MAY 2, 2023, NEW YORK — An extra USD 65 million in capital was recently raised by Sourcepass, a market-leading provider of IT services and cybersecurity, increasing its total funding to USD 135 million. This sizeable investment will further their ground-breaking strategic initiatives. The introduction of Quest, a cutting-edge consumption platform powered by AI and intended to revolutionize their clients’ businesses completely, is one of their main priorities for 2023. In addition, Sourcepass wants to keep growing this year by making several tactical acquisitions to expand its vertical markets and strengthen its service and people resource portfolios. With its unrelenting dedication to the customer experience, Sourcepass is ready to upend the market and firmly establish itself as a top provider of IT services.
Through institutional capital sources and angel investments from successful businesspeople in the IT and cyber security sectors, Sourcepass has raised money. In Sourcepass’ last two funding rounds, a private investment group based in New York City named Metropolitan Partners Group played a significant role. Intending to give its portfolio firms growth capital to create long-term value and growth, Metropolitan has invested over USD 2 billion across more than 150 investments. Metropolitan Partners Group’s Richard Lin, Managing Director, stated, “We are happy to continue supporting the Sourcepass team. Their focus on the client’s needs and creative responses to the special IT issues faced by small and medium-sized enterprises put them in a strong position for success.
Chuck Canton, CEO and Founder of Sourcepass said, “We are increasing our investments in our clients. “Our progress as a company begins with delivering an experience that clients love, is backed by ongoing investments in our team, and is accelerated by carefully choosing integration partners that help to multiply our efforts,” the company’s website states.
Proxios, a well-known technology and solution provider with headquarters in Virginia, was successfully acquired by Sourcepass, making this the company’s eighth purchase in the previous 12 months. By increasing its client base in the healthcare, legal, and non-profit sectors, Sourcepass can increase its physical presence in the mid-Atlantic states, marking a significant turning point in its growth plan. The Sourcepass cloud and network management service bench has been strengthened by adding more than fifty talented and seasoned workers.
We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
