Bluewave Announces a Growth Investment Led by Columbia Capital
Growth investment will accelerate enhancements in client success approach and acquisitions
PARSIPPANY, N.J.– (February 1, 2022) – Bluewave Technology Group (“Bluewave”), an innovative, high-growth technology advisory and lifecycle management company, today announced an initial capital raise of $75 million led by Columbia Capital. Bluewave has accelerated its growth with five acquisitions completed over the past five months and is now one of the largest technology advisory businesses in the U.S., serving over 1,000 customers. 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.
“We are proud to partner with Columbia Capital who understands the opportunity and growth potential for Bluewave. 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,” said Seth Penland, CEO of Bluewave. “By adding the right people, technologies, and expertise, we’re creating a collective genius that provides our clients with peace-of-mind that they are in the best hands with Bluewave.”
Columbia Capital is a sector-focused investment firm with investments in enterprise IT, digital infrastructure, and mobility for over 30 years. This investment will accelerate Bluewave’s pursuit to create the industry leader in technology lifecycle management and accelerate its inorganic growth plans.
“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.”
Bluewave was purpose-built to help clients optimize their technology infrastructure, providing an efficient path to manage the entire lifecycle from purchasing through technology expense management (“TEM”) with four key services practices: Technology Evaluation, Strategic Sourcing, Expense Management, and Operations Support. Bluewave’s expertise encompasses legacy, existing, and emerging technology platforms.
“Most technology brokerages and agencies are only capable of delivering a limited number of the services clients need to truly operate and grow their businesses,” said Wayne Dietrich, COO of Bluewave. “We bring together experts from across technology and vertical disciplines and forge partnerships with proven cloud, network, security, and collaboration service providers to provide the best solutions for the entire technology lifecycle.”
About Bluewave Technology Group
Bluewave Technology Group (Bluewave) is a premier technology advisory and lifecycle management company with a comprehensive approach to optimizing clients’ ability to grow revenue, reduce costs, and improve efficiency. Bluewave streamlines the technology buying and management process for businesses of all sizes across the United States with four key services: Technology Evaluation, Strategic Sourcing, Expense Management, and Operations Support. Specializing in modernizing the IT and telecom infrastructure, Bluewave partners with proven cloud, network, security, and collaboration service providers to develop the best solution while maximizing the clients’ technology investment. Learn more at www.bluewave.net
About Columbia Capital
Founded in 1989, Columbia has raised over $5 billion in fund commitments and invested in over 170 companies in the digital infrastructure and IT services sectors. For more information, go to https://www.colcap.com/