US-based remote monitoring and services automation platform, SuperOps.ai, on Wednesday said that it has raised $3 million as a part of its seed round co-led by Elevation Capital and Matrix Partners India.
The round also saw participation from angel investors, including Kayako founder Varun Shoor; Kovai founder Saravana Kumar; Posist co-founder Ashish Tulsian; and Livspace founder Ramakant Sharma.
According to the company, it will use this funding to strengthen its research and development, expand its team, and to drive market adoption.
The year-old startup provides professional services automation (PSA) and remote monitoring and management (RMM) tools for businesses, through its platform.
“Managed service provider (MSP) tools are siloed and becoming synonymous with decaying legacy software that hinders their growth. Despite new startups emerging to disrupt the space, their products are focused primarily on catering to large MSP businesses, leaving the smaller MSPs to dry. SuperOps.ai’s platform is tailored to cater to various segments of the MSP market and intends to build a truly unified remote monitoring solution powered by intelligent automation (IA),” said Arvind Parthiban, chief executive officer and co-founder, SuperOps.ai.
Managed service provider (MSP) software is an IT service platform that manages a predefined set of services for clients, across business verticals and acts as a virtual assistant.
“MSP software market is at an exciting inflection point. Challenges brought on by shifts to the cloud, coupled with strong tailwinds of remote work and distributed teams, have pushed MSPs to adapt faster and become more productive and agile. Superops.ai will give small- and mid-sized MSPs an easy-to-use, modern tool, which will not only allow them to be more efficient but also serve their clients better as they embrace the cloud era,” said Akarsh Shrivastava, vice president, Elevation Capital.
SuperOps.ai estimates that the global managed services market is expected to be worth $329.1 billion by 2025, growing at a compound annual growth rate of 8.1%.
“Several industries have adapted to a new way of working in 2020, as companies increasingly relied on managed services for their IT needs. The $300-billion MSP market has the potential for rapid growth and expansion, with the right tools, resources, and ideas,” added Tarun Davda, managing director, Matrix India.
