SuperOps, an AI-driven software-as-a-service (SaaS) platform for managed service providers (MSPs) and internal IT teams, has raised $25 million in a Series C funding round led by March Capital, with participation from Addition and Z47. The funding follows growing investor interest in SaaS startups with strong growth and AI-driven strategies.
SuperOps plans to use the new funding to expand its AI research and development, scale its offerings for mid-market and enterprise MSPs, and further extend its global reach.
“We will be investing in expanding teams for marketing, sales, and product functions in the US, UK, and Australia…We will also be building predictive intelligence capabilities in the Monika AI platform that we have launched,” said the firm’s cofounder and CEO Arvind Parthiban to Moneycontrol.
Founded in 2020 by Parthiban and Jayakumar Karumbasalam, SuperOps.ai simplifies the IT management process and workflow of managed service providers (MSPs) on a single, unified platform.
The firm operates in the $280-billion MSP industry which is dominated by small and medium-sized businesses. It enables clients to move away from fragmented tools by bringing together the capabilities of remote monitoring and management of client assets with professional services automation functionalities.
The company claims to have tripled its customer base in the past year and expanded its operations to 104 countries. With this funding, SuperOps plans to enhance its AI research, scale its services for mid-market and enterprise MSPs, and expand globally.
SuperOps is also launching an Endpoint Management tool aimed at internal IT teams, enabling them to improve efficiency with fewer resources. The company reports that internal IT teams already account for 20% of its customer base.
CEO Arvind Parthiban stated that the tool addresses challenges such as remote work and cybersecurity threats, leveraging AI to streamline operations and reduce costs.
In 2024, SuperOps introduced Monica, an AI-driven assistant that automates workflows and provides data-driven insights, leading to a reported 30 percent increase in operational efficiency.
SuperOps aims to capitalize on the growing IT spending market, projected to reach $5.74 trillion by 2025, as it scales its offerings for IT service providers worldwide.
“Last year, our firm grew 250 percent. This year, we have grown 130 percent growth. Next year, we target 200 to 300 percent growth…My target revenue is 50 million... Two to three year,” Parthiban said.
In September 2023, the firm raised $12.4 million in its Series B funding round led by Addition and March Capital. In January of 2022, the firm raised Series A of $14 million led by Addition and Tanglin Venture Partners.
This brings its total funding to $54.4 million to date.
March Capital’s Vice President, Ravi Rajamony, cited SuperOps’ rapid product advancements and global expansion as key factors in the investment. Addition’s Todd Arfman and Z47’s Tarun Davda also expressed confidence in the company’s ability to drive innovation in IT service management.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
