Venture capital, MSP, Content

Lee Fixel, Venture Capitalists Invest In MSP Software Startup


Several venture capital market makers -- including former Tiger Global Management investor Lee Fixel -- are now backing MSP software startup, the technology company disclosed this morning.

Lee Fixel, venture capitalist, Addition
Arvind Parthiban, co-founder & CEO,

The details: has raised $14 million in Series A funding -- led by Addition and Tanglin Venture Partners. Fixel is the driving force behind Addition -- a venture firm that began building a $1.5 billion fund around October 2021, according to a regulatory filing. Additional investors in the round include Matrix Partners India and Elevation Capital, as well as multiple angel investors., co-founded by Jayakumar Karumbasalam and Arvind Parthiban, develops a cloud-based professional services automation (PSA) and remote monitoring and management (RMM) platform for MSPs. Among the major priorities for the funding: Expanding the platform with more artificial intelligence (AI) capabilities to help MSPs further automate customer onboarding, help desk services and other daily tasks. Moreover, will continue to invest in its global go-to-market strategy with MSPs. One recent move involved hiring Mark Crall to drive U.S. partner engagements. enters a growing -- but highly competitive -- market. Entrenched companies include ConnectWise, Datto, Kaseya, NinjaOne and N-able and others. Upstarts include Atera, Syncro MSP and many others. CEO Explains MSP Software Strategy CEO and co-founder Arvind Parthiban explained the business strategy in this December 2021 ChannelE2E podcast:

Video link Funding: Executive Perspectives

In a prepared statement about the Series A funding, Fixel said:

We’re excited to support as they bring about a much-needed change in the MSP space, a field that has not yet benefited from the pace of technological innovation seen across most other industries.’s vision of bringing AI and automation to MSPs is being driven by an impressive and solutions-focused team, and we look forward to partnering with them as they lead the digital transformation of the MSP market."

Tarun Davda,

Added Tarun Davda, managing director at Matrix India:

Arvind and Jayakumar are experts on the MSP market and over the last few months, the team has built a category redefining product with exciting customer feedback. We're delighted to be doubling down on our investment in as they transform how MSPs operate and welcome Addition and Tanglin to the partnership.”

Concluded Akarsh Shrivastava, principal at Elevation Capital:

"PSA and RMM software form the backbone of MSP operations. Current products used by IT MSPs were created years, if not decades, back. has reimagined these products for MSPs, which not only make it extremely easy and seamless for MSPs but also equips them to handle challenges that come with tailwinds like cloud migration and remote work. We have always been fascinated by Arvind and Jay’s understanding of the space and the team they have built. Super excited to double down on our partnership.”

Side note: The funding surfaces just as kicks off a virtual SuperSummit event for MSPs.

Joe Panettieri

Joe Panettieri is co-founder & editorial director of MSSP Alert and ChannelE2E, the two leading news & analysis sites for managed service providers in the cybersecurity market.