Chicago Cloud IT Services Company Announces $2.4 Million Series A Funding
ADAR IT, a Chicago-based cloud computing company has secured $2.4 million in Series A funding from MK Capital and engaged BOSI Global as an operating partner to build on 84% compounded annual growth and 97% customer retention.
CHICAGO, Ill., February 4, 2014-- ADAR IT, a Chicago-based cloud computing company has secured $2.4 million in Series A funding from MK Capital and engaged BOSI Global as an operating partner to build on 84% compounded annual growth and 97% customer retention.
ADAR IT is an innovative cloud IT services company bringing enterprise-level cloud solutions to small to medium-sized businesses. Each customer is set up with their own ADAR Private Cloud™ - so their entire IT infrastructure gets virtualized. Power outages and disasters affecting an office infrastructure no longer affect productivity or data security. Individuals can access their entire virtual desktop from anywhere with a high-speed connection - using even a tablet or smartphone. Customers pay a flat monthly fee to access this end-to-end technology on demand—from desktops, servers, and data storage—to unlimited technical support and IT consulting.
“We are a next-generation managed service provider that cares deeply about the customer experience,” says CEO and co-founder Vadim Vladimirskiy. “We bundle all of the IT services a business owner needs into a secure, sophisticated and reliable solution. One fixed monthly price covers all things IT.”
ADAR’s innovative delivery of IT services and fanatical customer service has led to rapid growth, customer churn of under 3%, and evangelist-like customers in the US, Europe and Asia.
“When I first met Vadim I was quite impressed with how he had built ADAR IT, with essentially no paid in capital, into a managed services provider with over 100 customers around the globe” says Bret Maxwell, General Partner at MK Capital, "and his vision for providing a state-of-the-art, cloud-based offering serving the small and medium-sized marketplace that was both cost effective and of high quality. As we learned more and conducted due diligence, we were even more impressed at the level of customer satisfaction - with many customers being almost evangelical in their praise for the solution. ADAR is offering a solution today for small and medium size enterprises that historically was only available to much larger entities at a significantly higher price point."
“Vadim is a smart, driven entrepreneur,” says Charlie McClary, CEO of BOSI Global - ADAR’s operating partner. “In a world where entrepreneurs chase Series A funding with marginal revenues and no profits, it is refreshing to see someone like him build a thriving high-growth company with substantial profits first. We’re energized to partner with him to take ADAR IT to the forefront of the managed services space.”
About ADAR IT
ADAR IT provides cloud-based IT solutions for small and mid-size businesses. IT services include server hosting, desktop hosting, network design and implementation, software licensing, network security services, local and off-site backup, ongoing network maintenance and support, disaster recovery systems, and consulting services. In addition, ADAR IT provides customers with a fully managed network migration service from traditional in-house IT systems to the cloud-based platform, giving small to mid-size businesses the same IT advantages enjoyed by Fortune 500 enterprises. For more information, visit http://www.adarit.com or call (877) 860-0700.
About MK Capital
MK Capital invests in early and growth stage companies in the software and digital media industries. The firm’s partners, who average over fifteen years of venture capital experience, partner with entrepreneurial management teams to build leading companies in emerging markets. MK Capital has deep domain expertise in the marketing, education and cloud infrastructure industries. The firm is headquartered in Chicago and has offices in Los Angeles and Ann Arbor. MK Capital manages over $250 million in capital and is actively seeking new investment opportunities. For more information, visit http://www.mkcapital.com or call (312) 324-7700.
About BOSI Global
BOSI Global serves as Operating Partner to venture-backed and privately held companies. The company is made up of successful entrepreneurs and corporate leaders with strong pedigree in high-growth operations across all areas of business. BOSI Global has offices across the US as well as in Singapore, Europe and Canada. For more information, visit http://www.bosiglobal.com or call (877) 264-2674.
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