Plymouth Ventures invests millions in Indy-based Kinney Group
Cloud solutions integrator Kinney Group, Inc. is getting a multi-million dollar infusion of capital in a growth financing round led by Ann Arbor, Mich.-based Plymouth Ventures. Kinney Group counts Global 2000 public companies, IT-centric mid-market companies, and US Public Sector organizations among its clients, including being a leading integration partner for next-generation platform providers like Splunk, AppDynamics, and VMware.
Kinney Group posted double-digit growth each of the last three years and it was exactly a year ago November that the company publicly announced plans to invest $5.8 million to renovate its Indianapolis headquarters and add up to 89 new high-wage jobs. The new investment will be used to continue and accelerate growth. Read our “Featured Company of the Week” story for more details on the company’s rise: Kinney Group is at the forefront of today’s ‘Gold Rush’.
“Kinney Group helps organizations harness the power of information technology in the cloud to make life better for their businesses, missions, and colleagues,” said Jim Kinney, CEO and founder of Indianapolis-based Kinney Group, Inc. “The investment from Plymouth will help us accelerate our company growth in delivering compelling capabilities in the areas of secure next-generation data center technologies, cloud computing, analytics, and data center automation. As well, we are looking to Plymouth to be an active strategic advisor to our team as we grow our business in both in the US and internationally.”
Earlier this year, Kinney Group earned a spot on the CRN Fast Growth 150 that recognizes the fastest growing US companies in the IT services sector. The company was also honored by Splunk as its 2016 Public Sector Professional Services Partner of the Year. Jim Kinney points to these awards and the company’s rapid growth and success as evidence that Kinney Group is a leader and go-to partner for navigating the “New IT of the 21st century.
Jeff Barry, partner at Plymouth Ventures, will join the Kinney Group board of directors as part of the investment from Plymouth’s $61 Million PVP Fund III. Barry also serves on the board of directors for Fishers, Ind.-based CloudOne, which is also part of the Fund III Plymouth Ventures portfolio.
“Kinney Group’s growth trajectory combined with its unique market position delivering value within the rapidly growing technology sectors tied to cloud computing and analytics makes it a great addition to Plymouth Ventures portfolio,” said Jeff Barry, partner at Plymouth Ventures. “Together, we have a significant opportunity to grow the company’s reach, customer base, and portfolio of offerings. KGI is poised to capture significant market share for its offerings, and Plymouth is excited about helping them get there.”