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Tecera launches with $ 225 million to fund cloud consulting firms – TechCrunch

As we move into a cloud-centric world everything was supposed to get easier, but in truth there are a lot of moving parts and businesses need help to make it all work. It takes people with a particular set of skills to help customers with tasks like integrations, managing hybrid and multicloud environments, and getting data where you need it.

Tecera, a new venture capital firm launching today, wants to tackle this problem by investing in companies that can act as assistants and consultants. In a world where venture capital tends to lean primarily towards software and hardware, this is a very different investment thesis.

Chris Barbin, founder and CEO of Tecera knows a little more about it. He was one of the founders of Appirio, a consulting company founded in 2006 when cloud computing as we know it today was just starting to take off. His old company had the vision and foresight to build a business to help businesses use new tools like Salesforce, Google, Workday, and AWS. Wipro bought the company in 2016 for $ 500 million after raising more than $ 117 million, according to data from Crunchbase.

Barbin thinks that today the level of complexity has only increased and that there will be a growing need for what he calls this human power to make everything work, and that requires some kind of investor. specialized. “There has been a wave of investment activity in professional service firms over the past two years, but there has never been an investment firm that focuses exclusively on these types of firms.” , explained Barbin.

During the company’s research phase, the founders identified key platform companies such as Salesforce, Twilio, Snowflake, DataDog, and Cloudflare, and they estimate that there are between 7,500 and 10,000 consulting firms supporting companies like this. “The aim of the company is to help create a kind of power plant for [platforms], or one or two companies that actually have the collection of these [SaaS platforms] in their toolbox, ”he said.

The company will target established businesses with revenues between $ 5 million and $ 20 million and aspire to reach hundreds of millions of dollars, and will distribute investments between $ 5 million and $ 20 million per bet.

The company is just getting started, but plans to hire 8 employees by the middle of the year. Barbin said at least one investment was already underway, but was not yet ready to give details.


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