Lemongrass Secures $10 Million Series C Financing Round Led by Blue Lagoon Capital
Posted 14 January 2020 by Mike Rosenbloom
Global SAP® on AWS® services firm announces infusion of experienced board members and leadership team to bring renewed commitment to strategic vision and accelerate sales, marketing and execution of aggressive product roadmap.
Lemongrass Consulting, the leading professional and managed service provider of SAP enterprise applications running on AWS hyperscale cloud infrastructure, today announced it has completed a $10 million Series C round of financing. Blue Lagoon Capital led the investment round with participation from existing investor Columbia Capital. The investment brings Lemongrass’s total funding since launching its services to $29.3 million and will enable the company to build out its senior leadership team, broaden and accelerate product development, and aggressively expand its sales and marketing efforts.
Lemongrass, founded in 2008 by Eamonn O’Neill and Walter Beek, is recognized as the leading professional and managed service provider focused solely on the complex task of running SAP on AWS. The company provides end to end support for the entire client lifecycle spanning discovery, landing zone build-out, workload migration and implementation at scale, and ongoing operational services. Additionally, the company has developed a cloud management platform which is widely recognized as the most sophisticated set of purpose-built tools to facilitate the migration of SAP to the AWS cloud, and to support the on-going operation of the resulting SAP on AWS environments. Automation includes a full suite of migration, build and steady-state run services, self-service deployments and self-healing capabilities.
Lemongrass works with leading enterprises, across multiple verticals in the Americas, EMEA and APAC. The company has been working with AWS since 2010, is a Premier APN Consulting Partner, was the second company globally to achieve the SAP on AWS capability and was just recently awarded the coveted AWS Migration Competency award, in addition to the AWS Managed Services Competency award, in recognition of the thousands of SAP systems that they have migrated with a 100% success rate.
“Lemongrass is an exceptional company. The magnitude of their vision and the quality of their solutions positions them well to dominate the SAP on AWS growth market,” said Rodney Rogers, Co-founder and General Partner, Blue Lagoon Capital. “We could not be more delighted about this investment.”
In addition to the investment, Rogers will join Lemongrass as Chairman of the Board. Rogers is an expert technologist with more than 30 years of success in the technology services industry, recognized most recently for his leadership as Virtustream’s co-founder and CEO, a technology startup that achieved a billion-dollar+ valuation through its acquisition by EMC in 2015. Also, new to the Board is Kevin Reid, co-founder and CTO of Virtustream and co-founder and General Partner at Blue Lagoon Capital. Kevin is a technology entrepreneur with over 30 years of experience creating software-enabled solutions that deliver efficiency, enable innovation and drive superior financial results for enterprises worldwide.
The company also announced new appointments to round out the global management team and bring aboard the additional experience needed to support Lemongrass’s next era of growth and maturity.
Mike Rosenbloom joins the company as the Group CEO. Mike has over 25 years in IT Leadership and comes to Lemongrass from Accenture where he was Managing Director for the company’s Intelligent Cloud & Infrastructure business.
Walter Beek, previous Group CEO of Lemongrass, will continue with the company in the role of Co-founder & Chief Innovation Officer and will focus on his passion for driving the innovation agenda for the company’s services and the Lemongrass Cloud Management platform.
“These are exciting times for Lemongrass and the momentum we have in our business is evident.” said Beek. “Our business has ambitious goals to pursue and achieving them will require immense skill, rapid growth and scale, and collaborative leadership. The addition of Rodney, Kevin, Mike and the rest of the new executives to our current accomplished team marks an important milestone in Lemongrass’s evolution. I’m confident we will grow faster, innovate as never before, and truly differentiate ourselves in this market.”
Other new leaders joining Lemongrass’s executive leadership team at this time are:
Mike Provenzano, Chief Financial Officer • Mike has over 25+ years of high-tech and software executive experience providing strategic, financial and operational leadership to both public and private companies at various stages of their development. Prior to Lemongrass, Mike was CFO of Virtustream, a cloud services and software provider.
Lisa Desmond, Chief Marketing Officer • Lisa brings 20+ years of experience in global IT marketing creating and operationalizing marketing visions for entrepreneurial tech businesses. Lisa was most recently CMO for Beep, an autonomous mobility solutions company, and before that, she was the CMO of Virtustream.
“The most exciting days for Lemongrass are ahead. This is a remarkable team and I am honored to be a part of this journey,” said Mike Rosenbloom, Lemongrass’s new CEO. “This latest funding and the strategic addition of these key leaders will drive exponential growth, enable strategic investments ‘ahead of the curve’, increase operational discipline, and inspire our team to be the absolute best as we execute on our commitments to our customers, partners, and investors.”