The background: Mailprotector raised $5 million in March 2020 as part of an overall strategy to accelerate R&D and partner support for MSPs. The funding paved the way for multiple hires -- including Datto veteran Matt Scully as channel chief, and David Kelley as chief financial officer. The company also earned a patent for Bracket technology -- which has unique encryption, storage and transmission methodologies.
Fast forward to March 2022, and Joseph has arrived as CRO. Dig into his background, and Joseph has experience scaling businesses from $0 to $500 million, Mailprotector notes. That background includes experience at startup, public- and privately-held businesses -- including cloud- and technology-driven companies that lean heavily on MSP partners. Read between the lines, and it sounds like Mailprotector CEO David Setzer has found an executive partner to drive the business forward.
Mailprotector Hires CRO; Continues MSP Partner Push: Executive Perspectives
In a prepared statement about Joseph joining the business, Setzer said:
"Craig is the right leader for Mailprotector. His deep knowledge of MSP partners and their needs along with a demonstrated ability to scale organizations is a rare combination. Since we are a 100% channel-only company, having someone in this key role that truly understands our partners is an absolute must. His extensive channel background and business development skills will help Mailprotector strengthen our channel partnerships, develop strategic alliances and expand our international presence."
"I am thrilled to be joining the Mailprotector team. They have a fantastic product offering that meets a core cybersecurity need in a unique way, and I was blown away when I saw the upcoming technology roadmap. To add their dedicated partner-only focus to this made the match a no-brainer. The culture that David and this team have created was too irresistible. I believe Mailprotector is in a position to provide a cost-effective and timely suite of cloud-based cyber and email protection to help partners efficiently manage their clients' email protection and maximize their profitability. Today, we are the market's best-kept secret."
Cloud-based Email Security Market: Investor Activity
It sounds like Mailprotector remains in growth mode, but competition in the email security market remains fierce, and M&A activity remains strong. Example deals include:
- December 2021: Private equity firm Permira acquired email security company Mimecast for $5.8 billion.
- April 2021: Private equity firm Thoma Bravo acquired Proofpoint for $12.3 billion.
Thoma Bravo, in particular, has extensive experience backing MSP-focused software companies. The private equity firm's ownership and investment positions include Barracuda Networks, ConnectWise, N-able and Sophos, among others.
Still, Mailprotector aligns extremely closely with its MSP partners and has a pure MSP go-to-market focus. Where is the business heading next? We'll be seeking additional updates from Joseph and Setzer in the weeks ahead.