Covestic, LLC
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Covestic, LLC - overview
Established
2001
Location
Kirkland, WA, US
Primary Industry
Outsourcing
About
Covestic, LLC is a provider of IT and digital solutions, specializing in cloud services and operational efficiency. The company focuses on enhancing customer experiences through innovative technology integrations. Covestic, LLC is an IT solutions firm based in Kirkland, US, founded in 2001. The company was acquired by Milestone Technologies Inc.
, a portfolio company of H. I. G. Capital, in December 2020.
The CEO is John Schaffer. Covestic, LLC offers a comprehensive suite of IT services and digital solutions tailored to enterprise clients. Their core offerings include cloud-native, API-first, and AI-powered solutions that facilitate seamless payment system integration, enhance digital operations, and improve customer experiences. Key services encompass Application Services, AI and Automation, Cloud and Infrastructure management, Project Management, along with specialized platform solutions using Salesforce and ServiceNow.
The company serves a diverse clientele across North America, Europe, and Asia-Pacific, focusing on enabling operational efficiencies and innovative applications. Covestic, LLC generates revenue through a structured model based on managed services, partnerships, and direct client engagements. Their transactional framework involves delivering customized IT solutions, often through subscription-based models, which provide ongoing support and service access to clients. Partnerships with technology providers like Salesforce enhance their offerings, allowing integrated solutions tailored to client needs.
Specific pricing plans are designed around individual contracts, reflecting the bespoke nature of their services, emphasizing operational excellence and scalability. In the upcoming period, Covestic, LLC plans to launch new cloud-natives and AI-centric products designed to enhance operational efficiencies. The company aims to expand its services into new markets, particularly in Europe and Asia-Pacific, by the end of 2022. The acquisition by Milestone Technologies in December 2020 will provide the necessary resources to support these initiatives and facilitate their growth strategy.
Current Investors
Milestone Technologies Inc.
Primary Industry
Outsourcing
Sub Industries
Offshore IT Services/IT Outsourcing
Website
www.covestic.com
Company Stage
Add-on
Total Amount Raised
Subscriber access only
Covestic, LLC - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on | Completed | Covestic, LLC | - |
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