This is a very interesting and close look into the IT Managed Services Industry.
Sramana Mitra: Let’s start by introducing our audience to yourself as well as to Kaseya.
Fred Voccola: I’m the CEO of Kaseya. We are the leading provider of IT and cloud infrastructure management solutions for small to mid-sized businesses. Everyone defines SMBs a little bit differently.
We define the SMB market as bifurcated along two fronts. One is the S, which is small businesses. They’re defined as companies that do not have any IT professionals. It might be startups or dental practices or doctor’s offices or small law firms, or the local businesses and the early stage technology companies that are driving the global economy.
The majority of job creation is coming from companies of less than a hundred employees. Most companies that have less than 100 employees do not have a full-time internal IT person. Small businesses consume their IT from what are known as managed service providers or IT service providers.
That’s the industry term for a company that provides IT infrastructure management for companies that don’t have IT. There’re about 150,000 of them around the world. The technology that we provide allows these managed service providers to remotely manage, monitor, and secureIT infrastructure for small companies around the world.
Sramana Mitra: How many customers are we talking?
Fred Voccola: We have about 35,000 customers around the world. Our technology is being used to run the infrastructure of about four million small businesses around the world. We also service midsize businesses that have internal IT. These are companies that may have 5,000 to 6,000 employees with 10 to 40 IT people. They consume our technology as our technology is a comprehensive IT infrastructure management platform that is very easy to use, quick to deploy, and very cost effective.
If you’re a managed service provider or if you are an internal IT organization that is strapped for resources and overloaded like most IT people are, we provide a very cost-effective and comprehensive solution in one simple interface that allows someone to do everything from managing end points, securing networks, providing disaster recovery solutions, and providing compliance management solutions. That is what we do at Kaseya and we’ve been doing it for about 14 years.
Sramana Mitra: How big a company are you revenue-wise?
Fred Voccola: We’ll do approximately $250 million in revenue this year. We’re growing around 30%.
Sramana Mitra: You’re still private?
Fred Voccola: Yes, we are owned by Insight Venture Partners. We do have another investment from the Irish State Investment Fund.
Sramana Mitra: Why that?
Fred Voccola: We have a pretty big presence in Ireland. The Iris State Investment Fund always looks to make equity investments in high-growth companies that provide substantial employment and growing the economy locally in Ireland. There’s nothing better than having the wealth management fund of the country that you’re operating in as your investor.