CloudSmartz, whose Acumen360 software solution enables rapid digital transformation and revenue-acceleration solutions for Communications Service Providers (CSPs), landed a significant investment from Decathlon Capital Partners to support its ambitious growth initiatives.
CloudSmartz LLC., whose Acumen360 software solution enables rapid digital transformation and revenue-acceleration solutions for Communications Service Providers (CSPs), landed a significant investment from Decathlon Capital Partners to support its ambitious growth initiatives.
Headquartered in Rochester, New York, CloudSmartz will use the fresh capital for additional investment in software development as an expansion of its sales and marketing reach. Details of the revenue-based financing were not disclosed.
Dan Wagner, Chief Executive Officer and Co-Founder of CloudSmartz, said the innovative Acumen360 platform developed by the company has been widely recognized as a significant technological advancement that assists Communications Service Providers of all sizes undertake digital transformation initiatives. “Automation is the key to driving lean, customer-centric communication services,” Wagner said. “Our Acumen360 platform helps our customers create and unlock significant value.”
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Manjeet Dhariwal, the company’s Chief Technology Officer and Co-Founder, said CSPs and telecom companies turn to CloudSmartz to navigate a challenging environment. “Acumen360 helps them integrate the newest technology with legacy systems, develop agile and efficient automated processes, and provide their customers with the unified customer experience that builds loyalty,” Dhariwal said.
CloudSmartz was not required to give up any equity, ownership or control of the company in exchange for the growth capital. CloudSmartz will repay the investment through its future revenues.
Kevin Grossman, Vice President of Decathlon Capital Partners, said the flexible terms of revenue-based financing are valuable to rapidly growing companies such as CloudSmartz. “CloudSmartz has been among the fastest-growing privately held companies in America for five years, a recognition of the ability of its strong leadership team to address the needs of Communications Services Providers across the globe,” Grossman said. “The funding provided by Decathlon Capital Partners will further accelerate the upward trajectory of CloudSmartz.”
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