Deals

‘Halfway house’ for old-school IT systems backed by $12M

halfwayhouseAlong with Saved by the Bell and and leggings, the generation before now also worked with old IT systems.

To transition these companies into the new world of cloud-based operations, Fruition Partners has raised $12 million. FP assists companies with every step of the transformation process, from pre-discussions through implementation, platform development, management services, and training. It is an implementation partner of the cloud IT management service ServiceNow, which has experienced high-demand and also contributed to Fruition Partner’s growth.

In 2012, Fruition Partners signed on 150 new customers. Clients include Coca-Cola, General Electric, Delphi, Fox, H&R Block, Target, Tiffany & Company, Viacom, and Yale University. To remain cost-effective and efficient in the era of cloud computing, it is imperative they transition to more modern systems.

This first institutional round was led by Trident Capital, a venture capital and growth equity firm based in Silicon Valley. It will be used to accelerate growth and expand sales, marketing, and delivery efforts. Fruition Partners is based in Chicago.