U.S. Markets closed

Kaseya Ends 2019 with Over $2 Billion Valuation, Highest Revenue Growth in Company History, and Multitude of Cutting-Edge Product Innovations

Company reports 30 percent growth fueled by product innovation, strategic business expansion and acquisitions, and a deeper footprint in international markets

NEW YORK and MIAMI, Jan. 16, 2020 (GLOBE NEWSWIRE) -- Kaseya®, the leading provider of complete IT infrastructure management solutions for both managed service providers (MSPs) and internal IT departments, today announced record growth for 2019, with well over $300 million in annual bookings – driven by continued adoption and demand for Kaseya IT Complete, the industry’s most comprehensive, fully integrated IT management platform for MSPs and SMBs. These record sales showcase an organic growth rate of approximately 30 percent for the company, while adding over 5,000 new customers in 2019.

Other highlights fueled by the company’s stellar execution in 2019 include the acquisition of leading dark web monitoring and security vendor ID Agent, the development of six leading-edge, customer-centric products, the launch of a new multi-million-dollar Compliance business unit, and an expansion to Kaseya’s already global footprint.

This strong performance recently escalated Kaseya to the ranks of the coveted cybersecurity unicorn club, closing the year with a valuation over $2 billion.

“In 2019, we upped the ante through substantial investment in our customer-base and by developing new demand-driven products that completely revolutionize how MSP and IT professionals adapt to today’s complex technology demands,” said Fred Voccola, CEO of Kaseya. “As a customer-centric company, the success of our customers drives every decision we make. While we’re not perfect, I think we have done – and continue to do – a very good job of listening and innovating on behalf of our over 40 thousand-strong customer-base. I am incredibly proud of our accomplishments and humbled by the dedication from our more than 1,200 employees who work hard every day to personally drive the success of our customers. Together with this team, I look forward to even greater success in the year ahead.”

Milestones in Kaseya’s Corporate Momentum:

  • The acquisition of leading dark web and identity monitoring provider ID Agent further bolstered Kaseya’s integrated IT Complete Suite with new security offerings.
  • $10 million investment to strengthen Kaseya’s Compliance business unit dedicated to helping MSPs guide their customers through complex regulatory standards - one of the largest opportunities for recurring revenue for MSPs in the industry today.
  • Completion of a $500 million investment. This allowed Kaseya to earn the coveted unicorn status among cybersecurity tech companies with a current valuation of over $2 billion.  
  • The appointment of industry veteran Ronan Kirby as president and general manager of Kaseya’s EMEA division allows the company to double down on growth, customer service and investment in the rapidly growing region, with Europe remaining one of Kaseya’s fastest growing markets.

Product Launches and Expansions:

  • The launch of two first-of-its-kind compliance automation tools – Compliance Manager for Cyber Insurance and Compliance Manager for HIPAA helps MSPs and SMBs fully streamline complex liability claims and HIPAA compliance processes, leading to more profitability for MSPs.
  • Kaseya delivered the industry’s highest margins for channel partners with the Unitrends Xtra channel partner program - a 75 percent higher payback for partners’ backup and disaster recovery business compared to competing providers. In addition, the program allows partners to earn recurring revenue every time a customer purchases other products from the Kaseya IT Complete solution portfolio over the next three years.
  • The launch of Powered Services 2.0 offered the most comprehensive framework of go-to-market offerings in the industry, giving MSPs a critical edge to differentiate and build new recurring revenue streams across security, compliance, and backup.
  • The launch of a powerful new add-on for IT Glue, Network Glue, brought network discovery, documentation, and diagramming to the next level, moving the manual work of IT teams into an automated topology map for maximum efficiency.
  • Kaseya’s new direct-to-cloud backup solution, Unitrends Cloud Backup, offered MSPs unparalleled file recovery and protection from viruses, hackers, corruption and accidental deletion without the hassle of managing local backup storage.

