Periscope Equity LLC has teamed up with Michael Sterl, a telecom and cloud services veteran, to launch a next-generation managed service provider platform. Recently, Sterl co-founded Cloud Optik and Carve Digital.
Chicago, IL, July 10, 2019 – Chicago-based private equity firm, Periscope Equity LLC (“Periscope”) announced today that it has partnered with telecom and cloud services veteran, Michael Sterl, to launch a next-generation managed service provider (MSP) platform. The new company will acquire MSPs across the technology stack while integrating a data-driven sales enablement engine to enhance cross-sell opportunities across the go forward family of companies.
Sterl brings a wealth of IT services experience to the partnership, most recently co-founding Cloud Optik and Carve Digital, two platforms that provide marketing, sales enablement and data analytics solutions to the telecom industry. Previously, he was the co-founder and executive vice president of SimpleSignal, a unified communications service provider that was acquired in 2015 by Vonage, which retained Sterl post-acquisition as regional vice president of channel sales for Vonage Business.
“We couldn’t be more excited about this partnership given the opportunity in the partner community right now,” said Michael Sterl. “We’re using big data and machine learning to completely shift the ‘Acquire-Nurture-Grow’ sales process from having ‘best guesses’ to having in-depth tech and customer knowledge. We’re turning insights into action, giving data-driven guidance on what customers want to buy – as well as when and how.”
“Michael has been an evangelist about the need to leverage today’s available data to better serve the customer while creating a competitive advantage,” said Eric Hinkle, Principal at Periscope Equity. “We plan to build a platform that brings together best-of-breed IT services companies while leveraging data and a white-glove approach to enhance the overall customer experience.”
Periscope will seek to capitalize on ever-greater complexities in the small- and mid-size business and mid-market enterprise spaces, which are driving the convergence of IT & infrastructure services and intensifying demands for an integrated services provider. The partnership combines the financial resources and acquisition expertise of Periscope with industry insight and ground-breaking sales enablement technology custom-made for MSPs.
“In partnering with Michael, Periscope reaffirms its commitment to align with top executives across its core investment sectors and to accelerate growth through organic initiatives and strategic acquisitions,” said Steve Jarmel, Partner at Periscope Equity. “Michael brings deep industry and technology expertise directly from the MSP space, and his energy and record of innovation are exactly what we’re looking for in our partnerships.”
“Together with Periscope, we’re 100% committed to bringing sales enablement technology to the market,” said Sterl. “We’re excited about the strategic focus of acquiring and working with industry leaders in this space. The net effect of this partnership is that we can also help those in the indirect channel work smarter and embrace a completely new way of doing business.”
Periscope Equity is a Chicago-based private equity firm focused on investments in technology-enabled business services companies across five key verticals, including marketing services, healthcare services, security services, software, and outsourcing. Periscope specifically targets founder-owned companies, with mission-critical products and service offerings, a history of sustainable profitability and known avenues to accelerate growth. In alignment with proven management teams, Periscope provides strategic, operational, and commercial expertise to drive superior investment returns.
For more information, please visit www.periscopeequity.com