eFolder has hired ConnectWise veteran Adam Slutskin as chief revenue officer (CRO), the company confirmed today. It's the latest in a series of dramatic moves designed to accelerate eFolder's data protection momentum with MSPs.
Over the past few weeks, eFolder has merged with Axcient and also named Matt Nachtrab as CEO. Former CEO Kevin Hoffman, a technologist at heart, shifted to the CTO position. Slutskin and Nachtrab previously worked together at ConnectWise, focusing heavily on the company's expansion from PSA (professional services automation) into RMM (remote monitoring and management) and other IT automation tools for technology solutions providers (TSPs).
Joining eFolder now resembles the growth opportunity that ConnectWise experienced amid the 2010 investment in LabTech Software, Slutskin told ChannelE2E this morning. At the time, ConnectWise was the first major MSP software company to bring PSA and RMM under one software company roof as part of a larger long-term growth strategy.
Slutkin joined ConnectWise in 2009, and grew the sales organization from five members to a revenue generating team approaching 300 sales professionals, eFolder says. ConnectWise CEO Arnie Bellini wished Slutskin well in his new position at eFolder. "We are excited for Adam's new opportunity at eFolder," Bellini told ChannelE2E. "We believe ConnectWise alumni will help build out the ecosystem for Technology Solutions Providers."
eFolder and Axcient: Opportunities and Challenges
Slutskin joins eFolder only one week after the eFolder-Axcient merger was announced. The deal has been positioned as a merger, though I view it as eFolder acquiring Axcient.
The deal certainly offers some upside opportunities for eFolder and its MSP base -- especially as partners seek to blend on-premises backup with cloud-centric recovery and data protection services. The deal also gives eFolder instant reach beyond SMBs into midmarket organizations.
Plus, Nachtrab and Slutskin have a close working relationship from their days at ConnectWise. The two executives are known for building technology, sales and marketing roadmaps together. Working closely with Hoffman, the duo will need to carefully align eFolder's sales, pricing, marketing and partner support across a broad base of products, including some midmarket Axcient offerings that are sold directly to customers.
Still, there are some potential challenges. For instance, eFolder will need to make sure Axcient team members remain happy in their roles. Axcient was venture backed, and for several years attempted to find a way to IPO. But growth rates didn't live up to venture capital expectations, and the company sale to eFolder likely means Axcient stock options didn't deliver a windfall for employees, ChannelE2E believes.
Evolving Data Protection Rivalries
Meanwhile, rivals are making strategic moves of their own. A key example: Datto has hired Timothy Weller as CFO, a potential indication that the MSP-centric data protection company is ramping up for an IPO (initial public offering). Also, Carbonite has launched partner program enhancements as part of CEO Mohamad Ali's overall strategic plan.
At first glance, the data protection market appears saturated with rivals. But new research from The 2112 Group and Intronis MSP Solutions by Barracuda suggests plenty of additional upside awaits partners. No doubt, eFolder, with Slutskin on board, wants to help partners capitalize on those opportunities.
