LabTech Software Gains Managed Services Momentum
LabTech Software, a remote monitoring and management (RMM) software provider, has gained some managed services momentum. The company, which attracted investment money from ConnectWise Capital in February 2010, now has more than 300 customers. Here’s an update from LabTech CEO Matt Nachtrab, and some perspectives for MSPs.
LabTech is quick to note that sales have grown “over 1000 percent” since the ConnectWise Capital investment. But it’s important to put those figures in perspective. Generally speaking, LabTech has a smaller installed base than most of the entrenched RMM software providers.
Still, LabTech is showing momentum. Nachtrab says LabTech now has over 300 customers, with 30 to 50 new customers coming online per month. March and April, Nachtrab adds, were the strongest months in LabTech’s history.
To accelerate that growth and maintain service quality, LabTech has made hires across sales, marketing and support — though Nachtrab declines to discuss exact headcount figures. Nachtrab now maintains an apartment in the Tampa, Fla., area to work more closely with ConnectWise Capital. But LabTech’s development team and some administrative staff remain in Toledo, Ohio — the region where LabTech launched.
LabTech says some of its recent momentum involves switching MSPs from the Kaseya platform to the LabTech platform. But LabTech says its customer base also includes first-time MSPs.
That’s an increasingly familiar theme in the managed services market, where upstarts like CentraStage of the UK are targeting Kaseya service providers as potential converts. For its part, Kaseya says the new Kaseya 2 platform is off to a record start.
Looking ahead, LabTech is developing a hosted version of its software. Near term, T2 Solutions of Scotland is expected to introduce a hosted LabTech offering for Europe. (I suspect details will surface in a few weeks.) And LabTech itself plans to deliver a hosted version late this year.
Meanwhile, ConnectWise has vowed to make sure its PSA (professional services automation) platform remains open to all RMM platforms.