MSP tech provider SuperOps.ai has raised $12.4 million in series B funding after seeing 300 percent growth over the last 12 months.
The firm also launched advanced network monitoringcapabilities as part of its platform.
“We were very frugal in our spending, and we wanted to make sure our product really solves a problem so it was completely in R&D,” Arvind Parthiban, co-founder and CEO of the unified SaaS platform provider, told CRN.
The funding round was led by New York-based venture firm Addition and Santa Monica, Calif.-based March Capital with participation from Matrix Partners India.
The company, founded in 2019 and currently employing more than 100, has now raised a total of nearly $30 million after raising $14 million in January 2022. The firm declined to disclose exact revenue figures.ADVERTISEMENT
Since launching three years ago, SuperOps.ai launched five products: PSA, RMM, project management, IT documentation and now network monitoring.
[Related: SuperOps.ai Taps Juan Fernandez As Channel Chief]
The series B funding will go towards R&D for AI and expanding its team in the U.S. It will also have a R&D team in New Zealand.
“It’s going to be twofold,” said Parthiban. “We want to heavily invest in GTM (go to market) expansion. To be honest, we were only doing organic and inbound sales so far, and [that’s] the kind of growth we got with just that. [The funding] will be invested on Juan [Fernandez] and what he’s going to do.”
Last week, the company tapped channel veteran Juan Fernandez as its new channel chief to lead all U.S. operations.
In his role, Fernandez will be advancing Claymont, Del.-based SuperOps.ai’s channel strategy, enhancing partner relationships and expanding the company’s global presence – all of which will enhance and strengthen SuperOps.ai’s platform and drive deeper engagement with the company’s partners.
The Claymont, Del.-based vendor is also growing its partnerships with vendors in cybersecurity, payments and data backup to ensure 360-degree technology support. It will also be investing in community-led initiatives to MSPs in areas outside technology.
The vendor currently only provides tools for the MSP market but Parthiban said with R&D its tools will soon be available for the enterprise.
“When you think about that all-inclusive tool that actually solves business problems that allows you to have that higher productivity component and it’s faster time to revenue…that is what MSPs are struggling with,” Fernandez told CRN. “When you think about having it all in this conjoint effort, some of the big monsters out there are actually doing that by trying to procure tools but they’re also creating the same friction. With us, having it built into the purpose built platform… there’s none of that friction. That’s why we’re seeing this huge amount of growth because MSPs are recognizing that it’s easier to do business with SuperOps because of the synergetic components.”