Managed Services Raises $12.4M for AI Investments

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Fresh off the news that its named channel icon Juan Fernandez as its new channel chief, announced that it has raised $12.4 million in Series B funding. That brings total funds raised to date to $29.4 million.

The funding round was led by Addition and March Capital, with participation from Matrix Partners India. is a cloud-based unified RMM/PSA (remote monitoring and management/professional services automation) platform for managed service providers (MSPs).

In addition to the funding round, also launched advanced network monitoring capabilities as part of its unified platform for MSPs. MSPs can register for early access of the new advanced network monitoring functionality here.

“The IT support landscape has been evolving rapidly and MSPs need to keep up to navigate this fast-changing world,” said Arvind Parthiban, co-founder and CEO of, in a prepared statement. “I am excited about the launch of advanced network monitoring as part of our unified platform, so MSPs can offer more services to their clients without adding on more tools. This is in keeping with our promise to MSPs that we will always listen to them, co-build with them, be transparent, provide them with first class support, not tie them down with contracts, and help them grow. Our goal is to keep developing our platform further so that it can keep supporting MSP ambitions as they take on increasingly complex IT challenges.”

With the proceeds of the fund raise, plans to increase its investments in further enhancing its AI capabilities.’s said its AI framework is advancing into a predictive intelligence layer that will not only help MSPs improve their efficiency but also move from solving client issues to pre-empting them, thus saving precious technician time and improving the quality of support. is also scaling partnerships with vendors in areas including cybersecurity, payments and data backup to ensure MSPs have 360-degree technology support. The company will also be investing in community-led initiatives aimed at helping MSPs in areas beyond technology.

While supports MSPs globally, it is committed to deepening its investments and on-ground presence in the U.S. and appointed Juan Fernandez as Channel Chief earlier this month. Fernandez will spearhead’s efforts to build more value for MSPs.

Fernandez is an experienced MSP industry leader, who built an MSP business worth $20 million in six years, before selling it. He is co-author of “The MSP Handbook,” and is also a member of the CompTIA North American Executive Council.

Jessica C. Davis

Jessica C. Davis is editorial director of CyberRisk Alliance’s channel brands, MSSP Alert, MSSP Alert Live, and ChannelE2E. She has spent a career as a journalist and editor covering the intersection of business and technology including chips, software, the cloud, AI, and cybersecurity. She previously served as editor in chief of Channel Insider and later of MSP Mentor where she was one of the original editors running the MSP 501.