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Investment designed to bolster growth and market presence amid MSP demand for SaaS security tools.
September 8, 2022
SaaS Alerts has secured a $22 million growth investment from global software investor Insight Partners. The funding aims to accelerate the growth of the company’s SaaS security monitoring and response platform.
“With the investment from Insight Partners, SaaS Alerts will be able to provide a greater focus on sales enablement,” Jim Lippie, CEO of SaaS Alerts, told Channel Futures. “[It will] create a new community program for all existing MSP partners, build tighter relationships with industry peer groups and develop game changing product enhancements.”
Businesses have been adopting SaaS applications with increased frequency as of late. This has been nudged by the need to provide collaboration and productivity tools to remote workforces. It has also been driven by the necessity of having more centralized business data resources. Because of this, hyper awareness and warranted concern for significant security gaps that exist in SaaS application security have spiked. Therein lies a golden opportunity for MSPs. These security concerns give providers a chance to step up and better safeguard their clients; this, while offering SaaS security services that drive profitable new revenue streams.
SaaS Alerts helps MSPs monitor and protect their customers’ usage of popular SaaS applications. This includes Microsoft 365, Google Workspace, Salesforce, Dropbox and more.
“We couldn’t be more excited to partner with Insight Partners,” said Lippie. “[We] see their investment in SaaS Alerts as a monumental endorsement for what we have built and what we intend to build as we collaborate going forward. I’m very proud of our team for reaching this milestone. I look forward to working with Insight to continue to build value for our MSP partners and stakeholders.”
“SaaS applications have become essential for businesses of every size,” said Philine Huizing, principal at Insight Partners. “MSPs need the ability to better protect those applications on behalf of their customers. SaaS Alerts has pioneered SaaS security for MSPs. [The company] has a clear vision for how detecting and correlating abnormal user behavior can greatly impact the MSP industry. We’re excited to partner with SaaS Alerts as the company scales to address this unique opportunity.”
Allison Francis is a writer, public relations and marketing communications professional with experience working with clients in industries such as business technology, telecommunications, health care, education, the trade show and meetings industry, travel/tourism, hospitality, consumer packaged goods and food/beverage. She specializes in working with B2B technology companies involved in hyperconverged infrastructure, managed IT services, business process outsourcing, cloud management and customer experience technologies. Allison holds a bachelor’s degree in public relations and marketing from Drake University. An Iowa native, she resides in Denver, Colorado.
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