Passportal, which offers a password management platform for MSPs, claims its service has reached a tipping point. And the anecdotal evidence suggests Passportal is gaining serious momentum.
Amid the milestones: The company's revenues have so far grown 560 percent year over year. Moreover, Passportal now supports more than 1,000 MSPs. Plus, the company has completed three rounds of funding -- and that money will carry the company forward amid expansion plans... and a march toward being cash-flow positive. A new CFO -- Mike Urquhart -- is on-board to help direct that march.
Those updates, share during a ChannelE2E meeting with Passportal CEO Colin Knox and President Dan Wensley, surfaced at CompTIA's Annual Member Meeting today in Chicago.
(Among the caveats to keep in mind: ChannelE2E doesn't know Passportal's annual revenues, nor do we know how steep the climb toward being cash-flow positive will be.)
Passportal's MSP Value
But what exactly does Passportal bring to the table for MSPs? The short answer, directly from the company, goes something like this: Passportal is a cloud-based Identity & Password Management solution exclusively designed for and used by MSPs. More than 1000 IT service companies across 28 countries have implemented Passportal. So what's the outcome? MSPs can better manage their clients' passwords, strengthen security, and improve technician efficiency, Passportal claims.
So what's next? Keep an eye out for Passportal Light (...or is it Lite? We're checking) -- a low-cost service that allows end-users to reset their own passwords. Also, more integrations with RMM (remote monitoring and management) platforms are on the way -- and integrations with PSA (professional services automation) systems like Autotask, ConnectWise and Tigerpaw Software are already in place).
Still, Passportal has reached a tipping point even before many new integrations arrive, Knox and Wensley assert.