![]() Then in April of this year, Thrive purchased BizCompass of Maine. Last October, Thrive bought Precision IT of New York, which gave it a much larger footprint in the nation’s financial-services capital. “Rob has brought vision, process excellence and industry support to the company.”Īmong other things, Stephenson, who has been with the company since 2015, has helped refine Thrive’s go-to-market strategy and complete select acquisitions. “I don’t think you could have picked a better executive to run Thrive than Stephenson,” says Lippie. Between 20, Lippie served as president and CEO of Thrive, which is an important Kaseya partner today. “After scratching around and trying to define its distinct market proposition, Thrive has found its stride and then some,” says Jim Lippie, general manager of cloud computing at Kaseya. Recall, Thrive has been acquired by Staples (2006), purchased by telecom provider MetTel (2014) and bought by M/C Partners (2016). ![]() The company’s go-to-market strategy is underpinned by choice acquisitions, clever financing and hard-fought lessons. Thrive today offers everything from hosting to DevOps to managed services to advanced security. This is a purpose-built technology services provider that offers all the capabilities of a large, global services provider and the customer intimacy of a local IT outsourcer. To make the most of its opportunity, Thrive is building out a new kind of organization. While many smaller, local MSPs can’t meet their digital-transformation ambitions, numerous global providers can’t affordably service their needs. These customer organizations, which typically employ between 100 and 2,000 employees, have regulatory needs, technological ambitions and cybersecurity exposure, among other things. Between these two distinct customer segments is a vast opportunity known as the midsize enterprise market, where hundreds of billions of dollars information and telecommunications (ICT) goods and services are up for grabs annually. Where Thrive really shines is the sizable and profitable market sweet spot that lives between the SMB space and the Fortune 500 enterprise segment. More than half of Thrive’s client revenue comes from private-equity companies, hedge funds, venture capitalists and alternative-investment organizations. Thrive provides outsourced IT support and services to midsize enterprise customers that focus on financial services in New England and the mid-Atlantic. ![]() The Foxborough, Massachusetts, company is an MSP with a vertical market, geographic and customer-segment focus. If you’re not familiar with Thrive, here’s some background. Thrive is only too happy to accommodate them. If we don’t make appropriate investments we are crazy.’” “I think over the last 12 months, CEOs, CFOs CIOs have begun to say, ‘Gee, this could be the single biggest threat that is facing our business. ![]() In 20, everyone talked about cybersecurity, but no one did much about it from an IT budgeting perspective,” says Thrive CEO Rob Stephenson. “Over the last 36 months, we have seen threats escalating at nearly biblical proportions. 41 on the 2018 MSP 501 list of the world’s most advanced managed service providers. If you said “security,” then you have a good window into the world of Thrive Networks Inc., No. What do you think would be the fastest growing part of your business today? Imagine you’re a top 50 MSP 501 company that caters to financial services firms that need exacting vertical market expertise, comprehensive insights on regulatory compliance and superior technological integration and development skills. **Editor’s Note: Click here for the list of the companies that comprise the Channel Futures 2018 MSP 501.**
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