Kaseya Ends 2019 with Over $2 Billion Valuation, Highest Revenue Growth in Company History, and Multitude of Cutting-Edge Product Innovations
Company reports 30 percent growth fueled by product innovation, strategic business expansion and acquisitions, and a deeper footprint in international markets.
NEW YORK and MIAMI – Jan. 16, 2020 – Kaseya®, the leading provider of complete IT infrastructure management solutions for both managed service providers (MSPs) and internal IT departments, today announced record growth for 2019, with well over $300 million in annual bookings – driven by continued adoption and demand for Kaseya IT Complete, the industry’s most comprehensive, fully integrated IT management platform for MSPs and SMBs. These record sales showcase an organic growth rate of approximately 30 percent for the company, while adding over 5,000 new customers in 2019.
Other highlights fueled by the company’s stellar execution in 2019 include the acquisition of leading dark web monitoring and security vendor ID Agent, the development of six leading-edge, customer-centric products, the launch of a new multi-million-dollar Compliance business unit, and an expansion to Kaseya’s already global footprint.
This strong performance recently escalated Kaseya to the ranks of the coveted cybersecurity unicorn club, closing the year with a valuation over $2 billion.
“In 2019, we upped the ante through substantial investment in our customer-base and by developing new demand-driven products that completely revolutionize how MSP and IT professionals adapt to today’s complex technology demands,” said Fred Voccola, CEO of Kaseya. “As a customer-centric company, the success of our customers drives every decision we make. While we’re not perfect, I think we have done – and continue to do – a very good job of listening and innovating on behalf of our over 40 thousand-strong customer-base. I am incredibly proud of our accomplishments and humbled by the dedication from our more than 1,200 employees who work hard every day to personally drive the success of our customers. Together with this team, I look forward to even greater success in the year ahead.”
Milestones in Kaseya’s Corporate Momentum:
- The acquisition of leading dark web and identity monitoring provider ID Agent further bolstered Kaseya’s integrated IT Complete Suite with new security offerings.
- $10 million investment to strengthen Kaseya’s Compliance business unit dedicated to helping MSPs guide their customers through complex regulatory standards – one of the largest opportunities for recurring revenue for MSPs in the industry today.
- Completion of a $500 million investment. This allowed Kaseya to earn the coveted unicorn status among cybersecurity tech companies with a current valuation of over $2 billion.
- The appointment of industry veteran Ronan Kirby as president and general manager of Kaseya’s EMEA division allows the company to double down on growth, customer service and investment in the rapidly growing region, with Europe remaining one of Kaseya’s fastest growing markets.
Product Launches and Expansions:
- The launch of two first-of-its-kind compliance automation tools – Compliance Manager for Cyber Insurance and Compliance Manager for HIPAA helps MSPs and SMBs fully streamline complex liability claims and HIPAA compliance processes, leading to more profitability for MSPs.
- Kaseya delivered the industry’s highest margins for channel partners with the Unitrends Xtra channel partner program – a 75 percent higher payback for partners’ backup and disaster recovery business compared to competing providers. In addition, the program allows partners to earn recurring revenue every time a customer purchases other products from the Kaseya IT Complete solution portfolio over the next three years.
- The launch of Powered Services 2.0 offered the most comprehensive framework of go-to-market offerings in the industry, giving MSPs a critical edge to differentiate and build new recurring revenue streams across security, compliance, and backup.
- The launch of a powerful new add-on for IT Glue, Network Glue, brought network discovery, documentation, and diagramming to the next level, moving the manual work of IT teams into an automated topology map for maximum efficiency.
- Kaseya’s new direct-to-cloud backup solution, Unitrends Cloud Backup, offered MSPs unparalleled file recovery and protection from viruses, hackers, corruption and accidental deletion without the hassle of managing local backup storage.
- Kaseya had over 7,000 IT professionals attend its global series of Connect IT events.
- The events spanned 45 cities and three continents including its Connect IT Global conference held annually in Las Vegas, Connect IT Europe held in Amsterdam, Netherlands and its inaugural Connect IT APAC conference in Sydney, Australia.
Throughout 2019, Kaseya and its family of products received a multitude of top industry accolades highlighting its unparalleled innovation, service and leadership, including:
- Kaseya’s EVP of corporate marketing, Taunia Kipp, selected as one of The Software Report’s Top 50 Women Leaders in SaaS
- Kaseya VSA named Best RMM Offering with Kaseya IT Complete taking home Most Valuable Software at the European MSP Innovation Awards
- Kaseya recognized as one of CIO Bulletin’s 30 Great Places to Work in 2019
- ID Agent Vice President of Channel Success and Powered Services, Dan Tomaszewski, recognized as one of CRN’s 100 People You Don’t Know But Should
- Kaseya BMS recognized as the Best SaaS Product for Business Management by the SaaS Awards
- Kaseya’s RapidFire Tools named Security Solution of the Year at the European IT & Software Excellence Awards
- Kaseya’s Unitrends recognized as the Editor’s Choice for Company of the Year at the Storage Awards
- Kaseya’s Unitrends honored with a Gold Stevie Award for Customer Service Department of the Year for Computer Hardware and a Silver Stevie Award for Customer Service Department of the Year for Computer Software
- Kaseya’s Unitrends named Most Innovative Managed Service Offering for Storage by the Managed Services and Hosting Awards
- Kaseya’s RapidFire Tools recognized as a ChannelPro 2019 SMB All Star
- Kaseya recognized as one of CIO Bulletin’s 10 Most Influential Companies of 2019
Kaseya® is the leading provider of complete IT infrastructure management solutions for managed service providers (MSPs) and internal IT organizations. Through its open platform and customer-centric approach, Kaseya delivers best in breed technologies that allow organizations to efficiently manage, secure, automate and backup IT. Kaseya IT Complete is the most comprehensive, integrated IT management platform comprised of industry leading solutions from Kaseya, Unitrends, Rapidfire Tools, Spanning Cloud Apps, IT Glue and ID Agent. The platform empowers businesses to: command all of IT centrally; easily manage remote and distributed environments; simplify backup and disaster recovery; safeguard against cybersecurity attacks; effectively manage compliance and network assets; streamline IT documentation; and automate across IT management functions. Headquartered in Dublin, Ireland, Kaseya is privately held with a presence in over 20 countries. To learn more, visit www.kaseya.com.