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$3 Million Raised by in Seed Funding.

Elevation Capital and Matrix Partners India in Chennai, have joined hands together for seed-stage round of on Wednesday. is a Professional Services Automation (PSA) and Remote Monitoring and Management (RMM) platform. In collaboration, they raised a whopping amount of $3 million.

Some high-profile renowned investors who participated in the seed round include Kayako’s founder Varun Shoor,  Saravana Kumar-,’s founder, Ashish Tulsian- Posist’s co-founder, and Ramakant Sharma- Livspace’s founder.

Founded and established by Arvind Parthiban in 2020, is a modern take on disjointed managed service providers (MSP) tools (outsourced IT). MSP is an IT product that manages various business-based services for clients like a virtual assistant. The beta platform launched on Wednesday to strengthen research and development. Moreover, it will assist in dealing with data leaks, process delays, bad UI automation and more.

Parthiban, along with this team, has successfully created marketing automation software, Zarget, before selling it to Freshworks.

Studies show that the global MSP market was valued at $223.0 billion in 2020, will touch $329.1 billion by 2025, registering a CAGR of 8.1%. Significant shifts have also been made in both short- and long-term strategic decisions. Also, as per the estimate, managed services deployment will help in reducing IT cost by 25-45% and increasing operational efficiency by 45-65%.

As per Taurn Davda, Matrix India’s managing director, the $300 billion MSP market can grow and expand to its full potential with the right tools, resources, and ideas.

What do you think?

Written by Ravi Tilekar


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