Augmentt Secures Significant Funding to Enhance Security Solutions
Augmentt, a rapidly-growing SaaS company, has successfully raised a remarkable CAD $18 million in a Series A financing round. This substantial investment was spearheaded by Camber Partners, a prominent growth equity firm based in New York City. The funding is set to scale Augmentt's innovative security automation for Managed Service Providers (MSPs), enabling them to better secure their clients’ Microsoft 365 instances.
The influx of capital will empower Augmentt to expedite its product roadmap significantly, allowing for expanded go-to-market strategies and stronger partnerships. This development comes in response to an increasing demand from MSPs for a unified solution that fosters effective tenant posture monitoring and management.
According to Derik Belair, the CEO of Augmentt, the partnership with Camber marks a pivotal moment in Augmentt's journey. He expressed enthusiasm about the collaboration, stating, "We look forward to leveraging Camber's extensive operational expertise as we strive to innovate for MSPs, enhance customer success, and expand our global reach."
Duncan McGillivary, the Vice President at Camber Partners, lauded Augmentt's capabilities, highlighting the team's deep industry knowledge and a proven history of remarkable execution. He expressed confidence in Augmentt’s vision and the critical product they offer to streamline MSP workflows, which is set to foster a new era of service excellence and heightened security for businesses worldwide.
The current landscape for MSPs is fraught with challenges. They face increasing costs, intensifying competition, and stricter regulations. In tandem, clients are demanding more sophisticated services, including quicker response times, enhanced security postures, and greater visibility into their cloud environments. Augmentt equips MSPs with the necessary tools and automation to meet these multifaceted demands, allowing for seamless, secure, and profitable managed services.
Gavin Garbutt, the Chairman of Augmentt, remarked on the pressing needs of modern MSPs. "These providers form the backbone of contemporary IT delivery and cybersecurity. However, they're often under pressure to accomplish more with fewer resources," he noted. Garbutt emphasized Augmentt's mission to empower MSPs through automation and visibility across the Microsoft ecosystem and the broader cloud. The recent funding is a significant step towards fulfilling this mission and continuing to develop premier Microsoft security tools that MSPs require.
About Augmentt
Located in Ottawa, Augmentt is a multi-tenant Microsoft 365 security and compliance management platform. It is designed specifically for MSPs to facilitate the delivery of standardized, profitable Microsoft 365 services for all clients. The platform allows partners to secure, monitor, and manage Microsoft 365 environments effectively at scale.
About Camber Partners
Camber Partners is dedicated to collaborating with growth-stage B2B SaaS companies by providing flexible capital and focused go-to-market resources to ensure sustainable growth. The firm leverages its deep operational expertise across various domains such as sales, marketing, growth, and product development to support its portfolio companies.
Frequently Asked Questions
What is Augmentt’s recent funding amount?
Augmentt has raised CAD $18 million in Series A funding.
Who led the recent funding round for Augmentt?
The funding round was led by Camber Partners, a growth equity firm from NYC.
How will Augmentt utilize the new funding?
The funding will accelerate product development, expand market operations, and strengthen partnerships.
What challenges do MSPs face in the current environment?
MSPs face rising labor costs, increased competition, and more complex client demands.
What solutions does Augmentt provide to MSPs?
Augmentt offers tools for tenant posture monitoring and security automation for Microsoft 365 services.
