Rewst – a purpose-built automation platform for Managed Service Providers (MSPs) – recently announced a $31 million Series B led by Meritech Capital, joining existing investors OpenView, TDF Ventures, and Florida Funders. This funding round will help accelerate Rewst’s growth and the value delivered to MSPs by expanding its product, customer success, education, and Robotic Operations Center (ROC) teams.
MSPs have been underserved by traditional Robotic Process Automation (RPA) vendors. This is because generic RPA tools are typically too expensive and resource-intensive for MSPs. And they also lack the multi-tenancy and native integrations unique to MSPs’ IT environments.
Launched in 2020, Rewst set out to solve these challenges by building the first purpose-built automation platform for MSPs. And with 45 out-of-the-box integrations to popular products like Acronis, ConnectWise, Datto, Duo, Huntress, ITGlue, Kaseya, Microsoft, OpenAI, Pax8, and SentinelOne, Rewst’s vendor-agnostic approach allows MSPs to connect their entire tech stack. Users can then automate end-to-end processes by installing pre-built automation or visually designing their own workflows and forms. The use cases include user onboarding/offboarding, billing reconciliation, adding/removing group membership, MFA alerting, just-in-time admin access, ticket categorization and prioritization, etc.
In under two years, Rewst has emerged as the de-facto leader in the MSP automation market with over 700 MSPs, a strong base in North America, and a growing foothold in the EU and APAC. And in a recent 30-day period, MSPs used Rewst to execute more than 46 million workflows, with self-reported time savings exceeding 251,000 hours. This figure included manual effort freed up by automation and high-hanging fruit previously ignored because the return was too low to do these tasks manually. In addition to time savings, MSPs benefit from consistent service delivery, reduced technician burnout, and enhanced customer satisfaction.
Rewst executed several initiatives last year to shorten the time to value and empower MSPs to be successful with automation, including:
1.) Crate Marketplace – Rewst released 50 pre-built automations, more than doubling its Crate Marketplace. Crates serve as ready-to-use templates, helping MSPs unlock immediate value.
2.) Cluck University – Rewst continued building the Cluck U training to help MSPs master the art of automation through live group sessions, self-serve videos, step-by-step guides, and more.
3.) Robotic Operations Center (ROC) – Rewst’s in-house automation experts assist customers in overcoming any hurdles during the automation process while building and maintaining Crates.
4.) RoboRewsty – The OpenAI-powered RoboRewsty is embedded in the platform to simplify the automation-building process, starting with automatic workflow documentation.
5.) App Platform – App Platform allows MSPs to visually design branded front-ends, or apps, for employees and customers to interact with Rewst workflows and forms.
KEY QUOTES:
“At this point, we’re averaging about 75 to 80 hours of time savings per week with Rewst. That’s 300+ hours saved per month, allowing us to focus on the tickets that need human intervention rather than wading through the endless noise from automated alerts.”
— Dustin Lepi, Automation Engineer at Network IT Easy
“Since serving the MSP market, they’ve become my favorite market. They know what they need, and they’ll tell you if you ask! Automation is at the top of the list right now. From the beginning, we’ve focused on building not just the best platform for MSPs but a community where users learn from, and support, one another. With this funding, we will continue building out our ROC, training, and product, adding dozens of new integrations and enhancing the workflow-building experience. Rewst will be around for a long time to come, helping MSPs to succeed with automation.”
— Aharon Chernin, Rewst’s CEO and founder
“We’re excited to partner with Aharon and the entire Rewst team. The tailwinds behind Rewst in the MSP space are massive; the technology surface area is growing, and MSPs are forced to do more with less. Automation is the key to unlocking efficiency, happy customers, and increased bottom lines. We spoke to many Rewst customers, both large and small, and the feedback was resoundingly positive. Rewst’s platform has become a no-brainer purchase for MSPs, and their pace of product development is unlike anything in the market today. This has created a vibrant community around the company. Additionally, we get excited about founders who are uniquely positioned to win a market, and Aharon represents that perfectly as someone who has seen this problem firsthand in the MSP space.”
— Alex Clayton, General Partner at Meritech Capital
