my clients have the tools they need to succeed with their IT decisions. As a partner, I look forward to playing a role in the future of Bridgepointe.”
Financial deals, including an exclusive partnership involving Seattle-based StrataCore, continue to heat up in the channel.
Sources in the technology advisory channel indicate that M&A will increase in 2023, despite the rapid pace of partner consolidation in 2022. A growing number of financial options exist for agents looking to sell their business, from Upstack to Bluewave to One Source to now Amplix. Most are leveraging private equity investments to fuel their deals.
The stories above involve three different parties. Two of them do not technically entail an acquisition, but the announcements do involve money and exclusivity.
AppSmart added StrataCore to its Invest program. Bridgepointe gave equity status to a record-setting partner. And in a peripherally related category, consulting and professional services provider Inflow CX deepened its portfolio with an acquisition.
Read about the deals in the images above.
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