Venture capital, Angel investors, MSP, Content

MSP Software Funding: Launches RMM, PSA for MSPs

Share has raised $3 million in seed funding, and is now beta testing a cloud-based MSP software platform that features remote monitoring and management (RMM) and professional services automation (PSA) capabilities.

Jayakumar Karumbasalam, co-founder, CPO and CTO,
Jayakumar Karumbasalam, co-founder, CPO and CTO,

Co-founders Arvind Parthiban and Jayakumar Karumbasalam have experience in the IT automation market. Arvind created Zarget, a marketing automation platform that Freshworks acquired in 2017. Jayakumar has previously built out data platforms for Zoho, Optus, and Freshworks.

Elevation Capital and Matrix Partners India co-led the seed round, with participation from such angel investors as Kayako founder Varun Shoor. enters a growing but highly competitive market. Entrenched rivals include ConnectWise, Datto, Kaseya, N-able and NinjaRMM. Cloud-based upstarts in growth mode include Atera and Syncro, among others. Also of note: Tanium and Salesforce launched an IT Service Center platform with RMM capabilities in March 2021.

Still, believes it can disrupt the large, entrenched players because the startup built its RMM-PSA cloud platform as a single code base. (In some ways, that sounds similar to the Atera and Syncro strategies -- though we have not tested the products from each vendor.) Funding & MSP Software Beta Test: Executive Perspectives

Arvind Parthiban, co-founder & CEO,

In a prepared statement about the funding and platform launch, CEO and Co-Founder Arvind Parthiban said:

“MSPs are heavily dependent on the efficacy of PSAs and RMMs to enable a successful business run rate. As such, MSPs can benefit from implementing both tools and using them in conjunction. However, achieving this in a cost- and resource-effective manner isn’t straightforward.

Presently, MSP tools are siloed and becoming synonymous with decaying legacy software that hinders their growth. Some of the leading companies championing legacy software include Kaseya, Datto, Connectwise, and Solarwinds. Despite new startups emerging to disrupt the space, their products are focused primarily on catering to large MSP businesses leaving the smaller MSPs to dry.’s platform is tailored to cater to various segments of the MSP market and intends to build a truly unified PSA, RMM solution powered by intelligent automation (IA). Furthermore, helping MSPs with severalbenefits, including centralizing control, minimizing training requirements for technicians, and streamlining work processes among others will be key.”

Akarsh Shrivastava, VP, Elevation Capital
Tarun Davda, managing director, Matrix Partners India

Added Tarun Davda, managing director, Matrix India:

 “Several industries have adapted to a new way of working in 2020, as companies increasingly relied on managed services for their IT needs. The $300-billion MSP market has the potential for rapid growth and expansion, with the right tools, resources, and ideas. With its modern MSP platform, has a strong advantage in positioning itself as a leader, pioneering change in a market filled with legacy tools. We have been privileged to have partnered with Arvind previously for Zarget and are thrilled to partner once again as he embarks upon a new entrepreneurial journey!”

Concluded Akarsh Shrivastava, vice president, Elevation Capital:

“MSP software market is at an exciting inflection point. Challenges brought on by shift to the cloud, coupled with strong tailwinds of remote work and distributed teams, have pushed MSPs to adapt faster and become more productive and agile. will give small and mid-sized MSPs an easy-to-use, modern tool, which will not only allow them to be more efficient but also serve their clients better as they embrace the cloud era. Super thrilled to partner with Arvind and Jay as they disrupt this large legacy market.”

PSA and RMM Software: Mergers, Acquisitions and Investments

Investor activity in and around the RMM and PSA markets has remained steady to strong. For example:

Amid that backdrop, we'll be watching to see how potentially progresses from its beta stage to general availability and beyond.

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.