N-able Technologies Receives A Growth Equity Investment From Accel-KKR's Structured Capital Fund
Investment Focuses on Accelerating N-able's International Growth, Expanding its Solutions Portfolio and Furthering its MSP Partners' Success
N-able Technologies®, a global leader in remote monitoring and management (RMM) automation software for managed service providers (MSPs) and IT departments, recently announced it has received a strategic growth equity investment from Accel-KKR, a leading technology-focused private equity firm. Terms of the transaction were not disclosed.
The investment will be used to fund the growth and expansion of N-able's industry-leading RMM platform and to fuel continued international growth, as well as, to fund an aggressive acquisition program.
"This is an exciting time in N-able's history and a game-changing investment that provides us with the capital to accelerate our strategic growth plan and continue offering our MSP partners the business-building resources, comprehensive tools and technology innovation to remove the barriers that limit small and midsize businesses from taking advantage of managed IT services," said Gavin Garbutt, CEO of N-able Technologies. "Our goal is to further enable our 2,200 MSP partners to achieve 100 percent IT coverage within their markets and ensure they are recognized as the most successful MSPs in the world."
Founded in Ottawa in 2000, N-able is one of Canada's fastest growing technology companies and a global leader in RMM automation solutions for MSPs and IT departments. Today, over 2,200 MSPs use N-able's N-central RMM technology to manage over 52,000 small and medium sized businesses, which represents 175% growth in less than 2 years. N-able's international presence has grown substantially over the last three years and now represents 40 percent of its business. Headquartered in Ottawa, N-able has offices in North America, the U.K., the Netherlands and Australia. The Company recently announced its annual Partner Summit, which is expected to draw 450 MSPs to Phoenix, AZ on October 14 - 16.
"Capitalizing on N-able's market-leading technology platform and strong partner network, Gavin Garbutt and the N-able management team have built an innovative and industry leading company committed to growth by delivering superior value to its MSP partners," said Greg Williams, Managing Director of Accel-KKR. "We look forward to partnering with N-able as it continues to build upon its market leadership position, differentiated value proposition, and track-record of strong growth."
"Joining the Accel-KKR portfolio further differentiates N-able from competitors and introduces new opportunities for growth and R&D that will ensure our N-central platform and complementary toolsets remain the industry's best-performing RMM solution," said JP Jauvin, President and COO of N-able Technologies. "The timing of this partnership with Accel-KKR is perfect, and we look forward to showcasing how this investment will benefit our partners' businesses first hand at next week's worldwide MSP Partner Summit."
Since its inception, N-able has focused its efforts on empowering its MSP partners to drive mass adoption of managed IT services across the globe. "Our partners' success has been and will always be our top priority and we are committed now more than ever to helping them add more value and better align their IT services with the business goals and budgets of their small and midsize customers," concludes Mr. Garbutt.
For more information about N-able Technologies, visit www.n-able.com.
About N-able Technologies
N-able Technologies is the global leader in remote monitoring and management automation solutions for managed service providers (MSPs) and IT departments. N-able's award-winning N-central® software and complementary toolsets are proven to reduce IT support costs, improve network performance and increase productivity through the proactive monitoring, management and optimization of IP-enabled devices and IT infrastructure. N-central features an industry-first freemium model that drives down the cost of remote management and accelerates the mass adoption of managed services. With offices in North America, the U.K., the Netherlands and Australia, N-able is 100% channel-friendly and maintains strategic partnerships with Microsoft, Intel, IBM, CA, Cisco and APC, among others.
SOURCE: N-able Technologies Inc.