Managed services News
MSPbots Raises $5M In Seed Funding: Exclusive
‘We hired a couple of very senior industry veterans to help us [on] the marketing, the sales and the product sides to improve at every angle,’ Daniel Wang, founder and CEO of MSPbots, tells CRN. ‘[This will] not only expand all the things that we already did, which is also very valuable for our clients, but also help us to push forward.’
AI technology platform MSPbots has secured $5 million in seed funding from Mercury to further develop its products and expand its team with a goal to capture more of the MSP market.
“We have about 69 integrations,” Daniel Wang, founder and CEO of Chicago-based MSPbots, told CRN in an exclusive interview. “We are planning to double the amount of integrations over the next four months because MSPs have been asking us over and over. We have a backlogged list that is about two years long. This funding definitely helps us hire top-notch talent and a seasoned leadership team to help manage all aspects of people’s needs.”
This is the company’s first round of funding, and it will go toward investments in AI, including Large Language Models and RLHF (reinforcement learning human feedback), as well as expanding its sales and marketing teams. Wang said the company currently has about 110 employees, and he plans to double that over the next year. Some of the AI capabilities will be released in the next two to three months, he said..
From a development standpoint, MSPbots has “low-hanging-fruit opportunities” it can immediately bring to the MSP market, according to Wang.
[Related: The 10 Hottest AI Startups Of 2023 (So Far)]
“This is where we can quickly go to market as there’s tons of opportunity,” he said. MSPbots has seen an 80 percent jump in new customers in the past six months, according to Wang.
“We hired a couple of very senior industry veterans to help us [on] the marketing, the sales and the product sides to improve at every angle,” he said. “[This will] not only expand all the things that we already did, which is also very valuable for our clients, but also help us to push forward.”
After running a successful MSP, Wang founded MSPbots, drawing upon his interest in AI to assist other MSPs with a platform to help their customers automate tasks and optimize team management.
“We have been particularly impressed with Daniel as a founder, given his first-hand experience operating a MSP, early adoption of AI and forethought in building proactive intelligence solutions to improve business practices for the broader MSP community,” Eddie Lou, venture partner at Mercury, told CRN. “With MSPbots he has built a platform that’s completely unique from legacy MSP service providers, with more data sets than any other MSP dashboard software, [and] highly customizable real-time data and solutions that solve issues across clients’ companies.”
Mauro Cretari, partner at Northfield, Ill.-based MSP CIOlanding, said the efficiency gains he has seen by using MSPbots’ platform have been significant.
“Before MSPbots.ai, our team was spending 60-plus hours a week on manual support ticket handling,” he said. “Using their platform, we’ve automated these tasks, freeing up our team for strategic work. The efficiency gain has not only saved time but also significantly improved client satisfaction with faster response times and superior service.”