SuiteStars ERP nabs funding from Cesium, Formentera founders

SuiteStars ERP, a Montreal-based Oracle NetSuite and cloud consulting, managed services and implementation startup, has raised undisclosed financing.

SuiteStars ERP, a Montreal-based Oracle NetSuite and cloud consulting, managed services and implementation startup, has raised undisclosed financing. The investors are the co-founders of Cesium Telecom and Formentera Capital, a Canadian venture capital firm. Cesium and Formentera’s Sanjay Bakshani and Vicken Kanadjian will take seats on the board.

PRESS RELEASE

MONTREAL, Feb. 1, 2022 /CNW Telbec/ – Co-Founders of Cesium Telecom announce a new strategic investment partnership with Oracle NetSuite experts & cloud consultants SuiteStars ERP.

SuiteStars ERP was founded in October 2019 by Louis-Philippe Baillargeon, Rena Lakiss, and Henry (Minh Bao) Le, three partners and seasoned ERP experts at some of Quebec’s most prestigious technology consulting organizations. Co-Founder Henry Le had worked at Cesium under Kanadjian and Bakshani as Business Excellence Manager – and quickly made an impact.

“In the years he worked at Cesium, Henry was a game changer for our Oracle NetSuite environment,” said Kanadjian. “When he announced his decision to launch SuiteStars ERP with his two co-founders, we knew we wanted to be a part of it.”

Profitable since their founding days, SuiteStars’ team has grown to 10+ employees – a team of “elite” consultants – all of whom act as Subject Matter Experts on all-things-Oracle NetSuite to ensure their clients’ success. SuiteStars serves medium-to-large organizations with enough resources to invest in their processes and cloud infrastructure but who also retain a strong level of agility.

Armed with a unique structure for customer centricity and an entirely referral-based client roster, SuiteStars ERP continues to grow its dominant position as the “different” NetSuite consulting firm that stays small and moves fast.

Having grown by 3X in 2021, the team at SuiteStars ERP faced a challenge which many entrepreneurs face: rapid growth requiring a heightened level of strategic guidance.

“We came to a point in the growth of [SuiteStars ERP] when we realized we needed advisory over capital,” said Le. “Vicken & Sanjay were two of the most talented operators we knew. They showed an authentic, consistent passion to be part of our journey.”

Kanadjian & Bakshani, also co-founders and partners in Formentera Capital, a venture capital firm investing in technology-enabled companies that do good for the world, felt similarly.

“It’s a wonderful story for us (and for them) to have gone from former employee to investee,” said Kanadjian. “With Cesium, we are continuously supporting our employees’ sense of entrepreneurialism. While we never want to lose talented team members, we will always support their endeavors – and in this case in a more strategic capacity.”

When asked about investing in the venture of a former employee, Kanadjian was clear in his reasoning.

“Above all, the founding team at SuiteStars ERP lives and breathes our core values,” said Kanadjian. “They are committed, relentless entrepreneurs and we are aligned simply as people. It makes it easier and more exciting to collaborate when that alignment exists.”
While terms of the investment remain undisclosed, Cesium co-founders Kanadjian and Bakshani will serve on the Board of Directors for SuiteStars ERP, providing high-level strategy, support on operations, guidance and advisory.

For SuiteStars ERP, their goal of revolutionizing the Oracle NetSuite consulting business model is well on its way.

With expansion into proprietary products, increase of their position the North American market, and the launch of new professional services entirely unheard of in their industry, strengthening their unique value proposition, the future is bright for SuiteStars.
With Kanadjian & Bakshani on the Board of Directors, “partners for growth,” SuiteStars ERP’s byline, takes on an entirely elevated meaning.

About Cesium Telecom
In business since 2003, Cesium Telecom Inc. is one of Canada’s largest suppliers of consumer electronics, mobile products, and wireless accessories. An award-winning distributor for some of the technology world’s biggest brands, Cesium acts as a partner to Canada’s biggest retailers, helping them devise strategies for everything from brand development to marketing to supply chain and beyond.

About SuiteStars ERP
SuiteStars ERP is a fast-growing Montreal-based professional services firm acting as partners for growth to medium and large enterprises. SuiteStars ERP helps organizations scale their business with Oracle NetSuite expertise, providing elite NetSuite consulting, managed services and implementation.