Chennai-based start-up raises $3 million in seed funding

Arvind Parthiban, right, and Jayakumar Karumbasalam, the co-founders of Credit: Special arrangement  

City-based firm, a professional services automation (PSA) and remote monitoring and management (RMM) platform, has raised $3 million in a seed stage funding round led by Elevation Capital and Matrix Partners India.

Noted angel investors, including Kayako’s founder Varun Shoor,’s founder Saravana Kumar, Posist’s co-founder Ashish Tulsian, and Livspace’s founder Ramakant Sharma, participated in the seed round. also launched its beta platform on Wednesday. The company plans to use the funds to strengthen research and development.

Founded in 2020 by serial entrepreneur Arvind Parthiban, is a modern take on disjointed managed service providers (MSP) tools (outsourced IT). He created the marketing automation software, Zarget, before selling it to Freshworks. “Our platform is tailored to cater to various segments of the MSP market,” Mr. Parthiban noted.

Tarun Davda, managing director, Matrix India, said, “The $300 billion MSP market has the potential for growth and expansion with the right tools, resources and ideas.”

The global MSP market was valued at $223.0 billion in 2020, and is expected to reach $329.1 billion by 2025, registering a compound annual growth rate (CAGR) of 8.1%. There has been a tremendous shift in focus towards the managed services and their applications for both short- and long-term strategic decisions. It is estimated that successful deployment of managed services will help in reducing IT cost by 25-45% and increasing operational efficiency by 45-65%.

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Printable version | Jun 24, 2021 5:57:15 PM |

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