Carma, an innovative network and digital infrastructure platform that serves data centers, fiber carriers, and network operators, announced today that it has secured a strategic investment from M33 Growth, a Boston-based venture and growth stage investment firm. The investment is intended to accelerate Carma’s product roadmap and expand its engineering, implementation, and go-to-market teams.

Founded by brothers Frank and Joe McDermott in Denver, CO, Carma, Inc. has spent a decade building an innovative quote-to-cash platform for digital infrastructure. Carma provides one data model that connects CPQ, ordering, inventory, design, provisioning, service, maintenance, and billing, so orders move faster and revenue stops slipping between systems, resulting in significant increases in revenue and customer satisfaction for Carma’s customers.

More specifically, Carma links digital infrastructure operators’ physical assets (space, power, cross-connects, dark fiber, virtual network services, etc.) to the commercial layer of contracts, services, SLAs, and billing that operators sell to their customers. This linkage replaces the patchwork of horizontal software, point solutions, legacy systems, and spreadsheets that many operators run today, offering a single source of truth over what they own, what is available to sell, and how each asset flows into commercial operations.

“Frank, Joe, and the Carma team have built an incredibly differentiated platform on the back of deep domain expertise and years of learning inside some of the largest operators in the world. We are excited to partner with the team and support the next phase of growth,” says Kara Hollis, Executive Director at M33 Growth.

As part of the investment, Ryan Kubacki will join Carma as Chief Executive Officer. Ryan previously served as CEO of Contruent, an M33 Growth portfolio company, where he led significant growth in the business culminating in The Riverside Company’s investment in Contruent in November 2025. Prior to that, Ryan was the Chief Revenue Officer of Flexera, where he was part of the leadership team that doubled the valuation in three years and was acquired in 2020 by Thoma Bravo for $2.9B. Ryan started his career at Microsoft.

Frank and Joe McDermott, Carma’s Co-Founders, will remain heavily involved in the business, continuing to work closely with customers and prospects.

“When Joe and I started Carma, we set out to solve a real problem addressing the fragmented, brittle software stacks that digital infrastructure operators run their businesses on today. Over the past several years, we have earned the trust of some of the most sophisticated operators in the world,” said Frank McDermott, Founder of Carma. “We’re thrilled to partner with M33 Growth and welcome Ryan Kubacki as CEO to help us build on that foundation and scale Carma into the operating system of choice for the entire digital infrastructure industry.”

“We believe Carma has a rare combination of a differentiated product, deep customer trust, and a market moving in its direction,” said Ryan Kubacki, incoming CEO of Carma. “I’m energized to work alongside Frank, Joe, and the entire team to build on what they’ve created and take Carma into its next chapter, starting with continuing to increase value to our amazing customers. LET’S GO!!!”

ABOUT CARMA

Carma, Inc. is an innovative AI-fueled network and digital infrastructure platform across the data center and telecommunications industry. Carma’s industry-focused solution aggregates over two dozen functions into one system, making it the foundational AI platform for the industry—from hyperscale data centers, edge data centers, fiber networks, subsea, towers, and more. Founded in 2016, Carma has grown to have a global reach with headquarters in Denver, CO. To learn more about Carma, please visit carma.net or follow us on LinkedIn.

ABOUT M33 GROWTH

M33 Growth is a venture and growth-stage investment firm that partners with founders and CEOs who have successfully bootstrapped their companies to strong growth and are positioned to rapidly scale their companies and break through as market leaders. With deep experience fueling sales and marketing engines, driving acquisitions, and building value through data assets, M33 Growth seeks to propel portfolio companies to succeed in their markets. Founded by veterans of renowned investment firms with considerable operational experience, the Boston-based firm seeks to invest in companies in the software, healthcare, and services sectors throughout North America. Learn more at www.m33growth.com.

Media gallery

About The Author
Business Wire