Rewst, a dedicated automation platform designed for Managed Service Providers (MSPs), has successfully raised $31 million in a Series B funding round. Meritech Capital led the investment, with participation from existing investors including OpenView, TDF Ventures, and Florida Funders.
The capital infusion will support Rewst in accelerating its growth and expanding the capabilities of its automation platform, providing increased value to MSPs.
Founded in 2020, Rewst addresses the unique challenges faced by MSPs in automating repetitive processes. Traditional Robotic Process Automation (RPA) tools often fall short for MSPs due to their high cost, resource intensity, and a lack of multi-tenancy and native integrations tailored to MSPs’ IT environments. Rewst aims to fill this gap by offering the first purpose-built automation platform specifically designed for MSPs.
Key features of the Rewst platform include 45 out-of-the-box integrations with popular products such as Acronis, ConnectWise, Datto, Duo, Huntress, ITGlue, Kaseya, Microsoft, OpenAI, Pax8, and SentinelOne. The platform’s vendor-agnostic approach allows MSPs to connect their entire tech stack, automate end-to-end processes, and design custom workflows and forms. Common use cases include user onboarding/offboarding, billing reconciliation, MFA alerting, just-in-time admin access, ticket categorization and prioritization, and more.
Rewst has gained significant traction in the MSP market, with over 700 MSPs utilizing the platform. The company’s strong presence in North America is complemented by a growing foothold in the EU and APAC regions. In a recent 30-day period, MSPs executed over 46 million workflows using Rewst, resulting in reported time savings exceeding 251,000 hours. This includes the automation of manual tasks and the handling of high-hanging fruit that was previously ignored due to low manual efficiency. Rewst’s platform contributes to time savings, consistent service delivery, reduced technician burnout, and enhanced customer satisfaction for MSPs.
Aharon Chernin, CEO and founder of Rewst, expressed excitement about the funding round, emphasizing the company’s commitment to building a robust Robotic Operations Center (ROC), enhancing training and product offerings, and expanding integrations. The funding will support Rewst in its mission to empower MSPs with automation, enabling them to succeed and thrive in the evolving landscape.
Alex Clayton, General Partner at Meritech Capital, shared enthusiasm for the partnership, citing the significant market opportunities for Rewst in the MSP space. Clayton highlighted Rewst’s positive customer feedback, vibrant community, and the company’s unique positioning to address the growing demand for automation in the MSP sector.