You are currently viewing [Funding alert] to take on legacy MSP software with $3M seed round Elevation Capital, Matrix Partners India

[Funding alert] to take on legacy MSP software with $3M seed round Elevation Capital, Matrix Partners India — a professional services automation (PSA) and remote monitoring and management (RMM) platform — on Wednesday said it raised $3 million in seed funding led by Elevation Capital and Matrix Partners India.

Angel investors, including Kayako Founder Varun Shoor, Founder Saravana Kumar, POSist Technologies Co-founder Ashish Tulsian, and Livspace Founder Ramakant Sharma.

Founded in 2020 by serial entrepreneur Arvind Parthiban, unifies PSA and RMM tools from the ground up as a single platform. The Chennai and US-headquartered startup will use the funding to strengthen its R&D for product innovation and usability, expand its team, and drive market adoption.

Speaking on the investment, Arvind Parthiban, CEO and Co-founder,, said,

“’s platform is tailored to cater to various segments of the MSP market, and intends to build a truly unified PSA, RMM solution powered by intelligent automation (IA). Further, it is helping MSPs with several benefits, including centralising control, minimising training requirements for technicians, and streamlining work processes, among others will be key.”   

The global managed services market was valued at $223 billion in 2020 and is expected to reach $329.1 billion by 2025, registering a CAGR of 8.1 percent. It is estimated that successful deployment of managed services will help in reducing IT cost by 25-45 pecent and increasing operational efficiency by 45-65 percent.

Tarun Davda, Managing Director, Matrix Partners India, said“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. With its modern MSP platform, has a strong advantage in positioning itself as a leader, pioneering change in a market filled with legacy tools.”

Akarsh Shrivastava, Vice President, Elevation Capital, said, “MSP software market is at an exciting inflection point. Challenges brought on by the shift 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. 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.” 

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