Amid heavy M&A activity in the MSP software market, NinjaRMM has preferred to grow and expand organically. And the strategy appears to be paying major dividends.
Initially a provider of RMM (remote monitoring and management) software for MSPs, NinjaRMM expanded into cloud-based backup and disaster recovery software in 2020, and is now preparing Ninja Ticketing for MSPs and IT support help desks.
Roll all of those in-house developments together, and NinjaRMM now ranks as an MSP software platform provider vs. established companies such as ConnectWise, Datto, Kaseya and N-able, and upstarts like Atera, Syncro and SuperOps.ai, among others.
NinjaRMM Organic Growth, Business Performance
Skeptical? Consider the latest NinjaRMM business milestones. In the last year, the company’s customer base increased by nearly 50 percent to more than 6,000 customers globally, and revenue has grown 75 percent year-over-year, NinjaRMM says. (Actual revenue dollar figures were not disclosed.) Some of those customer wins involve end-user IT departments, but the majority of NinjaRMM's business involves MSP engagements.
While many MSP software companies aligned with private equity funds, NinjaRMM tapped into Summit Partners' growth fund and raised $30 million in 2020. The funding, involving a minority stake in NinjaRMM, allowed the software company to focus on organic R&D (research and development), office expansion worldwide, and new hires such as Chief Revenue Officer Dean Yeck and Chief Technology Officer Shane Stevens.
Fast forward to present day. NinjaRMM now has roughly 320 employees, and the company expects to end the year with roughly 350 employees. Roughly 200 more employees are expected to join the company over the next year, NinjaRMM predicts.
On the office front, NinjaRMM recently relocated hits headquarters from California to Austin, Texas. The company also has key operations in Tampa, Florida and Berlin, Germany. The Berlin office serves as an EMEA (Europe, Middle East and Africa) headquarters, and NinjaRMM has localized its products and support teams for more than a dozen European countries, the company says. Key next moves include opening offices in London and Sydney, Australia sometime in 2022, the company predicts.
Ninja Ticketing: Open Beta Tests Begin
On the R&D front, a new software component called Ninja Ticketing is entering an open beta testing stage now. While full-blown PSA (professional services automation) software platforms include ticketing, CRM and marketing capabilities, Ninja Ticketing focuses on IT support automation for MSPs and IT departments. According to the software company:
- Tickets are automatically linked to their respective devices, end-users, and organizations.
- Users can create tickets when any of the platform’s highly configurable monitoring conditions are triggered and adjust ticket status, priority, and severity based on behavior.
- Event- and time-based ticket automation allow users to route tickets to applicable ticket boards for prioritization.
- An at-a-glance dashboard displays device health, performance, and ticket status at the global, organization, and individual device levels.
Pricing and general availability for Ninja Ticketing has not been announced.
NinjaRMM's Financial Model
Amid all that expansion and R&D work, ChannelE2E wondered: Does NinjaRMM need to raise more money to fund continued growth? The short answer is no, according to CEO Sal Sferlazza.
The $30 million in funding (from 2020) coupled with ongoing cash flow allows NinjaRMM to grow rapidly and organically, Sferlazza tells ChannelE2E. Still, the company keeps an open mind about potential funding if the right technology acquisition target or business need surfaced, Sferlazza says.
All that said, NinjaRMM's current business model appears to be scaling quite well.