The company will use the funds to consolidate existing debt, and as growth capital to invest in its core Google practice
MINNEAPOLIS – May 30, 2019 – Agosto Holdings, LLC, a cloud services and development company and Google Cloud Premier Partner, announced today it has secured $6.5 million in capital from Bridge Bank and SG Credit Partners.
Agosto helps organizations leverage Google Cloud products in the private and public sectors – providing technical solutions, change management and training, migration and deployment from legacy systems, ongoing admin support, and custom product development. The company, founded in 2001, is headquartered in Minneapolis with sales offices in Chicago, Toronto, Houston, Nashville, San Francisco, and Los Angeles.
“Agosto is a high growth, innovative company that has matured to the stage where it can obtain funds on demand,” said Raelene Sagapolu, Vice President at Bridge Bank. “These funds will be of great benefit to the company, its partner ecosystem, and its shareholders, since it enables Agosto to invest in the company without touching existing equity.”
Agosto has tripled its revenues and headcount since 2016. The capital will allow Agosto to continue to keep pace with an aggressive growth plan that includes advancing its go-to-market strategy within the Google ecosystem, adding personnel to its sales and marketing departments, and continuing to promote Skykit – the first digital signage content management system (CMS) built on Google Cloud Platform (GCP). Since Skykit’s launch in 2014, Agosto has invested significant capital into the product, which is as suited to a budget-conscious school district as it is for a global enterprise. Skykit presently has hundreds of customers, including one of the largest health education digital signage networks in North America.
“Agosto’s new strategic relationships with Bridge Bank and SG Credit come after four years of tremendous growth,” stated Michael Majerus, Agosto Vice President of Finance and Human Resources. “Our plans call for an acceleration of this growth in the coming years, and this new capital will allow us to continue to invest in specific areas of the company while maintaining shareholders’ equity interests for the foreseeable future.”
Founded in 2001, Agosto is a cloud services company that helps organizations leverage Google Cloud products in the private and public sectors by providing technical solutions, change management and training, migration and deployment from legacy systems, ongoing admin support, and custom product development. Agosto is one of the largest Google Cloud Platform Partners globally, headquartered in Minneapolis, Minn. and with sales offices in Chicago, Toronto, Houston, Nashville, San Francisco, and Los Angeles. Agosto’s clients include 1-800-Got-Junk?, the State of Wyoming, Unilog, Groupon, Jaguar Land Rover, and the Library of Congress, among others, and the company has been included in the Inc. 500 | 5000 four times. For more information visit www.agosto.com. Follow: Twitter | Blog | LinkedIn.
About Bridge Bank
Bridge Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their growth ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small-market and middle-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank delivers a broad scope of financial solutions including growth capital, equipment and working capital credit facilities, sustainable energy project finance, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has eight offices in major markets across the country along with Western Alliance Bank’s powerful array of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. One of the country’s top-performing banking companies, Western Alliance has ranked in the top 10 on the Forbes “Best Banks in America” list for four consecutive years, 2016-2019. For more information, visit bridgebank.com.
About SG Credit Partners
SG Credit Partners provides $1 – $10 million structured debt solutions to lower middle market businesses across the country in need of financing for working capital, growth capital, acquisition capital, or special situations. Headquartered in Southern California, the SG Credit Partners team has provided in excess of $250 million to 150+ borrowers across a variety of industries. For more information, visit www.sgcreditpartners.com.