Investments

Tercera adds two new partners

Former Guggenheim Partners Investment Banker Bill Petty, and Former Appirio CX and Marketing Leader Michelle Swan Join the Tercera Team

EVERYWHERE – April 8, 2021 – Tercera, a growth-focused investment and advisory firm specializing in technology professional services, today announced that Bill Petty and Michelle Swan have joined the firm as partners. Together, they bring decades of IT services experience to help Tercera drive forward the Third Wave of cloud computing. Bill and Michelle join Tercera CEO and founder Chris Barbin, partner Dan Lascell and partner Lisa Burton to support the firm’s investments in third wave cloud consultancies.

“Our goal at Tercera is to identify and empower the integrators, consultancies, and managed service providers who will lead the next wave of innovation,” said Chris Barbin, founder and CEO of Tercera. “Bill and Michelle have built, ran, advised and supported dozens of services companies over the last 20 years, and they bring pattern recognition for the opportunities and challenges our founders will experience as they scale their own business. They embody our mission and values, and will be invaluable partners to the entrepreneurs we back.”

About Bill

Bill brings more than 15 years of M&A experience to Tercera and will focus on the sourcing, execution and monitoring of Tercera’s investments. He joins Tercera from Guggenheim Partners where he was a Managing Director in the Technology Investment Banking Group. Prior to Guggenheim, Bill held investment banking roles with William Blair and City Capital Advisors and worked in KPMG’s Transaction Services Group. He has advised dozens of technology companies across the IT Services and Software markets on topics ranging from M&A, growth equity investments and IPOs. More on Bill here.

“Tercera is creating a new kind of investment firm, focused on the people that enable the third wave of cloud computing,” said Bill. “We are excited to partner with the founders and teams driving the next-gen IT services firms, and are confident that our counsel, connections and capital can help them become category defining leaders.”

About Michelle

Michelle brings to Tercera more than 20 years of branding, marketing and customer experience expertise. She will be responsible for guiding Tercera’s marketing, content and diversity & inclusion initiatives, the Tercera advisor and portfolio community experience, and helping founders amplify their own brand presence. Prior to joining Tercera, she founded and led Swancomm, a marketing communications consultancy supporting early stage product and services companies. Michelle was one of the earliest employees at Appirio, where she led corporate marketing, customer experience and initiated the company’s Customer Advisory Board. More on Michelle here.

“People-based businesses are the heart and soul of the economy, and the secret to success for some of the most well known technology companies out there. Yet they rarely get the attention and support they deserve. We aim to change that,” said Michelle.

About Tercera
Tercera is an investment and advisory firm founded to accelerate the growth of people-centric businesses. Specializing in the $460 billion cloud professional services market, the Tercera team is composed of invested operators who know first-hand what it takes to build and scale a successful cloud services business. Tercera (Spanish for ‘third’) is on a mission to identify the people and partners who will lead the next wave of cloud computing – the Third Wave – and provide them with the capital, counsel and connections they need to scale faster and take an outsized share of the market.

BeyondID secures $9M in series A funding from Tercera

Tercera’s Investment Spotlights the Market Opportunity for BeyondID’s Identity and Cybersecurity Services, and the Growth for Services in the Third Wave of Cloud Computing

 

San Francisco, CA – February 8, 2021 – BeyondID, a leading System Integrator (SI) and Managed Service Provider (MSP) for cybersecurity and cloud services, today announced it closed a Series A funding round of $9 million from Tercera. The financing was provided by Tercera, an investment and advisory company specializing in the $460B cloud professional services market.

BeyondID helps companies acquire, deploy and manage best-of-breed cybersecurity and cloud services to become more secure, agile and prepared for the future. The company is a Platinum Services partner for Okta, and specializes in Identity and Access Management, Secure App Modernization, Zero Trust Security, Cloud Migration and Integration Services.

“We are thrilled to partner with Tercera to expand our footprint in the Okta ecosystem and broaden our identity and cybersecurity offerings,” said Arun Shrestha, CEO and co-founder of BeyondID. “Tercera’s investment will help us meet the growing demand organizations have for more secure access to their critical data and higher performing cloud identity solutions.”

BeyondID has been a top partner for Okta, the leading identity platform in the enterprise, for nearly three years. It has earned Okta’s Platinum partnership for consistently delivering joint customer successes and for building one of the largest teams of Okta certified experts to solve complex use cases.

“The BeyondID team has been an invaluable part of our partner ecosystem for many years, working with us on some of our largest customers,” said Frederic Kerrest, Executive Vice Chairman, Chief Operating Officer, and co-founder of Okta. “They’ve played a vital role in helping our customers solve their most complex security and cloud computing challenges, and we’re excited to see BeyondID continue to meet the needs of our customers and grow with us.”

“Tercera is on a mission to identify and empower people and businesses who will lead the cloud’s Third Wave, and we couldn’t be more excited to have BeyondID as our first portfolio partner,” said Chris Barbin, CEO and founder of Tercera. “BeyondID exemplifies the kind of company that customers want to work with in this new wave – agile, focused, growth minded and customer-centric. A company with the specialized skills, technology and services to meet the evolving security needs and demands of today’s businesses and their remote workforce.”

BeyondID has served hundreds of enterprises that include ATN International, Bain Capital, Biogen, Discount Tire, FedEx, Gundersen Health Systems, Johnson Financial Group and Major League Baseball.

