Sherweb Raises $125 Million in Growth Funding
Sherweb, a cloud marketplace distributor based in Sherbrooke, Quebec, has announced the successful raising of $125 million in a growth funding round. This investment marks the company's first external funding and is led by Investissement Québec. Sherweb specializes in offering managed service providers access to cloud distribution, expert guidance, and technical support to help them achieve their business goals.
Investment Details
The funding round, completed on March 25, 2026, was led by Investissement Québec. The investment includes $49.9 million from the Government of Québec’s Fonds pour la croissance des entreprises du Québec. This financial backing is set to aid Sherweb in accelerating its global expansion strategy.
Company Background
Founded in 1998, Sherweb has grown significantly, supporting over 7,500 partners across Canada, the United States, Ireland, and the United Kingdom. These partners collectively serve more than 100,000 organizations worldwide. The company's platform enables partners to streamline technical complexities and expand their Microsoft cloud capabilities.
Strategic Use of Funds
Sherweb plans to utilize the new capital to drive organic growth and pursue strategic acquisitions. The funding will also be used to expand Sherweb’s cloud marketplace platform and enhance its portfolio of services. This move positions the company to meet the increasing global demand for cloud and managed services, driven by advancements in artificial intelligence and cloud technologies.
Leadership and Vision
Matthew Cassar, Co-Founder and Co-CEO of Sherweb, expressed optimism about the new partnership, stating: "We are proud to welcome Investissement Québec as our new partner as we advance our global expansion strategy." This sentiment reflects Sherweb’s commitment to building on its recent acquisition of MicroWarehouse, facilitating its entry into the European market.
Peter Cassar, another key figure in Sherweb's leadership, continues to steer the company as CEO.
Support and Advisory
The transaction was supported by National Bank Financial Inc. as financial advisor and Osler, Hoskin & Harcourt LLP as legal advisor, ensuring a smooth execution of the funding process.
Impact on Québec's Tech Ecosystem
Investissement Québec’s involvement is part of a broader effort to strengthen the technology ecosystem in Québec. By supporting Sherweb’s growth ambitions, the investment aims to contribute to the economic vitality of the Estrie region, where Sherweb has been established for nearly three decades.
Sherweb's new funding marks a significant milestone as the company looks to expand its influence in the global cloud services market, leveraging its expertise to support partners worldwide.