Matrix Partners, others invest in Series B | Mint
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Business News/ Companies / Start-ups/  Matrix Partners, others invest in Series B

Matrix Partners, others invest in Series B plans to use the funds to ramp up its investments in enhancing its AI capabilities's total fundraising till date amounts to $29.4 million.Premium's total fundraising till date amounts to $29.4 million.

New Delhi:, an artificial intelligence (AI)-enhanced IT management SaaS provider, on Tuesday announced a $12.4 million raise in its Series B funding round, jointly led by Lee Fixel's venture capital firm Addition, and March Capital.

The round also saw participation from Matrix Partners India, pushing up's total fundraising till date to $29.4 million. The previous raise, a $14 million Series A funding in January last year, drew backers such as Addition, Tanglin Venture Partners, Matrix Partners, and Elevation Capital. plans to use the funds to ramp up its investments in enhancing its AI capabilities. The company, on Tuesday, also launched advanced network monitoring capabilities as part of the unified platform to expand its offering.

Founded in 2020 by ex-Freshworks colleagues Arvind Parthiban and Jayakumar Karumbasalam, delivers a cohesive platform aiming to streamline IT management for managed service providers (MSPs). Over the preceding year, the firm claims to have seen a 300% surge in its clientele.

Parthiban, who is the chief executive officer of the company, had founded marketing automation software, Zarget, which was later acquired by Freshworks Inc. Karumbasalam, on the other hand, built data platforms for companies like Zoho, Optus, as well as Freshworks.

“’s customer growth is a testament to their ability to empower MSPs to thrive in an ever-changing IT support landscape," said Tarun Davda, managing director, Matrix Partners India.

“With their newly launched advanced network monitoring capabilities, they are expanding their offerings, simplifying the IT management process even further," Davda added. said that the company was also scaling partnerships with vendors in areas including cybersecurity, payments and data backup to ensure MSPs have 360-degree technology support. It was also investing in community-led initiatives to help MSPs in areas beyond technology. said that it has doubled down on its US operations by appointing Juan Fernandez as channel chief earlier this month.

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Published: 10 Oct 2023, 05:58 PM IST
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