N-able Recaps Managed Services Market Momentum
It’s not quite an earnings release, but N-able Technologies has offered some anecdotal information to describe the company’s continued momentum in the managed services software market — including key MSP milestones outside of North America.
N-able’s flagship product is N-central, a remote monitoring and management (RMM) software platform for MSPs serving SMB customers. Also, N-able helps resellers to promote N-central into mid-market corporate IT departments. The market for RMM software remains fiercely competitive, with roughly a dozen companies serving the industry in various capacities.
N-able partners now manage more than 59,000 end-user customers, up from 22,000 in January 2010 — a 168 percent increase in the past two years. Also, N-able grew its international partner base in Australia, New Zealand, the Netherlands, Scandinavia, the UK, Germany and South Africa by more than 40 percent.
N-able did not disclose actual revenue figures or profit figures; as a privately held company N-able and many of its rivals don’t offer up such figures. But N-able has previously stated that the company is profitable and growing.
How N-able Got Here
N-able’s apparent growth can be traced to several moves. CEO Gavin Garbutt has evangelized a freemium strategy that aims to ensure MSPs pursue 100 percent customer penetration with basic monitoring and security capabilities, while striving to upgrade such customers to paid services over time. In late 2010, N-able also named JP Jauvin president and COO, bolstering the company’s management ranks while VP of Sales Mike Cullen remained on the road to accelerate N-able’s global sales and partner strategy.
N-able has also built or strengthened relationships with Ingram Micro, the Independent Community Bankers of America (ICBA), International Business Products Inc. (IBPI), the ASCII Group Inc., the MSPAlliance and NetEnrich. A recent N-able/NetEnrich research report, penned by 2112 Group, described how many MSPs were underpricing their services.
Where is N-able heading next? Garbutt has vowed to keep the company focused purely on the channel — positioning N-central for MSPs, or leveraging MSP and reseller relationships to promote N-central into corporate IT departments.