ScalePad raises equity investment from Integrity Growth Partners
The is the first time ScalePad has raised outside capital since its founding six years ago.
Vancouver-based ScalePad, which provides a SaaS platform that automates hardware, software, and warranty asset lifecycle management for managed services providers (MSPs), announced an equity investment from Integrity Growth Partners (IGP).
The is the first time ScalePad has raised outside capital since its founding six years ago. The specific value of the investment was not disclosed.
Why it matters: The rise of telework and distributed teams has increased the role MSPs play in managing technological adoption and maintenance worldwide. As such, products like ScalePad's, which help MSPs automate processes and uncover insights, are taking on increasing value with enterprises.
Details: ScalePad’s partnership with IGP will enable accelerated growth in key business areas while allowing ScalePad to remain independent and founder-led, according to a company statement.
ScalePad provides a powerful and intuitive SaaS platform for MSPs that automates asset lifecycle management across hardware, software and warranty services. It uses reports to communicate asset status to customers and helps them make important IT decisions and investments. Today, ScalePad's asset lifecycle management products are utilized by over 8,500 MSP partners in 76 countries, including 60% of the MSP 501.
Inside insight: "We believe that IGP's investment and knowledge will help us continue to execute on our vision to bring the ScalePad platform to more partners worldwide while continuing to build out and innovate on our product suite," said Chris Day, Co-Founder of ScalePad. "Our innovative technology and deep domain experience allow us to deliver tremendous advantages for our partners. We are thrilled to be working alongside the team at IGP and look forward to accelerating our growth and rising the tide in the MSP software space."
"We are incredibly proud of the industry-leading products we have built by staying laser-focused on the needs of our MSP partners," said Dan Wensley, CEO of ScalePad. "In choosing a partner, it was imperative for us to find one who brings meaningful strategic insight to the table while also enabling ScalePad to continue to run and grow independently."
The money talks: "We are thrilled to lead the first investment in ScalePad and to partner with the amazing ScalePad team," said Doyl Burkett, Founder and Managing Partner of IGP. "Founders and management teams who are experts in their space and have identified opportunities to better improve processes in their own industry bring to market a unique perspective that directly benefits their customers. The ScalePad team truly understands the pain points of today's MSPs, and we see tremendous opportunity with this team as they continue to execute on their impressive vision."