Thread, an AI service desk platform built for managed service providers, has raised an $18 million in growth equity investment led by Susquehanna Growth Equity, with participation from Headline, as the company accelerates development of its Service Intelligence platform and agentic AI products to modernize how MSPs deliver support.
The round brings Thread’s total capital raised to $30 million, and the company said the new funding will be used to expand product development to help MSPs shift from traditional, reactive ticketing to more automated, intelligence-driven service operations. The company positions its platform as a “system of action” for MSPs by capturing and structuring the information contained across day-to-day customer interactions, including conversations, calls, and tickets, and then using that intelligence to drive workflow execution.
Thread is targeting a problem MSPs routinely cite as core to their economics: rising client expectations for fast, personalized support, increasing labor costs, and the growing complexity of customer environments. Thread says its approach is designed to reduce per-job costs and improve service outcomes by turning unstructured support interactions into actionable data that can automate service desk work such as ticket creation, routing, documentation, and resolution.
The company initially focused on communication workflows, aiming to meet technicians and end customers within the tools they already use, including Teams, Slack, and chat, while embedding intelligence into triage and technician processes. Thread has also expanded into voice, launching Voice AI to automate and enhance phone-based support, which MSPs often describe as one of the most manual and expensive service channels.
Susquehanna Growth Equity said it views Thread as a beneficiary of a broader shift inside the MSP ecosystem toward AI-driven service delivery, and the firm is backing Thread’s plans to scale platform capabilities and broaden adoption across MSPs seeking higher throughput without proportionally increasing headcount.
KEY QUOTES:
“MSPs are continually asked to do more for their customers with the same people and the same tools. Thread is changing that by becoming the service intelligence layer and system of action. We capture the full story of every interaction and enable MSPs to provide a rapid, world class service experience to their customers.”
Michael Evers, CEO of Thread
“MSPs do not need another ticketing tool. They need Service Intelligence that actually makes their teams faster and their businesses more profitable.”
Matthew Linn, Chief Operating Officer and Co-founder of Thread
“Thread remembers every ticket, learns from every outcome, and feeds that intelligence back into digital workers and agentic AI that can take action. This investment allows us to go even deeper and expand our product surface, and build an AI-powered service experience that feels more human to the end user, not less.”
Mark Alayev, Chief of Magic and Co-Founder
“Thread is at the forefront of one of the most important shifts in the MSP ecosystem: the evolution from reactive ticketing to intelligent, AI-driven service delivery. The team has demonstrated remarkable execution and vision building the market leading solution, and we’re thrilled to support Thread as it scales its platform, expands capabilities, and helps thousands of MSPs deliver smarter, faster and more profitable service.”
Joe Mihm, Investor at Susquehanna Growth Equity
