DENVER, Nov. 21, 2016 /PRNewswire/ -- Greystone will use the $2.0M royalty-based growth capital to scale their unique service model to serve more customers and expand into the enterprise market. In addition to investing in core services, Greystone will grow their healthcare IT and digital marketing, security, and compliance practices. Additional investments include building business development and marketing capabilities.
"This investment presents a tremendous opportunity to build on our culture of being a people-first technology company," says Greystone co-founder Peter Melby. "Business leaders across every division from HR to operations are being asked to make critical technology decisions. We can now build on our products and services to better support those leaders as they grow their companies."
Greystone has averaged 40% growth per year for the past 12 years, in part due to a service model unique in the managed service industry. Rather than providing clients with a pool of engineers staffing a help desk, each Greystone client engages with a dedicated team of engineers, consultants and business technology advisors. This model enables Greystone to deliver an excellent user experience and more appropriate, meaningful support driven by each team's knowledge of their client's context.
"The non-equity structure of this investment gives us access to Cypress' deep experience while maintaining the autonomy we need to move fast," said Greystone co-founder Jesse Armstrong. "This is a perfect partnership for building on our core capabilities and accelerating the development and delivery of new products and services that will make an impact on our client's businesses."
About Greystone Technology
Headquartered in Denver, Greystone Technology offers outsourced IT services for small and midsize organizations. Greystone's managed services cover seven key aspects of business technology:
- User support
- Network and System administration
- Digital marketing
- Website and application development
- Vendor management
- Business technology strategy
Greystone was founded in Denver in 2001. Since then, Greystone has expanded to include three offices along Colorado's front range and 70 employees.
About Cypress Growth Capital
Cypress Growth Capital is the largest and most experienced royalty-based growth capital investor in the United States. Formed in 2010, they have completed dozens of multimillion-dollar royalty investments in software and technology-enabled services companies. With more than $100,000,000 of capital under management, Cypress has an established track record of funding emerging companies and helping entrepreneurs achieve their goals.
Contact: Jeremiah Fellows, 1-303-757-0779, [email protected]
SOURCE Greystone Technology