SuperOps.ai. raises $3M co-led by Matrix Partners India & Elevation Capital

SuperOps.ai. raises $3M co-led by Matrix Partners India & Elevation Capital

Claymont, US, 12th May 2021: SuperOps.ai, a professional services automation (PSA) and remote monitoring and management (RMM) platform, raised $ 3 million in fresh funding and formally launched its beta platform today. Elevation Capital and Matrix Partners India co-led the seed round, with participation from notable angel investors, including Kayako's founder Varun Shoor, Kovai.co's founder Saravana Kumar, Posist's co-founder Ashish Tulsian, and Livspace's founder Ramakant Sharma.

Founded in 2020 by serial entrepreneur Arvind Parthiban, SuperOps.ai is a modern take on disjointed MSP tools. SuperOps.ai unifies PSA and RMM tools from the ground up as a single platform. The company plans to use the proceeds of this funding to strengthen its R&D in terms of product innovation and usability, expand its team, and drive market adoption.

Arvind Parthiban, CEO and Co-Founder SuperOps.ai, said, "MSPs are heavily dependent on the efficacy of PSAs and RMMs to enable a successful business run rate. As such, MSPs can benefit from implementing both tools and using them in conjunction. However, achieving this in a cost- and resource-effective manner isn't straightforward.

He also added, "Presently, MSP tools are siloed and becoming synonymous with decaying legacy software that hinders their growth. Some of the leading companies championing legacy software include Kaseya, Datto, Connectwise, and Solarwinds. Despite new startups emerging to disrupt the space, their products are focused primarily on catering to large MSP businesses leaving the smaller MSPs to dry. SuperOps.ai's platform is tailored to cater to various segments of the MSP market and intends to build a truly unified PSA, RMM solution powered by intelligent automation (IA). Furthermore, helping MSPs with several benefits, including centralizing control, minimizing training requirements for technicians, and streamlining work processes among others will be key.'

SuperOps.ai's platform helps MSPs deliver more and better services with fewer tools '” one platform, to be precise. The MSP platform addresses the following gaps in existing legacy tools:

• Clunky UI increases the learning curve and reduces efficiency. On the contrary, SuperOps.ai's UI is modern, simple, and easy to use.
• SuperOps.ai is built as a unified solution from the ground up, unlike legacy software where PSA and RMM are stitched together through acquisitions.
• Legacy on-prem tools are often built using legacy code, making it difficult for them to adapt their existing framework for the cloud. It causes a lot of parity and stability issues.

Tarun Davda, Managing Director, Matrix India, said, "Several industries have adapted to a new way of working in 2020, as companies increasingly relied on managed services for their IT needs. The $300-billion MSP market has the potential for rapid growth and expansion, with the right tools, resources, and ideas. With its modern MSP platform, SuperOps.ai has a strong advantage in positioning itself as a leader, pioneering change in a market filled with legacy tools. We have been privileged to have partnered with Arvind previously for Zarget and are thrilled to partner once again as he embarks upon a new entrepreneurial journey!'

The Global Managed Services Market (henceforth referred to as the market studied) was valued at USD 223.0 billion in 2020, and it is expected to reach USD 329.1 billion by 2025, registering a 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%.

Akarsh Shrivastava, Vice President, Elevation Capital, said, "MSP software market is at an exciting inflection point. Challenges brought on by shift to the cloud, coupled with strong tailwinds of remote work and distributed teams, have pushed MSPs to adapt faster and become more productive and agile. Superops.ai will give small and mid-sized MSPs an easy-to-use, modern tool, which will not only allow them to be more efficient but also serve their clients better as they embrace the cloud era. Super thrilled to partner with Arvind and Jay as they disrupt this large legacy market.'

SuperOps.ai aims to tackle the challenges of what we call the "new normal" in the MSP sphere and is taking on the goliaths of the MSP vendor market. Its founders, Arvind Parthiban (CEO) and Jayakumar Karumbasalam (CPO & CTO), have a proven track record in building, scaling, and selling IT software and are now looking to tackle what is a billion-dollar problem. The pandemic opened up a huge opportunity to build a futuristic platform that addresses new-age problems, bridges the gap between internal IT and MSPs, and helps MSPs stay relevant in a constantly evolving technology landscape.

About SuperOps.ai:

SuperOps.ai is a PSA-RMM platform powered by intelligent automation built for modern MSPs. The company is founded by Arvind Parthiban and Jayakumar Karumbasalam, who have a combined experience of over 35 years in the IT industry. The CEO, Arvind, is a serial entrepreneur who created the leading marketing automation software '” Zarget, before selling it to Freshworks. Jayakumar, the CTO/CPO, has worked in Zoho, Optus, and Freshworks heading and building data platforms.

About Elevation Capital:

Elevation Capital is a leading venture capital firm that provides seed and early-stage capital for emerging companies in India. Founded in 2002, Elevation is currently investing out of its seventh fund and has over $2 billion under management. The fund is led by Managing Partner Ravi Adusumalli, along with five Partners Deepak Gaur, Mukul Arora, Mridul Arora, Vivek Mathur, and Mayank Khanduja. The firm has a portfolio of over 100 companies across the internet, SaaS, consumer, financial services, and logistics sectors. Elevation has been an early investor and partner to founders of category-defining companies such as Acko, FirstCry, Justdial, Makemytrip, Meesho, NoBroker, Paytm, ShareChat, Swiggy, Unacademy, and Urban Company, among several others.

About Matrix Partners India:

Matrix Partners India is an investment firm with approximately $1 billion under management. Founded in 2006, the firm invests in companies targeting the Indian consumer and enterprise market at the seed, early, and early growth stages. Matrix India has invested in several market-leading companies such as Ola (mobility), Dailyhunt (mobile local language platform), Mswipe (mobile POS), Five Star Business Finance (SME lending), OfBusiness (credit led B2B marketplace), Ola Electric (electric vehicles), Razorpay (payments), Stanza Living (tech-enabled student housing platform), OneCard (mobile-first credit card), Country Delight (D2C dairy & fresh foods brand), DealShare (social commerce platform), MoEngage (intelligent marketing cloud platform) and Cloudnine Hospitals (leading chain of maternity hospitals) among others. Matrix India has advisory offices in Bangalore, Delhi, and Mumbai. Matrix Partners has a global network of funds investing in the US, China, and India, with approximately $5 billion under management. Further information is available at www.matrixpartners.in. To know more about our investment philosophy & ideologies, check out the #MatrixMoments podcast series.

For media inquiries, contact:

Upasana Sarkar

upasana.sarkar@mslgroup.com | +91 85870 76270