3Cloud Receives Growth Equity Investment from Gryphon Investors
Investment will enable leading Microsoft Azure services firm to capitalize on accelerating demand for cloud transformation
3Cloud, a leading Microsoft Azure services firm, has announced a significant equity investment from Gryphon Investors. The investment will enable 3Cloud to accelerate its growth and scale to meet increasing demand for Microsoft Azure technology consulting and managed services.
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“The pace of organizations transforming their technology environments with Microsoft Azure has only continued to accelerate. There is more urgency than ever before to migrate to the cloud,” said Mike Rocco, 3Cloud co-founder and Chief Executive Officer. “The investment from Gryphon will help us capitalize on this unique moment in the evolution of cloud and capture even more of the Azure market opportunity.”
3Cloud is a Gold-certified Microsoft Azure technology consulting firm and Azure Expert Managed Services Provider. Founded in 2016, the firm has grown to 70 full-time employees with offices in Chicago and Dallas. In 2019, 3Cloud delivered Microsoft Azure services for 160 clients, more than doubling its number of clients from 2018.
“We strongly believe 3Cloud has the right people, tools and processes to win at this moment. Our seasoned team has a track record of driving growth and delivering successful results, including experience operating billion-dollar businesses,” said Jim Dietrich, 3Cloud co-founder and President. “The additional capital we have received from Gryphon combined with their operational expertise will help us further accelerate our path to scale and impact for our clients.”
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3Cloud’s current leadership team will maintain a significant ownership share in the company and will continue to manage the firm with support from Gryphon. Gryphon representatives will join 3Cloud’s co-founders on its Board of Directors, along with seasoned services and Microsoft channel executives to be announced at a future date.
Alex Earls, Partner and Head of the Business Services Group at Gryphon, said, “3Cloud is a strong match with Gryphon’s track record of supporting the growth of market-leading professional services businesses, and we are excited to partner with Mike Rocco, Jim Dietrich and their management team to support the company’s rapid organic growth and add-on acquisition strategy.” Gabe Stephenson, Principal at Gryphon, added, “There is tremendous growth potential in the Microsoft Azure market space. 3Cloud has demonstrated its ability to serve as a platform for success within that space. We are excited to partner with 3Cloud to expand their market presence and achieve continued growth.”