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Investing in a better IT future.
M/C Venture Partners, a major venture capital firm with offices in Boston, San Francisco, and London, focuses primarily in the services sectors of communications, technology, and media. Typically the first institutional investor in their portfolio companies, M/C relies on their proven company-building expertise and deep domain expertise to deliver success and strong investment returns. With investments ranging from $5 million to $50 million of equity, M/C has a long-term track record of top quartile performance.
Maximizing investment returns is M/C’s business, so the decision to hire Coretelligent was driven by a familiar logic: they wanted a higher return on their IT investment.
“Coretelligent came highly recommended from another venture capital firm very similar to ours,” said M/C Chief Financial Officer Edward Keefe. “So we hoped they could help solve our problems in the same way.”
What were those problems? M/C wanted a more flexible, scalable IT infrastructure. They wanted a faster response, should technical problems emerge. They wanted a disaster recovery plan to increase business service continuity. And, above all, they wanted ongoing, trusted strategic guidance to help them evaluate new technology and service models as they hit the market, and thus distinguish real business value from baseless hype.
Almost immediately, the partnership seemed successful. “They came in the first day, assessed our current issues, and put together a white paper to sum up their recommendations and serve as a roadmap,” said Keefe.
“This ensured we were all on the same page about what our needs were—and what Coretelligent could do for us going forward, including a priority list and a logical sequence of steps to get us where we wanted to go.”
Strategy, execution, and ongoing guidance.
Following approval of the plan, Coretelligent’s execution was swift and effective.
Several of the company’s servers were virtualized to take advantage of automatic resource allocation and improved hardware utilization. Certain other servers were migrated to an offsite location to increase service availability and business resilience. The company’s messaging system, designed to keep team members in touch via diverse mobile device platforms, was enhanced. And a custom disaster recovery plan was created and implemented.
Today, Coretelligent serves M/C as its entire IT arm, reporting directly to the CFO and playing an ongoing role in assuring all IT services meet or exceed expectations whether the M/C team works onsite or offsite.
“What makes Coretelligent stand out is the way they’re focused on the overall outcome of driving business success through technology—not technology for its own sake,” said Keefe. “And they offer incredible attention to detail, excellent customer service. You get the sense they’re in this for the long haul. They’ll make the smart decisions, the right decisions to keep their clients happy.”
Higher service quality. Lower cost.
Based on the outcome they’ve experienced, M/C is certainly happy. All of their immediate technological concerns have been addressed. IT response time when issues emerge is much faster than before. Business services are now proactively protected via a disaster recovery strategy, and they now have a strategic partner they can trust to evaluate emerging technology and help them make suitable choices.
Final proof that Coretelligent was a wise investment comes from the fact that despite these many optimizations, M/C’s IT costs have actually fallen.
“In the first year, we expect our total IT budget to drop by 15% or so,” said Keefe. “That means Coretelligent is delivering amazing value. Which is why I’m already recommending them to other people.”