Venture Capital

RPA Software and Hyperautomation for MSPs: ElectroNeek Raises $20M

ElectroNeek, a robotic process automation (RPA) software company, promotes hyperautomation bots for managed service providers (MSPs).

Cloud Software MSP Raises $10M In Funding

Terazo, a combination cloud software developer & MSP, raises $10 million from Tercera & Twilio. Terazo will pursue acquisitions.

MSP Software Funding: Launches RMM, PSA for MSPs raises $3 million in seed funding; beta tests MSP, RMM & PSA software platform. Founders tout Zarget, Zoho & Freshworks experience.

AWS Cloud Storage Alternative Wasabi Raises $112M

Cloud storage startup Wasabi, an Amazon Web Services (AWS) alternative, raises $112M Series C funding for channel partner, MSP & distribution expansion.

SaaS Security: MSP Opportunities, Challenges Explained

Multiple SaaS security software startups raise funding to safeguard Microsoft 365, Salesforce & more. Can MSPs monetize SaaS security? (Yes. Here’s how.)

Zoom Launches $100M Apps Venture Fund

Zoom Apps Fund is a venture capital fund for Zoom-focused technology startups & video application developers.

Druva Cloud Data Protection: Late Stage Funding Now, IPO Later?

Druva raises $147 million in late-stage funding. Cloud data protection & backup company valued at over $2 billion. Druva IPO speculation continues.

Accenture Makes Strategic Investment In Data Firm Arabesque S-Ray

Accenture’s most recent deal comes in the form of a strategic investment in German data provider Arabesque S-Ray.

JMI Equity Seeks Small B2B Cloud Software Company Investments, Acquisitions

JMI Equity Fund X seeks to invest in small B2B cloud software companies that have $10 million or more in annual revenues. TimelyMD, PointClickCare & Seismic Software investments confirmed.

MSP Funding: Electric Raises $40M for IT Support Software Development

Electric,​ an MSP with in-house software development, raises $40 million led by Greenspring Associates. Electric CEO Ryan Denehy explains what’s next.