The round was led by TVC Capital, a San Diego-based growth equity firm focused on investing in enterprise software companies. The round also included the participation of Tao Capital Partners, a family office based in San Francisco. The funding marks the first time that BitTitan has raised any capital since its founding in 2007. BitTitan will use the funding to further establish its position as a leading provider of cloud enabling services, expand its MSPComplete platform with more managed automation capabilities, and aggressively expand into new geographic markets. The company also announced that Steve Hamerslag, managing partner of TVC Capital, will join its board of directors.
‘BitTitan is our largest Series A funding to date,’ Hamerslag said. ‘It is rare for a bootstrapped company to have achieved BitTitan’s level of growth, and we see this as a testament to Geeman’s fearless leadership and the exceptional management team he has put together. Serving on the board, I look forward to working with this proven, dynamic team as they continue to expand globally and help shape the cloud services market. ”
Pioneer in the cloud services brokerage (CSB) market, BitTitan modernizes cloud service delivery with its flagship MSPComplete offering, empowering IT service providers to sell more cloud products, connect customers to the cloud, and generate recurring revenue. BitTitan also supports a number of leading cloud ecosystems, including Microsoft, Amazon, Google, and Dropbox.
‘Over the next five years (from 2016 to 2020), over $1 trillion in compound IT spending will be directly or indirectly impacted by cloud shifts, making cloud computing one of the most disruptive forces in IT spending since the early days of the digital age,’ wrote Ed Anderson, Research VP, and Michael Warrilow, Research Director, Gartner.
Since its founding, BitTitan has shown significant momentum across all facets of the company. BitTitan has increased top-line revenue by 50 to 100 per cent in each of the last five years and has doubled its number of partners in the last year alone. With employees worldwide and an office in Singapore, BitTitan has helped more than 4 million users from more than 100,000 companies in 125 countries to take over the cloud. BitTitan’s partner ecosystem includes more than 7,000 leading managed service providers (MSPs), system integrators (SIs) and leading distributors, including Ingram Micro, Tech Data, HP, IBM, Avanade, Rackspace, New Signature, Softbank and SADA Systems.
‘The decision to partner with TVC Capital was less about money, and more about Steve and his team’s domain expertise and hands-on approach to helping us expand and continue to dominate as a cloud leader,’ said Geeman Yip, founder and CEO of BitTitan. ‘BitTitan started in my basement, and over the last nine years, we’ve paved the way for tremendous growth. This funding validates us both as a leader in the market for cloud services and as a disruptive force in modernizing the process of shifting mission-critical workloads to the cloud. We are eager to begin this chapter alongside the wealth of experience and genuine commitment that TVC Capital brings to the table. ”
1 Gartner, Market Insight: Cloud Shift—Transition of IT expenditure from traditional systems to cloud, 18 May 2016.
On BitTitan
BitTitan is the industry leader in cloud services enablement, delivering solutions that empower IT consultants and service providers to sell on-board and cloud technology services. With its comprehensive cloud enablement platform, MSPComplete, BitTitan enables MSPs to sell more Office 365, Azure and complementary cloud services, faster on-board cloud workloads without additional training, recurring revenues, and service customers throughout their entire cloud journey. Partners have used BitTitan’s globally recognized products, including MigrationWiz, to help more than 100,000 customers worldwide move 4 million employees seamlessly to the cloud. BitTitan supports a number of leading cloud ecosystems, including Microsoft, Amazon AWS, Google Cloud, and Dropbox. Visit www for the latest news and information. BitTitan’s Come or follow us on Twitter @BitTitan.
About the Capital TVC
TVC Capital is a San Diego-based growth equity firm with more than $235 million under management. TVC focuses on investment in and acquisition of business-critical software firms TVC targets a wide range of software and industry vertical sectors that are ready for growth and consolidation. The TVC team is led by operating executives with more than 80 years of experience developing technology companies into market leaders. Current and previous investments include Accordent Technologies, Levels Beyond (Reach Engine), Del Mar Datatrac, Limeade, LiquidPlanner, MediaPlatform, Mercent, Centage, Celigo and ReverseVision. Visit www for more information. The capital of tvc Come on,
About the capital partners of Tao
Tao Capital Partners invest in technology, alternative energy and transport, healthcare and education companies with a sustainable positive impact. Tao is an active investor with the ability to support companies at different stages of their life cycle. Visit www for more information. Taocap’s Come on,
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