“ATN relied on BeyondID’s expertise to deploy our Identity and Access Management solution from Okta, on time and on budget,” said Benjamin Doyle, vice president of Information Technology at ATN International. “As a result of our successful engagement, we’ve expanded our relationship to help with our Zero Trust strategy. I’m excited to work with BeyondID in this incredibly important aspect of our business.”

For more information about BeyondID, please visit www.beyondid.com. To learn more about Tercera, visit tercera.io.

 

About BeyondID
BeyondID is a leading provider of managed identity services to help companies acquire, deploy and manage their cybersecurity and cloud service needs. BeyondID enables organizations to streamline their adoption process and ensure that their implementations are secure, agile and future proof. A few of the customers that trust BeyondID to keep their organizations secure include FedEx, ATN International, Bain Capital, Biogen, Discount Tire, Gundersen Health Systems, Johnson Financial Group and Major League Baseball.

 

Tercera
Tercera is a new kind of investment and advisory firm founded to accelerate the growth of people-centric businesses. Specializing in the $460B cloud professional services market, the Tercera team is composed of invested operators who know first-hand what it takes to build and scale a successful cloud services business. Tercera (Spanish for ‘third’) is on a mission to identify the people and partners who will lead the next wave of cloud computing – the Third Wave – and provide them with the capital, counsel and connections they need to scale faster and take an outsized share of the market.

Tercera launches to invest in people, not products

Tercera Looks to Accelerate Technology Professional Services Businesses Specializing in the Third Wave of Cloud Computing

EVERYWHERE – Jan. 28, 2021 – Tercera, a new growth-focused investment and advisory firm specializing in technology professional services, launched today to accelerate consultancies and managed service providers in the $460 billion cloud services space. Tercera will put $225 million in equity capital to work building the next generation of cloud leaders, focusing on services firms that specialize in analytics, automation, data, security, enablement and management of cloud technology.

The company, which is led by a team of seasoned investors and advisors who are deeply ingrained in professional services, is on a mission to empower the people and businesses who make technology work. Spanish for Third, Tercera provides those leading the cloud’s Third Wave with the capital, counsel and connections they need to scale faster, do more and achieve outsized outcomes in today’s digital age.

CEO Chris Barbin founded Tercera based on his experiences as the co-founder and CEO of Appirio and his recent work as a Venture Partner at GGV Capital. Appirio, a pioneer in cloud services, was among the first enterprise services partners of Salesforce, Google, Workday and AWS. Barbin led Appirio to be one of the largest cloud consultancies before it was acquired in 2016 for $500 million. The Tercera team is seeking to help other services companies achieve similar success in a market segment that has been historically neglected by other investment firms.

“We believe the professional services space has been underserved by investors for too long, especially as it becomes clear just how important these partners are to customer adoption and market growth,” said Chris Barbin, founder and CEO of Tercera. “Cloud professional services is already a massive market opportunity, growing more than 20 percent year over year. With the pandemic driving more digital connections with customers, partners and employees, and enterprise cloud adoption happening faster than expected, we believe this market is poised for significant growth over the next few years.”

“Businesses rely on cloud computing like never before and it underpins so much of the innovation happening in technology, so it’s not surprising cloud professional services are booming on G2,” said Godard Abel, founder & CEO of G2, the world’s largest B2B tech marketplace. “Businesses are in dire need of systems integrators and managed service providers who can help them manage their increasingly large and complex cloud deployments, and yet the capital flowing into this space has significantly lagged investment in the technologies themselves. Tercera fills a gaping hole in this area, and we’ll be closely watching the firm’s portfolio in the coming years.”

Trilantic North America, a private equity firm that manages aggregate capital commitments of $9.7 billion, partnered with Chris to form Tercera, joined by a network of individual investors aligned with Tercera’s people-first vision. Tercera looks to partner with services firms that are founder-led, growth-focused and cloud-driven.

Tercera typically takes a minority stake in companies, investing between $5 million to $20 million of capital, selectively partnering with other firms and strategic investors as businesses scale. However, the company will provide more than just growth capital. It is also building out a services-oriented Advisor Network that will provide practical and diverse guidance and support to founders.

“Capital is only one component to growth,” continued Barbin. “Experienced guidance and a support network play an equal role in helping founders and teams scale faster and more gracefully than they could on their own. The Tercera Advisors are services professionals who have built, bought and sold services organizations, or run critical functions in services businesses. They bring the pattern recognition, diversity and playbooks that growth companies need.”

Useful Resources
Definition and players in the cloud’s Third Wave
Read Tercera’s people-first manifesto
Connect with Tercera on LinkedIn
Follow Tercera on Twitter at @TerceraCapital
Follow Tercera’s blog for news, trends and advice in cloud services

About Tercera
Tercera is an investment and advisory firm founded to accelerate the growth of people-centric businesses. Specializing in the $460 billion cloud professional services market, the Tercera team is composed of invested operators who know first-hand what it takes to build and scale a successful cloud services business. Tercera (Spanish for ‘third’) is on a mission to identify the people and partners who will lead the next wave of cloud computing – the Third Wave – and provide them with the capital, counsel and connections they need to scale faster and take an outsized share of the market. For more information, visit: https://www.tercera.io/.