BOSTON, Nov. 01, 2019 (GLOBE NEWSWIRE) — DoiT International (“DoiT” or the “Company”), a leading provider of proprietary public cloud optimization and operations software and public cloud expertise, today announced that Charlesbank Technology Opportunities Fund, a fund managed by Charlesbank Capital Partners, along with affiliated investors, has invested over $100 million in the Company.
DoiT is on track to more than double revenue in 2019, and this investment will enable the Company to invest in its software platform, scale its global team of cloud architects, grow its presence in North America and Europe, and pursue strategic acquisitions. Prior to this investment, DoiT had not taken any outside investment.
DoiT’s offering delivers significant value to its growing base of technology customers, providing support for public cloud workloads with complex requirements such as multi-cloud Kubernetes deployments, real-time data and analytics, and machine intelligence. Its software platform uses machine learning to enable customers to right-size workloads and optimize their public cloud spend across any of the three major public cloud providers.
DoiT’s solution provides meaningful cost savings to customers within 90 days of their being onboarded, and the Company’s engineering consultancy helps customers architect applications and deployments optimally for multi-cloud environments. Founded in 2011, DoiT has offices in Tel Aviv, San Francisco, New York, Austin, and London.
“Our goal is to help our customers harness the power of public cloud technologies in the most efficient way, freeing up their resources to invest in providing the best products to their customers,” said DoiT’s founder, Vadim Solovey. “This investment by Charlesbank will allow us to accelerate the development of our platform’s multi-cloud capabilities and support for the three major public cloud platforms.”
Added Yoav Toussia-Cohen, CEO and co-founder of DoiT, “Today’s announcement marks a major milestone in our journey as we build DoiT into a global company. We are pleased to be partnering with Charlesbank, who is well-aligned with our vision and will help us extend our presence globally, providing more companies with our solutions.”
“DoiT has built an impressive solution that enables some of the most sophisticated cloud users to adopt the latest technologies from Google, Amazon, and Microsoft, while optimizing their public cloud usage,” said Darren Battistoni, a Managing Director at Charlesbank who will join the DoiT Board of Directors. “Having spoken to many of their customers, it is clear that DoiT’s combination of innovative software and best-in-class technical capabilities provides the trusted external support that customers need to address the ongoing challenges associated with complex public cloud deployments. We are thrilled to partner with the talented DoiT management team, in what is the second investment for Charlesbank’s Technology Opportunities Fund.”
MVP Capital served as the exclusive financial advisor to DoiT International, with Bain Capital Credit and Deutsche Bank Direct Lending providing financing for the transaction.
About DoiT International
DoiT International tackles complex problems of scale that are unique to technology customers, using its expertise in coding, algorithms, complexity analysis, large-scale system design, and resolving problems. Driven by highly experienced, senior-level cloud architects, DoiT International offers a leading go-to innovation team that can help you make the cloud yours. For more information, please visit doit.com.
About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $5 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings and also engages in opportunistic credit and technology investments. The firm seeks to partner with strong management teams to build companies with a sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.