Minneapolis-based Agosto Holdings, a cloud-services and development company, has secured $6.5 million in capital from California-based Bridge Bank and SG Credit Partners.
Founded in 2001, Agosto helps clients leverage Google Cloud products for private and public partners, providing technical solutions, training and support, migration from legacy systems and custom-product development.
“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… since it enables Agosto to invest without touching existing equity.”
Agosto, which declined to specify its revenue growth, said it has tripled revenue and head count since 2016.
The capital will allow Agosto to advance its strategy within the Google system, add personnel to sales and marketing, and promote Skykit — the first digital signage content-management system built on the Google Cloud Platform.
“Agosto’s relationships with Bridge Bank and SG Credit come after four years of tremendous growth,” said Michael Majerus, Agosto vice president of finance. “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.”
Agosto, with 63 employees, said it is one of the largest Google-cloud partners globally.