Community Growth:

  • Kaseya had over 7,000 IT professionals attend its global series of Connect IT events.
  • The events spanned 45 cities and three continents including its Connect IT Global conference held annually in Las Vegas, Connect IT Europe held in Amsterdam, Netherlands and its inaugural Connect IT APAC conference in Sydney, Australia.

Industry Recognition:
Throughout 2019, Kaseya and its family of products received a multitude of top industry accolades highlighting its unparalleled innovation, service and leadership, including:

  • Kaseya’s EVP of corporate marketing, Taunia Kipp, selected as one of The Software Report’s Top 50 Women Leaders in SaaS
  • Kaseya VSA named Best RMM Offering with Kaseya IT Complete taking home Most Valuable Software at the European MSP Innovation Awards
  • Kaseya recognized as one of CIO Bulletin’s 30 Great Places to Work in 2019
  • ID Agent Vice President of Channel Success and Powered Services, Dan Tomaszewski, recognized as one of CRN’s 100 People You Don’t Know But Should
  • Kaseya BMS recognized as the Best SaaS Product for Business Management by the SaaS Awards
  • Kaseya’s RapidFire Tools named Security Solution of the Year at the European IT & Software Excellence Awards
  • Kaseya’s Unitrends recognized as the Editor’s Choice for Company of the Year at the Storage Awards
  • Kaseya’s Unitrends honored with a Gold Stevie Award for Customer Service Department of the Year for Computer Hardware and a Silver Stevie Award for Customer Service Department of the Year for Computer Software
  • Kaseya’s Unitrends named Most Innovative Managed Service Offering for Storage by the Managed Services and Hosting Awards
  • Kaseya’s RapidFire Tools recognized as a ChannelPro 2019 SMB All Star
  • Kaseya recognized as one of CIO Bulletin’s 10 Most Influential Companies of 2019

About Kaseya
Kaseya® is the leading provider of complete IT Infrastructure Management Solutions for managed service providers (MSPs) and internal IT organizations. Through its open platform and customer-centric approach, Kaseya delivers best in breed technologies that allow organizations to efficiently manage, secure, and backup IT. Kaseya IT Complete is the most comprehensive, integrated IT management platform comprised of industry-leading solutions from Kaseya, Unitrends, RapidFire Tools, Spanning Cloud Apps, IT Glue and ID Agent. The platform empowers businesses to: command all of IT centrally; easily manage remote and distributed environments; simplify backup and disaster recovery; safeguard against cybersecurity attacks; effectively manage compliance and network assets; streamline IT documentation, and automate across IT management functions. Headquartered in Dublin, Ireland, Kaseya is privately held with a presence in over 20 countries. To learn more, visit www.kaseya.com.

Media Contact
Katy Hoeper, PR Manager
Walker Sands
kaseyapr@walkersands.com


  • What's the Average 401(k) Balance by Age?
    Business
    Investopedia

    What's the Average 401(k) Balance by Age?

    It can be hard to determine exactly how much you'll need for your own post-career days, but finding out how others are planning—or not—can offer a benchmark for setting goals and milestones. k) Plan Balances by Generation The good news is that Americans have been making an effort to save more. According to Fidelity Investments, the financial services firm that administers more than $7.4 trillion in assets, the average 401(k) plan balance reached $106,000 in the second quarter of 2019.

  • 42% of people say this is why they aren't investing in the stock market
    Business
    Yahoo Finance

    42% of people say this is why they aren't investing in the stock market

    A recent JPMorgan Chase survey of about 1,200 investors and non-investors says it boils down to liquidity. The survey found that 42% of those who weren't investing yet were staying out of the stock market because they believed they didn't have enough money to invest. Kelli Keough, digital wealth management head at JPMorgan Chase, tells Yahoo Finance's “The First Trade” non-investors, those who are not in the stock market, say it's a struggle to save enough money to invest.

