Kaseya: Another Record Quarter?
While speaking with a few trusted sources on July 21, I heard Kaseya has generated record quarterly revenue in North America and Europe, among other regions. Sales were also strong and continued to grow in Australia. Here’s a bit more on the rumblings, and their implications for the broader managed service market.
From what I’m hearing, Kaseya insiders are quite upbeat about their latest quarter. The company now has roughly 200 employees, and is generating approximately 60 percent of its revenue in the US and 40 percent abroad, according to experts in the know. Plus, the sources say, Kaseya generated record quarterly revenue across multiple regions in its most recent quarter.
Still, exact financial results are hard to nail down. As a privately held company, Kaseya doesn’t have to disclose its financial results. Dan Shapero, senior VP of marketing at Kaseya, politely declined to discuss the company’s financial momentum during a lunch meeting with me on July 21. But he sounded upbeat about Kaseya’s prospects and the broader MSP market.
Shapero believes we’ve moved beyond the early adopter stage, and roughly 10 to 15 percent of VARs have developed managed services strategies. Assuming there are roughly 80,000 to 100,000 VARs in North America (a rough estimate, of course), I guess we can estimate that there are about 8,000 to 15,000 MSPs in North America. Those figures sound a little high to me, but there’s no doubt MSP penetration is climbing rapidly.
Overall, the MSP market sounds like it remains healthy — despite the economic turbulence around us. A prime example: Nimsoft, another MSP platform provider, also had a record quarter, according to a vague but informative blog entry from Nimsoft CEO Gary Read.