CallTower has received new investment to help elevate its UC and collaboration services to the next level.
Private equity firm BV Investment Partners has announced its investment in CallTower to empower its portfolio of cloud-based communications and collaboration solutions across platforms such as Microsoft Teams, Zoom, Cisco Webex and Five9.
Bret England, Chief Executive Officer of CallTower, said:
The growth of remote and hybrid workforces has driven demand for collaboration platforms, and CallTower has been there to help teams stay connected. As a solution-agnostic provider aligned with best-of-breed platforms, CallTower is helping change the way people communicate around the world and get work done."
The investment is subject to customary closing conditions, with both CallTower and BV Investment Partners expecting the deal to close in Q4 2023.
"We have found a like-minded partner in BV, and this new relationship will help us to accelerate our growth, both organically and through acquisitions, while maintaining a healthy, well-functioning organisation and providing exceptional service to our customers," England added.
BV Investment Partners was motivated to proceed with the investment because of its awareness that cloud communications is a $15 billion market expected to grow double digits as organisations around the world continue to adopt collaboration platforms and embrace digital transformations away from legacy systems towards the cloud. CallTower was considered to hold a "strong position as a value-add partner with large platforms" given its position as a solution-agnostic provider.
"Enterprises and their employees have made a lasting shift in how they communicate centred around modern collaboration platforms," said Justin Garrison, Managing Director of BV. "CallTower stands to benefit from the long-term trends of cloud migration, growth in hybrid and distributed workforces, and migration towards best-of-breed platforms. Bret and the CallTower team have built an exceptional organisation, and we're excited to partner with them to support and enable an ambitious growth strategy."