  • Best Buy launches investigation into CEO Corie Barry
    Business
    American City Business Journals

    Best Buy launches investigation into CEO Corie Barry

    Best Buy Co. Inc. CEO Corie Barry is under investigation by the retailer's board after it received an anonymous letter alleging an inappropriate romantic relationship between Barry and another executive before she became CEO last year. It claimed that she had been romantically involved with former Best Buy Senior Vice President Karl Sanft in the period before she took over as the company's CEO, the newspaper said. Best Buy's board has hired law firm Sidley Austin LLP as part of the investigation.

  • Business
    Benzinga

    Barron's Picks And Pans: Apple, Boeing, Disney, Tesla And More

    Barron's Roundtable panelist Rupal Bhansali's makes a case that Apple Inc. NYSE: AAPL) is disadvantaged on many fronts and trying to play catch-up in "Time to Short Apple, Says Rupal Bhansali. Yes, Short Apple."

  • Ocasio-Cortez sums up inequality in 5 words after Dow breaks through 29,000
    Business
    MarketWatch

    Ocasio-Cortez sums up inequality in 5 words after Dow breaks through 29,000

    That's “inequality in a nutshell,” according to Rep. Alexandria Ocasio-Cortez, who fired off those words in a tweet response to NBC's coverage of a fresh high for the Dow Jones Industrial Average (DJIA)on Friday. The New York Democrat was making the point that while the blue-chip index rallied more than 20% last year, U.S. average hourly earnings gained less than 3%. And since stocks are generally held by those with higher wealth levels, the data would support her “rich getting richer” stance.

  • NIO Stock Soars on Rumors of Potential Billion-Dollar Cash Infusion
    Business
    InvestorPlace

    NIO Stock Soars on Rumors of Potential Billion-Dollar Cash Infusion

    December's quarterly earnings report reignited the spark in NIO (NYSE:NIO) shares when it created an electrifying 54%, single-session gain. Since then, we've seen nothing but bullish behavior, with a second jolt arriving yesterday after rumors swirled that the Shanghai-based EV maker would receive a $1 billion cash infusion from GAC Group. Overnight selling created a down open that has since reversed, driving the  NIO American Depository Receipts (ADRs) up 1.86% on the New York Stock Exchange.

  • FCEL Stock Very Well May Be the Next Renewable Stock to Soar
    Business
    InvestorPlace

    FCEL Stock Very Well May Be the Next Renewable Stock to Soar

    FuelCell Energy (NASDAQ:FCEL) often gets compared to Plug Power (NASDAQ:PLUG). Both companies ostensibly are “fuel cell” plays, yet their operating models are completely different. After all, Plug Power uses fuel cell technology to power forklifts and other electric vehicles.

  • Disadvantages of Roth IRAs Every Investor Should Know
    Business
    Investopedia

    Disadvantages of Roth IRAs Every Investor Should Know

    A Roth IRA is a tax-exempt retirement savings account that holds investments that you choose using after-tax money. If you're thinking about opening an account, consider the disadvantages of Roth IRAs first. Roth and traditional IRAs are excellent ways to stash money away for retirement.

  • Dramatic video, truck crashes offroad near trooper
    U.S.
    Associated Press Videos

    Dramatic video, truck crashes offroad near trooper

    Officials in the US state of Iowa are urging people to use caution and stay indoors if possible as blizzard conditions continued to wreak havoc in northern and central parts of the state on Saturday. Jan.

  • Will you ‘feel pretty stupid’ holding cash? One trader revisits Ray Dalio’s laughable call and warns of a similar drop
    Business
    MarketWatch

    Will you ‘feel pretty stupid’ holding cash? One trader revisits Ray Dalio’s laughable call and warns of a similar drop

    Almost exactly two years ago, investing legend Ray Dalio turned heads with one of the worst short-term market calls in recent memory. The Bridgewater Associates founder, in an interview at the World Economic Forum back in January 2018, told investors that they were going to “feel pretty stupid” if they were holding cash as stocks climbed toward record highs. So, how stupid did they feel?

