Sherweb Raises $125 Million in Growth Round
Sherweb, a cloud distribution platform that offers managed service providers access to technical support and strategic guidance, has announced a significant funding milestone. On March 25, 2026, the company secured $125 million in a growth funding round, led by Investissement Québec. This marks Sherweb's first external investment, aimed at accelerating its global reach and expanding its service portfolio.
Investment Details
The $125 million investment includes $49.9 million from the Government of Québec’s Fonds pour la croissance des entreprises du Québec. This funding is intended to support Sherweb's ambitious growth plans, particularly in expanding its cloud marketplace platform and enhancing its service offerings.
Strategic Use of Funds
Sherweb plans to utilize the new capital to drive both organic growth and strategic acquisitions. The company has recently entered the European market through the acquisition of MicroWarehouse, and this funding will further support international expansion. The focus will be on scaling operations and broadening the capabilities offered to its partners, who currently number over 7,500 across North America and Europe.
Leadership Insights
Co-Founder and Co-CEO Matthew Cassar commented on the investment, stating: "We are proud to welcome Investissement Québec as our new partner as we advance our global expansion strategy. Our acquisition of MicroWarehouse marked a significant milestone with our entry into the European market, and we look forward to building on that momentum and accelerating our international growth."
Peter Cassar, the CEO, alongside Matthew, continues to lead the company from its headquarters in Sherbrooke, Quebec.
Market Position and Future Plans
Sherweb's platform is designed to help managed service providers offload technical complexity and enhance their Microsoft cloud capabilities. With the backing of Investissement Québec, Sherweb is well-positioned to capitalize on the increasing global demand for cloud and managed services. This demand is particularly strong as artificial intelligence and cloud technologies increasingly influence enterprise IT landscapes.
Advisory Support
The transaction was supported by National Bank Financial Inc. as the financial advisor and Osler, Hoskin & Harcourt LLP as the legal advisor, ensuring a smooth investment process.
This funding round not only represents a major step for Sherweb but also highlights Investissement Québec’s commitment to bolstering the technology ecosystem in Quebec and supporting local companies in their global growth ambitions.