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The day has arrived. We unveil the first of the 2023 MSP 501 winners.
June 20, 2023
Let us all raise our glasses high to the Channel Futures MSP 501 Class of 2023. They deserve it.
This group of managed service providers from around the world proved they had the business savvy, discipline, judgment and drive in 2022 to grow their managed and professional services, EDITDA, recurring revenue and revenue per employee — the ranking’s key judging criteria. They achieved those milestones during a year of great change, uncertainty and opportunity, a year that’s considered among the most important and pivotal moments in the last decade of the IT industry.
Ensono’s Brian Klingbeil
“There was an understanding of the need for transformation and how complex it is,” said Brian Klingbeil, chief strategy officer at Ensono, which landed very high on this year’s list. “A huge portion of the world in 2021 and 2022 started engaging digitally. 2022 was also the year that MSPs had to stop just being reactive and [start] being proactive.”
Today, Channel Futures is revealing the first group of 100 winners of the MSP 501 in descending order. Each day this week, we’ll continue to announce two groups of 50 winners – one in the morning and the other in the afternoon. You can see them front and center on the Channel Futures home page and the collection of lists on our MSP 501 page. We will unveil the top 100 in two parts on Friday, June 23.
We realize that’s a long wait to see which companies reached the upper echelon of the list. To relieve the suspense, Channel Futures will host a special webcast, sponsored by Ingram Micro, June 22, at 2 p.m. ET. Not only will we reveal the top 100, but we’ll also dive into the report’s key findings. Please register for free here. You won’t want to miss the webcast and a chance to celebrate the success of this year’s winners.
Then, on Monday, July 3, be sure to check back with Channel Futures for our NextGen 101 rankings. This is a list of the some of the most innovative managed service providers in the business.
There are plenty of reasons to celebrate. These MSPs took to the frontlines during the pandemic to provide the technology that helped hundreds of thousands of small, medium and large businesses not only survive the crisis but thrive in the days ahead. They delivered the cloud services that enabled a newly remote workforce and the security needed to protect their work. As the worst of the pandemic subsided, they delivered the latest upgrades, technologies and services that improved their clients’ efficiencies, productivity, revenue and profit. As the years progress and the power of cybersecurity tools, AI and automation advances, they will continue to do so — for their teams and, more importantly, for their customers.
Velocity IT’s Kenny Riley
“Being on the 2023 MSP 501 list for us is recognition for all the hard work that we’ve put in over the years to grow to what we have,” said Kenny Riley, information technology service manager at VelocityIT, Dallas, which also placed high on the list. “I know this award is about us and our growth, but that would not be possible without our customers. This is also an award for our customers that helped propel us to this level.”
Over the next several months, Channel Futures will feature stories and analysis based on the trove of data collected in the MSP 501 survey. Additional lists and key content will focus on areas such as top-growing MSPs in cloud and security solutions; women- minority-, and veteran-owned MSPs; and geographical breakdowns of MSPs and the trends emerging in those regions. On July 3, we’ll also launch the NextGen 101 list of up-and-coming MSPs that are quickly blazing their way to the top of the industry. Meanwhile, here are some of the report’s key findings:
Aggregate Revenue of the 501ers: $13.8 billion.
Average Revenue Per MSP: $27.5 million for a 25% year-over-year increase; Median: $6.67 million, a 17% increase.
Average Total Recurring Revenue from Managed Services: $16.7 million, a 33% increase; Median: $4 million, a 21% increase.
Average EBITDA Profit Margin: 13%
EBITDA Growth Year Over Year: 35%
Total Employment: 100,571; Median of 32 employees per company
Minority-, women- and millennial-owned MSPs: 8%
The celebration of the 2023 MSP 501 doesn’t end with the posting of important content and survey results on Channel Futures We’re bringing the party (literally) to the Channel Futures Leadership Summit, Oct. 30-Nov 2, in Miami, where we’re throwing the MSP 501 Awards Gala. All MSP 501ers and their teams receive unlimited complimentary VIP all-access passes to the event and two free seats at the gala. Winners only: We have an exclusive link for you to reserve your seat at the gala and register for the event. It will give the IT industry another chance to raise its glasses and celebrate the MSP 501, the very best managed service providers in the world.
See our slideshow above to see who ranked where.
Then, review our other MSP 501 rankings released this week:
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