Sherweb Secures $125M to Fuel Global Cloud Marketplace Expansion

MONTRÉAL, QC – March 25, 2026 – Sherweb, a Québec-based cloud marketplace distributor, has successfully closed a $125 million minority equity investment led by Investissement Québec. The landmark deal, the first of its kind for the company, is poised to accelerate its international expansion and solidify its position as a critical partner for IT service providers worldwide.

The financing includes a significant $49.9 million contribution from the provincial government's Fonds pour la croissance des entreprises du Québec (FCEQ), signaling strong public-sector confidence in Sherweb's growth trajectory and its role in Québec's burgeoning technology sector.

Fueling Growth in a Surging Market

The investment arrives as the global market for Managed Service Providers (MSPs) is experiencing unprecedented growth. Businesses of all sizes are increasingly outsourcing their IT needs to navigate complex cloud environments and fortify their defenses against sophisticated cybersecurity threats. Market projections indicate the global MSP sector could soar to over $1 trillion by 2033, driven by these relentless digital transformation pressures.

Sherweb operates at the heart of this ecosystem, providing more than 7,500 MSP partners with the tools, software solutions, and value-added services needed to scale their operations. This new capital will directly fuel the company's ability to enhance its offerings and pursue strategic acquisitions, building on its recent entry into the European market.

“We are proud to welcome Investissement Québec as our new partner as we advance our global expansion strategy,” said Matthew Cassar, Co-Founder and Co-CEO of Sherweb. “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.”

This strategy targets the core challenges faced by MSPs today: the need for greater efficiency, deeper technical expertise, and a robust security portfolio. By offloading operational complexities, Sherweb allows its partners to focus on higher-value client work and strategic growth.

A Strategic Play for Québec's Tech Future

This funding is not merely a corporate milestone; it represents a strategic move by the Québec government to cultivate a homegrown technology champion with a global reach. Investissement Québec, the province's primary economic development agency, is tasked with stimulating innovation and supporting companies poised for international success.

The investment aligns perfectly with Québec's broader ambition to become a world leader in the digital economy. The province's tech ecosystem, valued at nearly $95 billion CAD, is already the fourth fastest-growing in the world, with particular strengths in artificial intelligence, cloud computing, and digital media.

“Sherweb has developed an impressive platform and a disciplined approach that position the company well to continue expanding, both here and internationally,” stated Bicha Ngo, President and CEO of Investissement Québec. She noted the investment supports the company's growth ambitions while contributing to the economic vitality of the Estrie region, where Sherweb has been a fixture for nearly three decades.

Government officials echoed this sentiment, framing the investment as a key component of building a competitive knowledge economy.

“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,” said Jean Boulet, Minister of Economy, Innovation and Energy. “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.”

More Than a Distributor: The Evolution of MSP Enablement

Founded in 1998, Sherweb has evolved far beyond a traditional distributor. The company has carved out a niche as a comprehensive business partner for MSPs, a model that has become increasingly vital as the IT landscape grows more fragmented and complex. Its cloud marketplace goes beyond simple software licensing, integrating a suite of value-added services including technical support, operational assistance, and cybersecurity expertise.

This integrated approach was recognized in 2025 when the company was named the Microsoft Canada Partner of the Year, a testament to its leadership within the Microsoft ecosystem and its commitment to partner success. With a team of over 1,000 experts, Sherweb currently supports partners across Canada, the United States, and Europe, who in turn manage the IT infrastructure for over 100,000 organizations.

“As our MSP partners grow and evolve, so must we,” said Peter Cassar, Co-Founder and Co-CEO of Sherweb. “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.”

A Calculated Strategy of Acquisition and Growth

The $125 million injection is set to supercharge a growth strategy that has been years in the making. Sherweb has a proven track record of strategic acquisitions designed to enhance its capabilities and expand its geographical footprint. The company’s acquisition of Dublin-based MicroWarehouse in late 2024 was a pivotal move, establishing a strong foothold in Ireland and the UK and serving as a launchpad for further European expansion.

Prior acquisitions have also been highly strategic. The 2021 purchase of Global Mentoring Solutions bolstered its white-labeled helpdesk and network operations center (NOC) services, while earlier acquisitions of Purely HR and C2 ITSM expanded its business transformation support capabilities. This disciplined approach to M&A focuses on integrating companies that add tangible value to its partner ecosystem.

With this new capital, Sherweb is now positioned to pursue larger and more ambitious targets. The funding provides the flexibility to acquire companies that can deepen its service portfolio, particularly in high-growth areas like managed security, or accelerate its entry into new international markets across Europe and beyond. This infusion of capital, combined with a booming market and a proven strategic model, sets the stage for Sherweb's next chapter of significant global expansion.