California, United States, July 07 — Onyx, a Microsoft growth platform for Microsoft Managed Service Providers (MSPs), today announced it has closed its first funding round, a multi-million dollar raise led by Triple Point. The investment is a vote of confidence in Onyx's mission to help Microsoft partners change the way they operate and scale CSP revenue. The funding will accelerate the company's already-growing global presence over the coming years as MSPs move to capture one of the largest shifts in revenue the channel has ever seen.
As Microsoft evolves its partner programs, the Cloud Solution Provider (CSP) model is becoming the hero motion for most customers moving off legacy Enterprise Agreements (EAs). Partners will be rewarded for driving customer growth and adoption more than ever. Based on market estimates, the CSP landscape could reach as high as $147 billion by FY28, driven by EA-to-CSP transitions and all-up global growth in Microsoft consumption that increasingly skews toward CSP.
This movement of the market underscores Onyx's core proposition: MSPs already own the relationship and the value-add for end customers. Now, they have the right to own the transaction, too.
Historically, the deepest licensing expertise, pricing confidence, and deal-management capacity sat with the largest resellers. Onyx is changing that with the CSP Growth Engine. The platform puts the playbooks, margin levers, and customer motions used to build the world's largest Microsoft transactional partner into one platform - available to MSPs everywhere to help them automate their CSP growth motion and win.
Turning Tenant Intelligence into Profitable Deals
Onyx's CSP Growth Engine combines 3 smart hubs into one platform:
Deal Hub automates the entire CSP sales process, connecting directly to a customer's Microsoft tenant and generating accurate, insight-led M365 and Azure proposals in minutes, complete with automated calculations of rebates, incentives, and MCI funding availability. What used to take specialist teams days now takes hours. Partners using Deal Hub report 17x faster proposal delivery, a 30% uplift in CSP deal profitability, and an average ROI of 340%.
Support Hub gives MSP teams on-demand access to the world's most comprehensive Microsoft licensing knowledge base, combining the speed of AI with human expert quality assurance, so every customer query is answered accurately, instantly, and at scale, without adding specialist headcount.
Expansion Hub automates the post-sale growth motion, continuously surfacing upsell, cross-sell, renewal, and Microsoft funding opportunities across a partner's entire CSP portfolio, turning scattered signals into structured, repeatable campaigns.
Market Reception and Microsoft Alignment
The reception has been immediate. Partners using CSP Growth Engine have already turned days of platform usage into seven-figure outcomes. In one case, an MSP identified a $1M opportunity in a two-hour session and closed an $880K Azure CSP renewal within two weeks, opening three additional workstreams that didn't exist before the review.
Critically, Onyx's approach is designed to help partners grow with Microsoft, not around it. Rather than simply moving customers from one contract vehicle to another, the platform helps partners right-size licensing, uncover and displace third-party tools, attach services, and surface funding. This drives deeper Microsoft adoption while making customers healthier, and partners more profitable. The result is a motion where partners, their customers, and Microsoft all win from the shift to CSP.
The Microsoft ecosystem is entering its next major growth phase, and partners have a limited window to scale their CSP and services businesses exponentially. Most don't yet have the tools or the confidence to seize it.
We built the CSP Growth Engine to give partners the automation to move faster, improve margin, and uncover upsell, incentive and service attachment opportunities to deliver greater customer value at scale.
Triple Point has been aligned with that vision from day one, and their backing gives us the platform to accelerate our global growth and help more partners win in this next wave of the Microsoft market.
— Neil Lomax, Co-Founder, Onyx
There's a market reset happening right now in the Microsoft eco-system. As Microsoft shifts to a CSP-centric hero motion, partners are no longer just selling licences. They're driving the adoption, the support experience and the services opportunity that comes with it.
We created CSP Growth Engine to help them win that opportunity, with the intelligence, automation and expert backing to deliver customer value at scale. Triple Point's backing gives us the platform to scale that mission globally.
— Chris Brown, Co-Founder, Onyx
Undeniable Impact in the Market
Triple Point backed Onyx on the strength of a platform that was already delivering results, and an expert team with the pedigree to meaningfully scale it.
At Triple Point we're looking for exceptional people with a unique insight into markets that matter. When we connected with the Onyx team, we knew they had something special in CSP Growth Engine:
A platform that works, with undeniable impact in the market, and a world-class team of experienced experts to back it up.
When the team that built the largest Microsoft transactional partner in the world decides this is a problem worth solving, you pay attention. We're excited to partner with Onyx and support their growth acceleration over the coming years.
— Jamie Tomalin, Partner, Triple Point Ventures
Fueling the Next Phase of Growth
The new funding will accelerate Onyx's global expansion, growth that's already underway with operations in Canada, South Africa, and the Nordics alongside the existing core markets in the United States and United Kingdom. The investment will support continued platform development, deeper Microsoft program alignment, and the expert program-management teams that Onyx pairs with the platform to coach partners through winning, pricing, and structuring deals.
About Triple Point
Triple Point Ventures is a UK venture capital investor backing high-growth companies with world-class teams and market-leading products. It typically invests at pre-seed and seed stage, taking a challenge-led approach to founders solving real problems for established businesses, and is the venture arm of Triple Point, an investment management group that manages over £3billion in assets across venture capital, private credit, infrastructure, and real estate. Learn more at triplepoint.co.uk.
About Onyx
Onyx is the complete CSP growth platform for Microsoft partners to win, manage, and grow their CSP business. Built by the team that helped scale the world's largest Microsoft transactional partner, spanning 20+ years in the channel and $35bn in Microsoft revenue, Onyx encodes that experience into the CSP Growth Engine.
Through its three hubs, Deal Hub, Support Hub and Expansion Hub, Onyx turns live tenant intelligence into customer-ready proposals and value assessments, automates incentive and MCI funding discovery, unlocks data-driven upsell and services opportunities and helps partners scale license support delivery without adding headcount. The platform is Microsoft Co-Op funding eligible, making it available at net-zero cost to MSPs.
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