Announcing SkyKick’s $130M Financing

We’re thrilled to announce today that SkyKick has closed a $130M insider-led financing round, featuring new participation from Morgan Stanley Investment Management, with continued participation from current investors including Navin Thukkaram, Craig Nerenberg, Hawk Equity, Schechter Private Capital and more.

As a channel-only company, our mission is to help IT partners build more successful businesses in the cloud. We’ve worked closely together with you through the initial waves of the cloud, starting first with the early efforts to move customers to Office 365 in the cloud, then riding a wave of SMB cloud adoption that is rapidly intensifying.

As SMB cloud adoption and the proliferation of SaaS applications continue to intensify, IT Services Providers face both significant opportunity and increasing complexity when it comes to managing cloud customers.

We couldn’t be more excited about using this funding to help IT Services providers worldwide.

The cloud automation platform

Automation has come to almost every sector, and we’ve always believed that cloud automation would unleash the most value for IT Services Providers and their customers.

Our industry is entering the 3rd wave of the cloud, where we’re seeing even higher volumes of cloud adoption, a differentiated focus on security and the mainstreaming of hybrid work models.

8 years ago, we launched the first automation for partners with the SkyKick Migration Suites and since then we’ve worked hard to bring our vision of cloud automation to life. We innovated with cloud backup to offer data protection and help IT partners to expand their solution offerings.

Then during the pandemic, we launched cloud manager, the no-code, low-code automation solution to help IT Services Providers handle the mounting cloud complexity by making their operations more efficient, secure and profitable against any cloud workload.

The market for cloud managed services is growing rapidly, and the COVID-19 pandemic has only served to reinforce this trend. 500 million IT labor hours will be spent annually on cloud administration and management alone, and automation will be the key to helping IT partners succeed in this next wave.

Continuing to invest in your success

We’re one of the few remaining fully independent software vendors servicing the IT Services Provider ecosystem, so we’re excited about the opportunity to use this new capital to further invest in you.

We’ll use this funding to invest in people, operational resources and tools across 4 areas:

  1. Product Innovation to extend and deepen our portfolio of cloud migration, management and security / data protection tools
  2. Enhanced Partner Engagement & Sales capabilities to work more effectively and collaboratively with our partners in over 125 countries
  3. Continued investment in our award-winning Customer Support to help partners get the most out of our platform
  4. Partner Success & Marketing investments in resources and tools to enable you to sell better, improve operations and grow your business
A toast to you

We see this funding as validation of our mission, and a testament to the hard work that IT Services Providers do every day to enable digital transformation for SMBs.

It’s an exciting time to be an MSP focused on the cloud, because the cloud is in many ways still early and we see tons more SMB transformation ahead. There’s lots we’ve done, but there’s so much more to do.

It’s an honor to be the partner’s partner, and to raise this capital to help you build a more successful business.

Cheers,
Todd and Evan
SkyKick Co-CEOs

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