Chennai-headquartered unified Professional Services Automation (PSA) and Remote Monitoring and Management (RMM) platform SuperOps.ai has announced raising $14 million in Series A round of funding led by Lee Fixel-backed investment firm Addition, and Tanglin Venture Partners.
Returning investors Matrix Partners and Elevation Capital, as well as angel investors Giovanni Sanguily, CEO of Honey CRM; Sidharth Malik, CEO of CleverTap; Groundswell Group executives Noel Wax and Lisa Woods; as well as Abhi Kumar, Partner at M12 Ventures, also participated in the round, said a statement issued by the company.
SuperOps.ai was founded in 2020 by Arvind Parthiban who sold his marketing automation software company Zarget to Freshworks and Jayakumar Karumbasalam, who served as the vice president of engineering at Zarget and director of engineering at Freshworks post the acquisition.
The company had previously raised $3 million in a seed round from Matrix Partners India and Elevation Capital. SuperOps.ai will utilise the fresh capital to fuel research and development, and bring in more AI-based functionalities. It will also use part of the capital to hire a sales team in the US for its go-to-market strategy.
“I met Lee Fixel at the Freshworks’ IPO event in the US and that is how the conversation around the round started. Tanglin Ventures came on board with Addition,” Arvind Parthiban, Co-founder and CEO of Superops.ai told YourStory.
The company’s PSA-RMM platform powered by intelligent automation helps Managed Service Providers (MSPs) improve their efficiency and uptime.
“We’re excited to support SuperOps.ai as they bring about a much-needed change in the MSP space, a field that has not yet benefited from the pace of technological innovation seen across most other industries. SuperOps.ai’s vision of bringing AI and automation to MSPs is being driven by an impressive and solutions-focused team, and we look forward to partnering with them as they lead the digital transformation of the MSP market,” said Lee Fixel of Addition in the statement.
With an increase in distributed workforce and adoption of the cloud, IT teams are increasingly dependent on MSPs.
“Most of the MSPs work with legacy technology and use tools which do not work together. Most of the companies in the space which provide IT management and remote monitoring tools built one technology and added the others through acquisition. We built everything from scratch and hence the tools work seamlessly,” Arvind told YourStory.
He added that Superops.ai built five products and worked with 36 clients in the beta phase. It has seen a rising demand for integrations from its customers with accounting software providers such as Xero and Quickbooks.
At present, Superops.ai is targeting small- and medium-sized MSPs, primarily in the US market, apart from expanding to the UK and Dubai. According to the statement issued by the company, the MSP industry is estimated to have over 1.5 lakh players, the majority of which employ a handful of technicians.
The company also plans on expanding its team from 51 members to 70 over the span of a year.
Edited by Kanishk Singh