Kaseya, a provider of IT infrastructure management solutions for both external service providers (MSPs) and internal service providers (IT departments), has secured an investment of more than USD500 million from a group of investors including TPG, a global alternative asset firm, and Insight Partners, an existing investor in the company.
The investment will further propel the tremendous momentum that Kaseya enjoyed in 2018, which saw the company grow over 30 per cent while increasing its customer base to approximately 40,000 customers worldwide, as well as successfully completing and integrating four major acquisitions between Unitrends, Spanning Cloud Apps, RapidFire Tools, and IT Glue.
Kaseya will use this investment and partnership to fuel growth through additional strategic acquisitions, deeper expansion into international markets, and increased R&D spending on cutting-edge, customer-centric products.
“Technology is becoming more critical for small to mid-size businesses every day, and whether they receive it from a managed service provider or their own internal IT department, they want more efficient solutions that yield greater results,” says Fred Voccola, CEO of Kaseya. “We’re excited to partner with TPG, who will help us explore opportunities to continue our growth and deepen our commitment to the market, our products, and our customers’ success. This investment validates our position as the only industry player that can offer these innovative, integrated solutions from a single pane of glass. We remain highly focused on increasing investment in our products and customers and look forward to serving this fast-growing market long into the future.”
“We are very excited about our investment in Kaseya’s future growth,” says Nehal Raj, partner at TPG. “Kaseya is a leading player in today’s rapidly growing IT infrastructure management market, offering best-in-class, integrated technology at a compelling price point. The company’s innovative products, skilled management team, and strong customer base position them well for continued success, and we look forward to working together to build and enhance the platform.”