  • Why ‘irrationally bullish’ investors are getting nervous as the stock market races to uncharted territory
    Business
    MarketWatch

    Why ‘irrationally bullish’ investors are getting nervous as the stock market races to uncharted territory

    The Dow Jones Industrial Average (DJIA) traversed a milestone at 29,000, the S&P 500 index (SPX) followed with its own landmark turn above 3,300 and the Nasdaq Composite Index (COMP) is rallying like it is 1999. Another way to think about, the ferocity by which stocks have climbed in the first three weeks of this year, S&P 500 gains have already exceeded the 2020 estimates for nearly half the 18 analysts surveyed by MarketWatch. “We stay irrationally bullish until peak positioning & peak liquidity incite [a] spike in bond yields & 4-8% equity correction,” wrote analysts at Banc of America Securities on Friday in a weekly research report on the state of the market.

  • What's the Difference Between Retirement in Canada and America?
    Business
    Investopedia

    What's the Difference Between Retirement in Canada and America?

    Key Differences: Retirement Savings Plans When it comes to saving for retirement, Canada and America both offer individuals similar financial vehicles with similar tax advantages. Canada's RRSP vs. America's Traditional IRA In Canada, Registered Retirement Savings Plans (RRSPs) allow investors to receive a tax deduction on their yearly contributions. Money invested in the plan grows tax-deferred, which advances the benefits of compounded returns.

  • 3 “Strong Buy” Stocks for the 5G Revolution in 2020
    Business
    TipRanks

    3 “Strong Buy” Stocks for the 5G Revolution in 2020

    Investors in Tower Semiconductor stock can expect to see "low double-digit" organic growth in 2020, says Needham analyst Rajvindra Gill. And while that may not sound like much, it's significantly faster -- potentially as much as twice as fast -- as the 6.7% growth rate that most Wall Street analysts are expecting (which could mean additional upgrades will follow as Tower delivers on its promises). Tower aims to aggressively expand capacity at its factories churning out 200mm and 300mm chips to supply growing demand for 5G smartphones, which are experiencing "stronger than expected 5G proliferation."

  • Facebook sued to force Zuckerberg to give up control
    Business
    Yahoo Finance Video

    Facebook sued to force Zuckerberg to give up control

    Four tech firms are suing Facebook in an attempt to get CEO Mark Zuckerberg to relinquish control of the company and sell his majority stake. Yahoo Finance's Dan Howley joins Dan Roberts and Seana Smith on The First Trade to discuss.

  • The odds aren’t in stock-market investors favor, says billionaire Howard Marks
    Business
    MarketWatch

    The odds aren’t in stock-market investors favor, says billionaire Howard Marks

    Legendary investor Howard Marks likes to analyze probabilities and he's determined that when it comes to the stock market, chances of healthy, future returns are falling, he said in an interview with Bloomberg Television. In the Tuesday interview, Marks equated buying financial assets to games of chance like poker or Black Jack, where results are determined by “skill, luck, and hidden information.” He made a similar comparison in a quarterly report to investors.

  • Man who made a killing during financial crisis says that, at some point, the stock market will slow down — but, till then, ‘I love riding a horse that’s running’
    Business
    MarketWatch

    Man who made a killing during financial crisis says that, at some point, the stock market will slow down — but, till then, ‘I love riding a horse that’s running’

    The U.S. stock market has enjoyed a nearly uninterrupted assault on records, highlighted by the Dow Jones Industrial Average (DJIA) closing at a milestone above 29,000 for the first time and the S&P 500 (SPX) achieving its own landmark close above the psychological round-number at 3,300, while investors in the Nasdaq Composite Index (COMP) may have their sights trained on 10,000.

  • You Should Down Luckin Coffee Stock While It’s Hot
    Business
    InvestorPlace

    You Should Down Luckin Coffee Stock While It’s Hot

    Amid the much hyped but ultimately disappointing spate of initial public offerings stands Luckin Coffee (NASDAQ:LK). Since its IPO price of $17, LK stock has launched toward its present level above $45. Although China is traditionally a tea-drinking mecca, the Asian juggernaut has rapidly embraced Western cultural elements and products.

