Data Firm ConvergeOne Gets $30 Million Injection From Owner CVC

Cloud computing and networking firm ConvergeOne told investors it received around $29.6 million to shore up reserves from private equity owner CVC Capital Partners, according to people familiar with the financing arrangement.

The Bloomington, Minnesota-based company received a promissory note due in April 2026, about three months after its existing first-lien term loan due is set to mature, people familiar with the matter, who asked not to be identified because they’re not authorized to speak about it.

Representatives for ConvergeOne and CVC didn’t immediately respond to requests for comment.

ConvergeOne expects its revenue to rise to around $1.56 billion ...