Insight Partners, the venture capital and private equity firm that owns Kaseya, has funded DoControl, a SaaS application and data security startup, MSSP Alert reported. Additional investors in the $30 million Series B round include CrowdStrike's venture capital arm.
DoControl will use the funding to accelerate R&D and to launch a national MSP partner program.
SaaS Application and Data Security Tools: DoControl, Augmentt and SaaS Alerts
DoControl's software can automatically identify, respond to, and remediate threats stemming from SaaS data policy violations, DoControl asserts. As a result, the software platform can "eliminate enterprise threats created by departing employees, third-party vendors, cross-team collaboration, and more," the company adds.
Potential DoControl rivals may include Augmentt and SaaS Alerts -- which already have MSP partner programs in the market. Moreover, both Augmentt and SaaS Alerts have seasoned management teams that deeply understand managed IT service provider (MSP) business models.
Indeed, Augmentt is led by CEO Derik Belair and Chairman Gavin Garbutt — two N-able veterans. Meanwhile, SaaS Alerts is led by CEO Jim Lippie, a veteran of Kaseya and Thrive.
Insight Partners Funding Backs Kaseya Buyout of Datto
Meanwhile, Insight Partners remains very active on multiple investment fronts. The private equity firm is the lead investor funding Kaseya's $6.2 billion buyout of Datto. Kaseya expects to finalize that deal in the second half of 2022. The resulting business will likely be valued at more than $8 billion, ChannelE2E believes.
Disclosure: Author Joe Panettieri is a member of Channel Angels, an angel group that invested in SaaS Alerts in 2021. He has no active involvement or insider knowledge of the business.
