Kaseya Expansion Highlights TeamLogic IT Franchise’s Ongoing Growth
Longtime IT management platform developer’s successes will allow franchise owners to do more with its expanded operational services
When a TeamLogic IT technology franchise owner gets asked who the company does business with, he or she can provide a list of highly regarded, successful software, hardware and services vendors.
That’s good from a business sense, of course, and those same franchise owners also benefit from other partnerships TeamLogic IT has that are designed for more back-office functions. One of those is with Kaseya, an IT management platform developer, which recently won $500 million in funding for additional growth.
New funds will enhance current offerings
“Kaseya will use this investment and partnership to fuel growth … and increased R&D spending on cutting-edge, customer-centric products,” the company said, adding that the investment comes as the managed IT services community continues its own rapid growth.
The managed services market is expected to grow from $180 billion currently to $282 billion by 2023, a compounded annualized growth rate of 9.3 percent, according to research firm MarketsandMarkets, which provided commentary on the Kaseya expansion.
TeamLogic IT reaps benefits of longtime collaboration
For TeamLogic IT, Kaseya’s ongoing success validates the brand’s decision to utilize its technology early on, says Dan Shapero, President.
“We’re excited about what this investment means for Kaseya’s ability to continue to innovate offerings and to expand their acquisition strategy,” Shapero said. “We have confidence in Kaseya’s ability to identify acquisition targets that help the TeamLogic IT network grow profitably, and we place great value in Kaseya’s integrated platform for serving the evolving needs of [managed service providers]. I look forward to how [the company] will continue to innovate and expand to help us grow our business and support both our franchise owners and their customers.”
TeamLogic IT is the technology franchise small and medium-sized businesses increasingly rely on for turnkey support. TeamLogic IT’s managed IT services contracts give clients peace of mind about their technology needs, and provide franchise owners with a steady, predictable revenue stream. The company now serves a wide and growing variety of clients in every business sector, from tourism and hospitality to health care, legal and accounting. Along the way, TeamLogic IT has grown to more than 200 locations throughout North America and continues to expand in both new and existing markets.