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Kaseya-Pulseway Ownership: The Rumored Timeline

Rumors about Kaseya owning Pulseway have triggered more chatter. To understand the chatter, we’ve organized the info into this quick timeline…

  • 2013: Insight Venture Partners, a private equity firm, acquires Kaseya.
  • 2015: Kaseya names Fred Voccola CEO.
  • 2016: Somewhere around this time, sources say, Insight Venture Partners invested in MMSoft — which is ultimately the same company as Pulseway, sources allege. But the investment was never publicly disclosed, the sources add.
  • 2017: Somewhere around this time, Insight invested in IT Glue. That investment wasn’t disclosed until late 2019.

When Insight Venture Partners (directly or via Kaseya) makes an undisclosed investment, the deal typically includes a non-disclosure agreement — which means all parties at the table often have a gag order, and can’t talk about or even confirm the financial relationship, sources say.

Undisclosed Investments: Good Business or Cause for Concern?

The approach has triggered some concerns in the MSP software market.

  • On the one hand, Kaseya has successfully stabilized its business since 2015 and returned to growth mode. That’s certainly good news for the company’s MSP partners. Plus, companies like IT Glue successfully built Switzerland-like relationships with many of Kaseya’s rivals in recent years. Those third-party integrations have also helped thousands of multi-platform MSPs.
  • But on the other hand, Insight’s investment in IT Glue (undisclosed for two years until 2019) and alleged investment in MMSoft (still unconfirmed) have raised concerns among Kaseya’s rivals. Some of those rivals are quietly calling on ISVs to disclose their ownership and funding status before entering partner deals going forward. The key concern: Making sure shared customer and partner data doesn’t potentially wind up in rivals’ hands.

Neither Kaseya nor Pulseway have publicly commented on the alleged business relationship. Pulseway develops RMM (remote monitoring and management) software and also promotes a PSA (professional services automation) offering. Some sources suggest the Pulseway PSA tool is based on Kaseya’s Vorex acquisition, though Pulseway has indicated to some partners that it built the PSA system from scratch.

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5 Comments

Comments

    Rob Freeborn:

    You don’t *really* need to say “sources allege” – just got to the website and (at least in Chrome) the URL renders as “Pulseway (MMSoft Design)” and the contact page has MMSoft Design on the bottom.

    The way it’s written makes it look a touch more nefarious then it really is.

    Joe Panettieri:

    Rob: Good, accurate point. Thanks.
    -jp

    Stephen Duckworth:

    For anyone interested, if you check Duedil.com (https://www.duedil.com/company/ie/496063/mmsoft-design-limited/directors) or the UK companies house website, you can see that Mihalec and his wife resigned as directors of the company on 15th December 2015. Since that date all the directors have been Kaseya employees.
    All of this is in the public domain and easily confirmed. Kaseya have owned and controlled Pulseway for the past 3 years and provided a white labelled version of Vorex for their use, actually at a different price point to those buying it from Kaseya directly..

    Joe Panettieri:

    Hi Stephen: Thank you for the note, the link and the context. I appreciate it, as do our readers.
    Readers: ChannelE2E has not confirmed the accuracy of the link that Stephen shared.

    Best,
    -jp

    Kevin:

    kaseya owns pulseway. a simple tip – look up for pulseway sales people that you are talking to on Linkedin. None of the names of Pulseway sales guys are original. They are Indians using English/American names.

    They operate frm the same office building somewhere in India. Trace their IP. You will know !

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