Cloud services startup Agosto raises $6.5 million

June 6, 2019
Updated: July 23, 2019
Written by Folake Dosu

cloud-computing-agosto

Cloud services startup Agosto has secured $6.5 million in capital from Bridge Bank and SG Credit Partners, the company announced in a press release.

As a Google Cloud partner, Agosto works with organizations in the private and public sectors to help them use cloud computing, offering technical solutions, change management and training, migration and deployment from legacy systems, ongoing admin support and custom product development among its services.

“Agosto is a high growth, innovative company that has matured to the stage where it can obtain funds on demand. 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.”

Founded in 2001, the company has headquarters in Minneapolis as well as 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.”

Since 2016, the company has has tripled its revenues and headcount. Its clients include 1-800-Got-Junk?, Groupon and Jaguar Land Rover, among others. Agosto plans on using this capital to continue its aggressive growth, with plans to advance its go-to-market strategy within the Google ecosystem, boost sales and marketing hiring and evangelizing Skykit, the first digital signage CMS built on Google Cloud Platform.

“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.”

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