Bluewave Technology Group harnessed an initial capital raise of $75 million led by Columbia Capital.
The growth investment was announced Monday.
The Parsippany-based technology advisory and lifecycle management company said it accelerated its growth with five acquisitions completed over the past five months and now serves over 1,000 customers.
“We are proud to partner with Columbia Capital, who understands the opportunity and growth potential for Bluewave,” Bluewave CEO Seth Penland said. “To date, we have completed several acquisitions to expand and bolster our service offering to our clients. With this investment, we’re continuing to move our business forward to provide a comprehensive set of solutions to meet clients’ needs,” Penland continued.
Bluewave will leverage this strategic investment to support its rapid growth strategy, fostering organic and inorganic growth as it continues to ramp its team, invest in systems and expand its service offering.
“As remote working environments, AI and enterprise security requirements drive changes in IT and communications solutions, Bluewave has swiftly become a market leader in the technology advisory services market sector,” said Evan DeCorte, partner at Columbia Capital. “We couldn’t be more excited to back the Bluewave team as they continue to scale the business.”