Centroid Systems Inc., a provider of managed cloud-services and enterprise workload consulting services in Troy, has received a “significant growth investment” from VSS Capital Partners in New York. Terms of the transaction were not disclosed.
VSS is a private investment firm focusing on the business services, health care, education, and information industries.
Centroid is one of the few certified Oracle Cloud Service Providers in North America, winning 14 North American Partner of the Year awards from Oracle. Centroid provides Oracle enterprise workload consulting and managed services across all major public cloud providers, including Azure, Amazon, Google, IBM, and Oracle, as well as private cloud technology.
“We could not be more thrilled to partner with VSS at a time when a large number of businesses are expected to migrate their ERP systems to the public cloud in North America over the next five to 10 years,” says Scott Morrell, CEO and managing partner of Centroid.
Centroid serves U.S. companies across different industries including technology, manufacturing, automotive, personal care, and medical devices, among others.
“We believe this backlog creates a strong secular tailwind to drive demand for deep industry knowledge, experience, and broad range of capabilities for years to come,” says Eric Reed, managing partner of Centroid whose core offerings include managed cloud services, consulting services and engineered solutions.
“Together with VSS, we have already identified several strategic acquisition opportunities to further strengthen our managed services, digital transformation, analytics, and public cloud solution capabilities,” says Jim Brull, a managing partner of Centroid.
“Centroid is meeting the strong demand for digital transformation services from today’s fast-growing businesses that require significant Oracle expertise to accelerate and implement their cloud-based solutions and digital transformation,” says Trent Hickman, managing director of VSS. “Many of these projects that require comprehensive cloud support services generate recurring revenue and involve multi-year contracts that help ensure the migration to cloud, integration, managed services and remote computing needs of the Oracle ecosystem are managed effectively and seamlessly.”
The Oracle enterprise resource planning services market is a highly fragmented, high-growth, and complex, where companies are increasingly seeking specialized expertise to successfully implement next-generation digital transformation strategies as cloud computing continues to evolve.
“This transaction demonstrates our ability to structure flexible capital solutions that enable founder-owned companies like Centroid to pursue new growth opportunities, benefit from the additional operational, financial and IT industry resources that VSS brings to the table, plus strongly align investor and company management interests,” says Yash Kandoi, principal at VSS.