Accelerate Fund III invests in latest startup by Colin Knox: Gradient MSP helps IT providers get paid fully for their work
Calgary, AB, November 8, 2021 – Accelerate Fund III today announced its investment into Gradient MSP, the latest startup by serial entrepreneur Colin Knox who recently led Passportal to acquisition by SolarWinds. This investment is part of Gradient MSP’s $10+ million USD Series A funding recently announced.
Gradient MSP helps managed service providers to capture and get paid fully for the work they do through its business automation and integration platform. The company’s research calculates that the average MSP is missing out on up to 10% of their monthly recurring revenue billings and Gradient MSP provides the data insight to close that gap.
“We are excited to announce our Series A funding, and very motivated by the immediate and long-standing impact this flow of capital will have on our ability to inspire and empower today’s MSPs with more intelligent business automation—netting them greater customer value and ultimately making it easier to account for and get paid for everything they do,” says Colin Knox, CEO, Gradient MSP.
Gradient MSP advocates for an open service provider ecosystem—offering the industry frictionless access to its platform, and an open API for any channel vendor to integrate.
“The Gradient MSP team brings to market a new vision for the future of IT and an accelerated path to customers for others in the channel,” commented David Edmonds, Accelerate Fund advisor. “It’s great to have the Gradient team choose Alberta for their next success story, and to see the opportunity to attract capital and talent here proven once again.”
The Gradient MSP team plans to use proceeds from the Accelerate Fund III investment, and the Series A round, to advance their technology innovation, enhance resources and training for customers, and rapidly expand the team. The company seeks to hire 50 additional employees in the next 6 months as it builds its fully remote workforce.
About Gradient MSP
Established in 2020, Gradient MSP offers the IT channel ecosystem a business automation and integration platform proven to help MSPs run a smoother, more successful services business by connecting all the solutions they resell and use to their PSA platforms. Founded by technology and business entrepreneur Colin Knox, Gradient MSP is solving for two of the biggest challenges and greatest opportunities facing the industry: everything-as-a-service reconciliation and an open, frictionless IT channel ecosystem. To learn more, visit https://www.meetgradient.com.
About Accelerate Fund III
Accelerate Fund III is an early-stage angel co-investment fund in Alberta. We co-invest alongside angel investors in financing rounds and will typically invest up to $500,000 on the same terms and conditions as private investors. We work with formal angel groups, super-angels, family funds, and individual angel investors. Accelerate Fund III invests in private, early-stage Alberta companies in knowledge-based industries including: information and communications technology, energy technology, as well as life sciences, including agriculture and biotech. Accelerate Fund III is managed by Yaletown Partners with the support of The A100. Alberta Enterprise Corporation is Accelerate Fund III’s lead Limited Partner with a total of $15M invested into the fund. www.acceleratefund.ca
Accelerate Fund III
Claudia @ materialinsight.com