Managed Service Provider Week in Review

If there was any doubt about the money pouring into and out of the MSP and cloud space, then this week’s wheelings and dealings should put it to rest. Major funding announcements, acquisitions and company and product launches dotted the headlines in the managed services space over the past few days.

Brand new company Netskope exited stealth mode this week, announcing general availability of their cloud app analytics and policy platform. The solution provides visibility and actionable insights on cloud app usage along with deep analytics. The company also received $21 million in funding in tandem with their official launch.

Investor OpenView Venture Partners also became actively involved with cloud backup provider Itronis, one of the companies it funds. The venture capital firm helped the company fine-tune its approach instead of trying to conquer the entire MSP community. The provider is now going after three market segments with its backup and storage offering, which provides billing, scheduling and account setup for MSPs.

In other dealings this week, iomart Group acquired Backup Technology, a cloud provider that manages more than 10 petabytes of backup for customers like Suzuki and Siemens. The company also plays in the disaster recovery space, and offers services based on Asigra software and NetApp hardware. iomart plans to build a cloud backup business while also supporting the new services through its fiber network and data centers.

Meanwhile, RMM company Continuum celebrated its second birthday this week. The company offers a SaaS-based platform to other service providers for monitoring, troubleshooting, backing up and maintaining endpoints and servers. Continuum already has more than 3,300 customers and is growing.