LogicMonitor: MSP Monitoring Platform Attracts $130M Investment
LogicMonitor, which develops an IT infrastructure monitoring platform for MSPs, has received a $130 million investment from Providence Strategic Growth (PSG). LogicMonitor will use the money to fund global market expansion.
LogicMonitor has gained substantial momentum among midmarket MSPs that are seeking scalable, on-demand offerings that either complement or fully replace traditional RMM (remote monitoring and management) platforms. However, LogicMonitor generally does not position itself as an RMM offering.
While many RMM platform providers continue to focus on traditional server and PC management, LogicMonitor has pushed forward with deeper infrastructure monitoring for cloud, DevOps and other use cases.
Key company insiders like CEO Kevin McGibben and Andrew Morgan (manager, service provider and channel development) have influenced the MSP sector’s evolution for numerous years. True believers in the company include several very well-known MSPs — including:
- TekLinks, a Top 100 Vertical Market MSP for 2016;
- mindSHIFT, which just opened a new data centers;
- CWPS, which is storming the midmarket; and
- ANS Group, a well-known MSP and cloud specialist in Europe.
LogicMonitor has remained independent amid accelerating M&A across the MSP software sector — including SolarWinds’ recent buyout of LogicNow to form SolarWinds MSP (a combination of of LogicNow and N-able).