Venture capital

Torii raises $10M to automate the discovery, spend optimization, operations & compliance of SaaS applications. SaaS Alerts & Augmentt also in market, focused on MSPs.

Zomentum, which develops sales automation software for MSPs & IT channel partners, raises $13M from Elevation Capital, Accel & Greenoaks.

Most SaaS backup providers focus mainly on Microsoft 365 & Google Workspace (formerly G Suite). OwnBackup, led by Sam Gutmann, bet the business on Salesforce data protection.

MSP cloud marketplace provider Pax8 raises $96 million from Catalyst Investors, Sageview Capital, Blue Cloud Ventures & Liberty Global Ventures.

Zomentum raises $4.1 million from Accel & SAIF Partners for MSP sales automation software platform. Zomentum CEO Shruti Ghatge explains the strategy.

UiPath funding arrives as robotic process automation (RPA) rivals like Microsoft & IBM make acquisitions. Can RPA really automate all businesses?

Cloud business continuity provider OwnBackup raises $50 million from Insight Partners, Salesforce Ventures & Vertex. Insight also backs Kaseya, Veeam, Spanning Cloud & Unitrends.

Wasabi Technologies raises $30 million & gains momentum as Amazon AWS S3 cloud storage alternative. MSPs embrace Wasabi to store Veeam backups and more.