About Velocity Technology Solutions
Velocity Technology Solutions is a company based in Charlotte (United States) founded in 2003 was acquired by Navisite in January 2021.. Velocity Technology Solutions has raised $46.5 million across 4 funding rounds from investors including Navisite, Tudor Ventures and Pine Street Capital Partners. The company has 285 employees as of April 08, 2024. Velocity Technology Solutions has completed 2 acquisitions, including Mercury Technology Group and RJ Thompson. Velocity Technology Solutions operates in a competitive market with competitors including 2nd Watch, Crayon, Megazone Cloud, All Cloud and Ukcloud, among others.
- Headquarter Charlotte, United States
- Employees 285 as on 08 Apr, 2024
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Sectors
Technology
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Velocity Tech-Sol India Private Limited
- Date of Incorporation 01 Aug, 2007
- Jurisdiction Pune City, Maharashtra, India
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Annual Revenue
$10.89 M (USD)20.56as on Mar 31, 2023
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Net Profit
$895.15 K (USD)66.73as on Mar 31, 2023
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EBITDA
$900.23 K (USD)-13.7as on Mar 31, 2023
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Total Equity Funding
$46.5 M (USD)
in 4 rounds
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Latest Funding Round
$80 M (USD), Debt – Conventional
Jun 01, 2011
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Investors
Navisite
& 2 more
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Employee Count
285
as on Apr 08, 2024
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Investments & Acquisitions
Mercury Technology Group
& 1 more
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Acquired by
Navisite
(Jan 06, 2021)
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Funding Insights of Velocity Technology Solutions
Velocity Technology Solutions has successfully raised a total of $46.5M across 4 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $80 million completed in June 2011. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Debt – Conventional — $80.0M
- First Round First Round
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2011 | Amount | Debt – Conventional - Velocity Technology Solutions | Valuation |
investors |
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| Mar, 2010 | Amount | Series B - Velocity Technology Solutions | Valuation |
investors |
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| Apr, 2007 | Amount | Series A - Velocity Technology Solutions | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Velocity Technology Solutions
Velocity Technology Solutions has secured backing from 3 investors, including venture fund investors. Prominent investors backing the company include Navisite, Tudor Ventures and Pine Street Capital Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Founded Year | Domain | Location | |
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Pine Street Capital Partners is engaged in mezzanine debt and equity investments.
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Founded Year | Domain | Location | |
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Managed cloud infrastructure and hosting services are delivered.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Velocity Technology Solutions
Velocity Technology Solutions has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Mercury Technology Group and RJ Thompson. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Core activities are undetermined due to limited available data.
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2015 | ||||
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Technology services and solutions are provided by the group.
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1993 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Velocity Technology Solutions
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Velocity Technology Solutions Comparisons
Competitors of Velocity Technology Solutions
Velocity Technology Solutions operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as 2nd Watch, Crayon, Megazone Cloud, All Cloud and Ukcloud, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Public cloud workload management tools and services are provided.
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| domain | founded_year | HQ Location |
Crayon is involved in unspecified business activities.
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| domain | founded_year | HQ Location |
AWS cloud services are provided, including consulting, deployment, and management.
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| domain | founded_year | HQ Location |
Services for the development and support of cloud-based applications
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| domain | founded_year | HQ Location |
Cloud services in PaaS, SaaS, and IaaS are provided.
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| domain | founded_year | HQ Location |
Cloud-based virtual classroom platform for enterprises
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Velocity Technology Solutions
Frequently Asked Questions about Velocity Technology Solutions
When was Velocity Technology Solutions founded?
Velocity Technology Solutions was founded in 2003 and raised its 1st funding round 2 years after it was founded.
Where is Velocity Technology Solutions located?
Velocity Technology Solutions is headquartered in Charlotte, United States. It is registered at Charlotte, North Carolina, United States.
Is Velocity Technology Solutions a funded company?
Velocity Technology Solutions is a funded company, having raised a total of $46.5M across 4 funding rounds to date. The company's 1st funding round was a Series A of $15M, raised on Nov 01, 2005.
How many employees does Velocity Technology Solutions have?
As of Apr 08, 2024, the latest employee count at Velocity Technology Solutions is 285.
What is the annual revenue of Velocity Technology Solutions?
Annual revenue of Velocity Technology Solutions is $10.89M as on Mar 31, 2023.
What does Velocity Technology Solutions do?
Velocity Technology solutions offers IT related services such as cloud hosting, application support, helpdesk as a service, remote applications, and other software services. The company claims to be an expert in Infor, Oracle, PeopleSoft, Taleo, JD Edwards, Hyperion, SAP, Epic, Kronos, QlikView. It serves defense, agribusiness, business services consulting, CPG, energy, engineering construction, financial services, healthcare, manufacturing distribution, private equity, public sector, retail.
Who are the top competitors of Velocity Technology Solutions?
Velocity Technology Solutions's top competitors include Crayon, Megazone Cloud and All Cloud.
How many acquisitions has Velocity Technology Solutions made?
Velocity Technology Solutions has made 2 acquisitions, including Mercury Technology Group, and RJ Thompson.
Who are Velocity Technology Solutions's investors?
Velocity Technology Solutions has 3 investors. Key investors include Navisite, Tudor Ventures, and Pine Street Capital Partners.
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