SkyKick Announces $40 Million Funding Round to Accelerate Growth
Capital will be used to expand cloud automation and management products for SkyKick’s 20,000 IT service providers worldwide
SkyKick, a global provider of SaaS cloud automation and management products for Microsoft information technology (IT) service providers, announced today a new $40 million funding round, bringing its total capital raised to over $65 million. The cloud software company will use the additional funding to continue to expand its product portfolio of cloud automation and management products, and increase its investment in people and resources to best serve and support its IT service providers globally.
“We are excited to see the transformative impact SkyKick is having on our 20,000 IT service providers globally,” said SkyKick Co-Founder and Co-CEO Todd Schwartz. “This additional capital will not only accelerate our innovation pipeline, but also expand the ways SkyKick can help its IT service providers build more successful cloud businesses—we’re just getting started.”
SkyKick has experienced massive global growth over last three years, increasing its number of IT service provider customers by over 300 percent. This has been driven by the popularity of its suite of cloud management products which are designed to help IT solution providers, managed service providers, system integrators, resellers and distributors in more than 125 countries transform their business to be more agile and cloud centric. SkyKick’s products empower partners by automating their customers’ Microsoft Office 365 migrations, data backups and service management, enabling service providers to provide a superior cloud experience for their customers, improve operational efficiencies, increase the range of services offered and dramatically improve their bottom line.
“SkyKick’s growth is driven by our mission to help our IT service providers be more successful in the cloud and is a testament to the value they are providing their customers with SkyKick,” said SkyKick Co-Founder and Co-CEO Evan Richman. “Cloud adoption is still in its early stages and we are very excited about the massive opportunities for our IT providers in the years ahead.”
This latest funding was the company’s fifth insider-led round, including noted tech investor Navin Thukkaram, best-selling author and investor Tim Ferriss, former German Minister of Technology and Defense Karl-Theodor zu Guttenberg, Managing Partner of Brenner West Capital Craig Nerenberg, and other large private investors.