A Charlotte-based software development company has used its recent capital raise to rebrand and launch a new platform.
TechGrid, formerly SecurEdge Networks, announced the rebrand and product launch today. The company said the $9.2 million Series A funding round it closed on at the end of 2023 will help scale its business automation platform. That round was led by Tampa, Florida-based investment firm Bellini Capital.
Philip Wegner, CEO and founder at TechGrid, said the company's rebrand comes after it evolved from operating as a tech service provider to building infrastructure for that client base.
"We needed a brand that reflected the new business model and mission," he told CBJ.
The company was founded in 2006 by Wegner. TechGrid, by leveraging its platform, connects businesses with information technology service providers and partners to help produce IT solutions. Its clients can sell, fulfill, manage and finance technology solutions under a single tool.
TechGrid's business automation platform also enables businesses to create a utility-like subscription for services they need, such as licensing, software, management tools, internet access and professional services.
"It’s an operating system built for tech service providers that combines a Shopify-like marketplace, digital workflows and commerce tools," Wegner said. "It’s designed to make it simple to run a tech services business and deliver a modern customer experience."
He told CBJ that businesses around the globe spend more than $3.6 trillion on IT products and services. And what's more notable, he said, is that's as the IT industry is transacting primarily offline. TechGrid aims to be a solution for the more than 331 million businesses operating worldwide.
"Our goal is to first help the tech service providers modernize the way they run their companies," Wegner said.
TechGrid's headquarters space is located in the Launch Factory at 2459 Wilkinson Blvd. The company opened the Launch Factory, a tech-focused coworking operation, in 2016 to bring those working in the technology industry together.