  • Will Roth IRA Withdrawals Be Taxed in the Future?
    Business
    Investopedia

    Will Roth IRA Withdrawals Be Taxed in the Future?

    Today, they offer some of the best tax advantages of any retirement account. The fear exists that Roth IRA withdrawals might somehow be taxed in the future. Under current tax law, you can withdraw Roth contributions and their accumulated earnings tax-free as long as you're at least age 59 ½ and it has been at least five years since you first contributed to a Roth IRA.

  • These 13 Tempting Dividend Stocks Torched Investors
    Business
    Investor's Business Daily

    These 13 Tempting Dividend Stocks Torched Investors

    Investors wound up losing money despite each of these stocks yielding 3% at the start of 2019 — because the stocks themselves plummeted. The SPDR S&P 500 ETF Trust, in comparison, started 2019 yielding just 2.01% (it's down to 1.7% now). Losing money especially stung in 2019, when the S&P 500 rose nearly 29%.

  • ‘I’m 22 with $70,000 in savings and investments, but I’m addicted to checking my brokerage accounts multiple times a day’
    Business
    MarketWatch

    ‘I’m 22 with $70,000 in savings and investments, but I’m addicted to checking my brokerage accounts multiple times a day’

    I do not want to live like that. I am addicted. I check my brokerage accounts multiple times a day and my mood is greatly affected by how the markets are doing.

  • Business
    Benzinga

    Bulls And Bears Of The Week: IBM, Microsoft, Tesla And More

    Also, the next phase of presidential impeachment process has begun. Benzinga continues to examine the prospects for many of the stocks most popular with investors. The following are just a few of this past week's most bullish and bearish posts that are worth another look.

  • 3 Buy-Rated Energy Stocks with Stellar Dividend Yield
    Business
    TipRanks

    3 Buy-Rated Energy Stocks with Stellar Dividend Yield

    It's a draw that naturally pulls them to dividend stocks. Dividend stocks don't offer the same high share appreciation as growth stocks, but they do offer a steady income stream. Utilities – electricity, water, and the like – are strong option for dividends – their reliable cash flows make it easy for them to maintain the payouts.

  • This U.S. company will benefit as China tries to catch up in semiconductors
    Business
    MarketWatch

    This U.S. company will benefit as China tries to catch up in semiconductors

    Nobody likes the Sword of Damocles hanging over them — certainly not if you are China, the second-largest economy in the world. The lifeblood of the modern economy is semiconductors. The U.S. dominates the semiconductor industry, and therefore China is highly dependent on U.S. companies.

  • 3 Factors to Consider Before Gambling on GE Stock
    Business
    InvestorPlace

    3 Factors to Consider Before Gambling on GE Stock

    Once an iconic industrial giant, few companies have suffered as ignominious a loss as General Electric (NYSE:GE). In fact, the GE stock price peaked in the 2000s era dot-com bubble, never threatening to regain its former glory. Not only did GE stock peak roughly 20 years ago, it plummeted following a sizable rally leading up to the 2008 financial crisis.

  • Toyota invests $700M, adds 150 jobs to bolster popular SUV
    Business
    American City Business Journals

    Toyota invests $700M, adds 150 jobs to bolster popular SUV

    Toyota Motor Co. is doubling down on its investment in the Hoosier State. The Japanese automaker said today it plans to add 150 new jobs and sink an additional $700 million into its Toyota Motor Manufacturing Indiana facility in Princeton, roughly 30 miles north of Evansville. In a release, the office of Indiana Gov. Eric Holcomb told us the investment will "support retooling, new equipment installation and advanced manufacturing technologies to further modernize the facility and meet consumer demand for the all-new 2020 Toyota Highlander." "Hoosier manufacturers are driving our economy forward, building the products that power our world every day," Holcomb said in the release.