Ottawa-based SaaS management firm Augmentt has successfully closed a $12.8 million Series A funding round to enhance its platform for Managed Service Providers (MSPs). The investment was led by New York growth equity firm Camber Partners and is earmarked for accelerating product development and expanding market reach. This capital infusion signals strong confidence in Augmentt's mission to unify and secure Microsoft 365 environments for small and mid-sized businesses.
Addressing a Growing Market Need
Modern MSPs operate in an increasingly demanding environment, grappling with rising operational costs, intense competition, and complex regulatory requirements. Simultaneously, their clients expect more sophisticated services, including faster response times and robust security postures for their cloud infrastructure. Augmentt's platform directly addresses these pressures by providing automation and tools that streamline tenant posture monitoring and management.
The global market for managed services is projected for substantial growth, with some estimates suggesting it will expand to over $500 billion USD by 2029. This rapid expansion underscores the critical role MSPs play as the backbone of modern IT delivery and cybersecurity for countless organizations. Augmentt is positioning itself to capitalize on this trend by providing a solution that enhances both efficiency and security.
Strategic Investment for Accelerated Growth
The new capital will enable Augmentt to significantly fast-track its product roadmap and scale its go-to-market strategies in response to high demand. Derik Belair, CEO of Augmentt, stated that the company is eager to leverage Camber's deep operating experience to drive innovation for MSPs. This partnership is poised to accelerate customer success initiatives and expand the company's global footprint significantly.
Camber Partners expressed strong confidence in Augmentt's potential to redefine the industry standard for MSPs serving the SMB market. Duncan McGillivary, Vice President at Camber, praised the Augmentt team for its profound industry expertise and a proven history of exceptional execution. He believes the company's valuable product and clear vision will usher in a new era of improved service and security for businesses worldwide.
Experienced Leadership and Industry Vision
Augmentt's leadership team, which established the company in 2020, possesses extensive experience from their previous roles in the MSP software industry. Co-founders Derik Belair and Gavin Garbutt were instrumental figures at N-able, an Ottawa-based networking tech startup that was acquired by SolarWinds. Their combined expertise provides a unique understanding of the specific needs and pain points of modern MSPs.
Gavin Garbutt, Chairman of Augmentt, articulated the company's core mission to empower MSPs who are consistently tasked with achieving more with fewer resources. He emphasized that the platform delivers critical security automation, visibility, and control across the entire Microsoft ecosystem and beyond. This funding is crucial for accelerating that mission and continuing to build the world-class tools MSPs need to scale effectively.
This $12.8 million Series A funding round marks a pivotal moment for Augmentt, validating its innovative approach to SaaS security and management. With the backing of Camber Partners and a seasoned leadership team, the company is well-equipped to address the evolving needs of the MSP community. The investment not only fuels Augmentt's growth but also reinforces its commitment to empowering MSPs to deliver superior, secure, and profitable services globally.