Managed Service Provider Week in Review

Managed Service Provider Week in Review

By Laura Stotler

We write quite a bit about the strength and growth of the managed services market here. And it’s easy to get caught up in the hype with new product announcements, partnerships and mergers and acquisitions making the headlines daily. But as with most things, the dollar is the bottom line and money was flowing freely this week with record earnings reports and venture capital dollars topping the news.

Hybrid cloud business continuity and disaster recovery provider Datto was the big winner this week. The company received $25 million in funding from General Catalyst partners, which will be used to provide more customer services, fund new products and expand the company internationally.

Cloudamize, a provider of capacity planning and optimization for Amazon Web Services (AWS) was the lucky recipient of $1.2 million in seed financing this week. The company’s core offering helps customers take complex data sets from their AWS deployments and extract accurate and actionable recommendations using predictive analytics.

On the earnings front, MSP Virteva reported its managed services business has grown 76 percent over the last 12 months. The company is now a ServiceNow provider serving five customers and around 38,000 users.

MSP SunGard Availability Services announced a 30 percent rise in new customer average monthly recurring revenue, as well as 20-percent growth of new enterprise business. The company, a provider of availability and DR services, also reported that the number of existing customers acquiring additional products and services rose by 31 percent.

And in big contract news, CenturyLink was awarded a cloud data center and IaaS contract by the FCC. The three-year agreement could earn the company up to $1.1 million for providing managed, scalable public cloud hosting services to the feds.



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MSPToday Contributing Editor

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