Sherweb, a cloud marketplace distributor, announced it has secured a $125 million minority equity investment from Investissement Québec, including $49.9 million from the Government of Québec’s Fonds pour la croissance des entreprises du Québec. The funding marks the company’s first external investment and is aimed at accelerating its global expansion strategy.
Founded in 1998, Sherweb has grown into a cloud distribution platform that provides managed service providers with tools, technical support, and expertise to scale their operations. The company enables partners to offload technical complexity, deepen their Microsoft cloud capabilities, and expand service offerings.
Sherweb currently supports more than 7,500 partners across Canada, the United States, Ireland, and the United Kingdom, collectively serving over 100,000 organizations worldwide. The company has also been expanding internationally, including its acquisition of MicroWarehouse, which marked its entry into the European market.
The new capital will be used to drive both organic growth and strategic acquisitions, expand Sherweb’s cloud marketplace platform, and enhance its portfolio of services. The company is positioning itself to capitalize on growing global demand for cloud and managed services, particularly as artificial intelligence and cloud technologies continue to reshape enterprise IT.
Investissement Québec’s backing also reflects broader efforts to strengthen Québec’s technology ecosystem, support innovation, and scale homegrown companies globally.
Support: The transaction was supported by National Bank Financial Inc. as financial advisor and Osler, Hoskin & Harcourt LLP as legal advisor.
KEY QUOTES
“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.”
Matthew Cassar, Co-Founder And Co-CEO, Sherweb
“Sherweb has developed an impressive platform and a disciplined approach that position the company well to continue expanding, both here and internationally. With this investment, Investissement Québec is fully playing its role by supporting the company in its growth ambitions, while contributing to the economic vitality of the Estrie region, where the company has been established for nearly 30 years.”
Bicha Ngo, President And CEO, Investissement Québec
“Artificial intelligence and cloud technologies are transforming the global economy. Québec must seize this opportunity to strengthen its digital capabilities and develop world-class companies here at home. By supporting Sherweb’s growth, we are helping a Québec-based technology leader scale internationally while contributing to innovation, productivity and the creation of high-value jobs in Québec. This is exactly how we build a strong and competitive knowledge economy.”
Jean Boulet, Minister Of Economy, Innovation And Energy, Minister Of Labour, Minister For Maritime Strategy, And Minister Responsible For The Mauricie Region
“As our MSP partners grow and evolve, so must we. This investment, the first of its kind for Sherweb, enables us to continue building a marketplace that empowers MSPs worldwide with the scale, tools and services they need to succeed.”
Peter Cassar, Co-Founder And Co-CEO, Sherweb
