#United States #Irving #CloudCover #CoverIT #Argentum

CloudCover Secures Major Growth Investment

In a pivotal move, CloudCover, renowned for its innovative third-party maintenance (TPM) and IT lifecycle management solutions, has announced a significant growth investment from Argentum, a New York-based equity firm well-known for supporting founder-led B2B technology ventures. This investment is set to power CloudCover’s ambitious drive into international markets and catalyze further advancements of its state-of-the-art platform, CoverIT™.

Jeff Huggins, the company’s founder and CEO, expressed confidence in the partnership with Argentum, stating, "This is the right point in our growth journey to initiate such an impactful collaboration. The opportunity for us to lead in the TPM and IT lifecycle management landscape through innovative technology is vast and accelerating. Argentum aligns perfectly with our mission to scale while adhering to the culture and vision that brought us success."

Huggins, who will maintain his roles as Chairman and CEO while holding the majority stake post-investment, emphasized the pride he feels in the talented team that has navigated CloudCover's journey thus far. The company has been notably recognized for creating a flexible, cost-effective infrastructure through its CoverIT™ platform. By employing this cloud-based service operations platform, major IT channel partners can provide responsive field services on a global scale.

Robert Kenney, CloudCover's Chief Revenue Officer, reflected on the trust the company has gained from leading names in the industry, stating, "Our partner-first strategy has been essential in delivering the reliability and flexibility our clients need. This partnership with Argentum will empower us to further invest in our partner ecosystem, expand internationally, and elevate our support standards even higher."

Daniel Raynor, Managing Partner at Argentum, highlighted CloudCover’s unique “channel-first” strategy as a key differentiator in the TPM market, stating, “This approach allows channel partners to enter the lucrative TPM space with minimal investment, utilizing their own branding. We are thrilled to support CloudCover as it embarks on this significant phase of growth and technological innovation.”

CloudCover joins a robust portfolio of founder-led enterprises under Argentum’s wing, all dedicated to industry transformation through customer-centric innovation. With over three decades of experience under its belt, Argentum has invested in over 100 companies and has been recognized as a top-choice investor for founders seeking capital-efficient growth.

This partnership signifies a notable moment for CloudCover as it continues to redefine how IT services are managed and delivered globally, from desktop solutions to expansive data centers. With its eyes set on global horizons, the company is poised to leverage this investment to not only grow its footprint but to enhance operational efficiencies for its partners worldwide.

For more on CloudCover, visit www.cloudcover.it.

About CloudCover: CloudCover leads the market in third-party maintenance (TPM) and IT lifecycle management solutions. Its CoverIT™ platform enables partners to effectively manage and support IT infrastructure across the globe, establishing a new standard for service delivery in the technology arena.

About Argentum: Argentum focuses on nurturing capital-efficient B2B software and technology-enabled companies, providing them with the necessary funds to scale efficiently. Over the years, it has emerged as a key player that bridges the gap between venture capital and private equity, especially for firms not pursuing a change in management control.