Summit Partners leads financing round, with participation from Noro-Moseley Partners, to strengthen the company’s position as the leading provider of Mac infrastructure for individuals and enterprises
ATLANTA & BOSTON–(BUSINESS WIRE)–May 9, 2017–
MacStadium, the Mac hosting authority and only provider of Mac Pro private cloud infrastructure-as-a-service (“IaaS”) around the world, announced today that it received a growth equity investment led by Summit Partners, with participation from Noro-Moseley Partners. MacStadium will use the funding to continue product and service innovation, expand its leading market position and build brand awareness.
Founded in 2012, MacStadium leverages its proprietary, patented platform and dedicated servers to provide hosted cloud solutions to software developers in over 50 countries around the world. With operations in Atlanta, Georgia, Las Vegas, Nevada and Dublin, Ireland, the company has deployed more than 10,000 Mac Minis and Mac Pros and serves more than 2,500 customers. In 2016, MacStadium was #44 on the Inc. 5000 List and was recognized at #20 on the Deloitte Technology Fast 500 List for North America.
“Summit Partners’ deep experience in the infrastructure and DevOps sectors will help MacStadium capitalize on new market opportunities and accelerate the execution of our long-term business plans,” said Gregory McGraw, CEO of MacStadium. “Together with Summit Partners and Noro-Moseley Partners, we are well equipped to continue MacStadium’s global expansion to more fully address the needs of over 10 million and growing iOS software developers worldwide.”
“MacStadium is a clear leader in the developer-focused cloud infrastructure services market,” said Michael Medici, Managing Director at Summit Partners who has joined the MacStadium Board of Directors. “We believe the company is well positioned for future growth as the adoption of agile, continuous integration/deployment and other DevOps strategies continue to gain traction within enterprises. We are thrilled to partner with Greg McGraw, Jason Michaud and the rest of the management team to support the company’s continued growth.”
Mike Elliott, General Partner with Noro-Moseley Partners who has joined MacStadium’s Board of Directors, added, “Customers rely on MacStadium’s infrastructure to improve the performance of development teams and deliver applications to market more quickly. As release cycles continue to shrink, we believe the solutions that MacStadium provides will only become more critical to its customers.”
“With this additional capital and with the support of our new equity partners, we are focused on further establishing our position as an innovative leader in the IaaS market,” said Jason Michaud, President and Founder of MacStadium. “We are excited about this next phase of growth.”
MacStadium was advised by DH Capital, LLC and Morris, Manning & Martin, LLP. Summit Partners was advised by Choate Hall & Stewart LLP. Noro-Moseley Partners was advised by DLA Piper LLP.
MacStadium is a leading provider of on-demand cloud IaaS, offering managed Mac hosting and private cloud solutions for individuals and organizations of all sizes. MacStadium is headquartered in Atlanta, Georgia with growing operations in Las Vegas, Nevada and Dublin, Ireland. Learn more at MacStadium.com.
About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently investing more than $9.5 billion into growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the global economy and has invested in more than 440 companies in technology, healthcare, life sciences and other growth industries. These companies have completed more than 140 public equity offerings, and more than 170 have been acquired through strategic mergers and sales. Notable technology companies financed by Summit include Acacia Communications, Avast, AvePoint, E-TEK Dynamics, Gainsight, Hyperion Solutions, Infor, McAfee, Perforce, RiskIQ, Telerik, Uber, Ubiquiti Networks and WebEx. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or follow on Twitter at @SummitPartners.
About Noro-Moseley Partners
Noro-Moseley Partners, based in Atlanta, is a venture capital firm focused on early growth stage companies in the healthcare IT and services sectors and information technology sectors. Since 1983, NMP has been a leader in its market, investing more than $750 million in over 190 companies. The managers of NMP’s current fund, Noro-Moseley Partners VII, have more than 60 years collectively of direct venture investing experience and bring a diverse set of skills to assist entrepreneurs in growing their companies. For more information, visit www.noromoseley.com.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners LLP, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners LLP is a limited liability partnership registered in England and Wales with registered number OC388179 and its registered office is at 20–22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.