Elevation, Matrix Partners co-lead $3m round of Indian enterprise SaaS firm

India’s SuperOps, a professional services automation (PSA) and remote monitoring and management (RMM) startup, said it has raised US$3 million in seed funding in a round co-led by Elevation Capital and Matrix Partners India.

Notable angel investors such as Kayako founder Varun Shoor, Kovai.co founder Saravana Kumar, POSist co-founder Ashish Tulsian, and Livspace founder Ramakant Sharma also joined the round, according to a statement.

SuperOps founder Arvind Parthiban / Photo credit: Elevation Capital

In addition to the new funding, SuperOps has formally launched its beta platform, which unifies managed service provider (MSP) tools into a single place. The startup said it built up its platform from the ground up as a unified PSA and RMM solution, unlike legacy software that stitches the two services together through acquisitions.

PSA and RMM tools are usually used to improve the productivity and efficiency of MSPs. PSA software can help companies reduce cash flow-related issues by automating repetitive tasks and reducing the likelihood of human error. Meanwhile, RMM tools are used to manage hardware remotely. This involves installing software and managing network activities, among others.

SuperOps will use the new funds to further expand its team, drive market adoption, and strengthen its research and development efforts in terms of product innovation and usability.

“Some of the leading companies championing legacy software include Kaseya, Datto, Connectwise, and Solarwinds. Despite new startups emerging to disrupt the space, their products are focused primarily on catering to large MSP businesses leaving the smaller MSPs to dry,” said SuperOps co-founder and CEO Arvind Parthiban.

With its platform, the company aims to capitalize on the growing managed services market worldwide, which is expected to reach a value of US$329.1 billion by 2025 to represent a compound annual growth rate of 8.1%.