Venture Capital News: PrinterLogic Raises $15M
ST. GEORGE, UT, PrinterLogic today announced a $15 million Series-A financing round, led by top growth capital firm Mercato Partners.
PrinterLogic, a pioneer in enterprise print management software solutions, today announced a $15 million Series-A financing round, led by top growth capital firm Mercato Partners. PrinterLogic will use the financing to accelerate product development and fuel market expansion.
PrinterLogic's printer and driver management platform reduces infrastructure costs by eliminating print servers and providing centralized management of every printer on the network. Sold in both on-premise and cloud configurations, PrinterLogic also offers secure pull printing, mobile printing, and improved performance in virtual desktop (VDI) environments. The firm's customers report dramatic reductions in driver management and print-related help desk costs, as well as improved printing reliability for end users.
"PrinterLogic's elegant software solution eliminates frustration for all organizations and industries," said Greg Warnock, managing director, Mercato Partners. "Their platform significantly enhances the management of a daily, vital business process and dramatically speeds its deployment. We look forward to supporting PrinterLogic's global expansion and empowering its customers through our investment."
The company was named one of Inc. Magazine's Best Workplaces 2017, and ranked as the 99th fastest growing company on Deloitte's North American Technology Fast 500. Last January the company launched PrinterCloud, the first cloud solution that eliminates print servers. This year, PrinterCloud was named "Outstanding SMB Print Environment Management Solution" by Buyers Laboratory (BLI). In addition, BLI awarded PrinterLogic "Outstanding Enterprise Print Environment Platform."
"Vision, hard work, discipline, and a team of incredibly talented people have boot-strapped PrinterLogic to market-leading growth and our first institutional investment," said PrinterLogic CEO Ryan Wedig. "We're very proud of this milestone, but we're even more excited to partner with Mercato's investment and performance teams as we deliver the promise of a completely serverless print management infrastructure to the market."
Mercato Partners, a leading growth capital firm, has a successful track record of investing in growth companies, including Skullcandy, Fusion-IO, Control4, CradlePoint, Domo and Stance. Mercato Partners' Managing Director Greg Warnock will join PrinterLogic's Board of Directors.
Thousands of enterprises use PrinterLogic's patent-pending printer and driver management platform to deliver mobile, pull and virtual printing, while eliminating print servers and providing a self-service portal that empowers end users to install their own printers. PrinterLogic was ranked 2nd in the Utah 100 Fastest Growing Companies in 2017 and ranked 8th in software for the Inc. 5000 Fastest-Growing Private Companies. In addition, the company has been included multiple times on the Inc. 500 and Deloitte Fast 500 lists of fastest growing companies in North America. For more information, please visit www.printerlogic.com.
About Mercato Partners
Founded in 2007, Mercato Partners provides capital and guidance for firms in their growth stage. The company has supported entrepreneurs by investing in businesses that have become familiar to investors, technologists and consumers. Through experienced investors and analysts, Mercato works with its in-house performance team and an extended network of advisors and service providers to accelerate growth. The firm makes equity investments in high growth technology, branded consumer and digital media companies and provides market-leading businesses with distinct value-add expertise by helping them accelerate sales, develop new channels and expand to new markets. For more information, please visit www.mercatopartners.com.
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