Rewst Secures $31 Million Investment to Advance MSP-focused Automation Platform
Rewst, a dedicated automation platform for Managed Service Providers (MSPs), has secured $31 million in a Series B funding round led by Meritech Capital.
Updated: January 12, 2024
Rewst, a dedicated automation platform for Managed Service Providers (MSPs), has secured $31 million in a Series B funding round led by Meritech Capital, along with participation from existing investors OpenView, TDF Ventures, and Florida Funders. The funding infusion aims to expedite Rewst's growth and enhance the value delivered to MSPs by expanding its product offerings, customer success initiatives, education programs, and strengthening the Robotic Operations Center (ROC) teams.
Established in 2020, Rewst addresses the challenges faced by MSPs by introducing the first purpose-built automation platform. Boasting 45 out-of-the-box integrations with popular products such as Acronis, ConnectWise, Datto, Duo, Huntress, ITGlue, Kaseya, Microsoft, OpenAI, Pax8, and SentinelOne, Rewst adopts a vendor-agnostic approach, enabling MSPs to seamlessly connect their entire tech stack. Users can automate end-to-end processes through pre-built automations or visually design custom workflows and forms. Common use cases include user onboarding/offboarding, billing reconciliation, group membership management, MFA alerting, just-in-time admin access, ticket categorization, prioritization, and more.
Founded in 2000, Rewst originally envisioned bringing the automation practices seen in enterprises with Robotic Process Automation (RPA) to the managed service provider market. The company pioneered the concept of purpose-built automation tailored to MSPs' needs. These automations are designed to optimize technicians' time by creating mini-bots that execute specific processes or actions triggered by predefined events. By automating manual tasks that consume significant technician time, tools like Rewst empower technicians to focus on tasks requiring problem-solving skills. The Rewst platform offers a user-friendly low-code/no-code interface, facilitating technicians in creating their own automations.
The Managed Service Provider (MSP) market is poised for automation, with many industry experts listing "Automation" as a top trend for 2024. However, despite the potential benefits, the market remains largely untapped, and MSPs are yet to fully embrace the promise of Robotic Process Automation-type automation. Rewst is positioned to play a pivotal role in driving this transformation within the MSP landscape.