Rewst Raises $31M in Series B Funding to Expand Operations
Rewst, a Tampa-based automation platform for managed service providers, has recently secured $31 million in a Series B funding round. This funding round, led by Palo Alto-based Meritech Capital, marks the latest investment in the company since 2022. Other existing investors, including OpenView, TDF Ventures, and Florida Funders, also participated in the funding round. The new capital will allow Rewst to expand its operations and hire additional staff in Tampa. The CEO and founder, Aharon Chernin, emphasized that the funding will enable the company to focus more on its customers and the development of its latest product, the Application Platform.
Meritech Capital Leads Funding Round for Automation Platform Rewst
Meritech Capital, a venture capital firm based in Palo Alto, has taken the lead in the recent funding round for Rewst. The firm expressed excitement about partnering with Rewst, citing CEO Aharon Chernin as a founder uniquely positioned to succeed in the market. Meritech Capital recognizes the massive potential for Rewst in the managed service provider (MSP) space, as automation becomes crucial for efficiency and increased profitability for MSPs. With technology playing an increasingly significant role in the industry, Meritech Capital sees Rewst as a key player in unlocking the benefits of automation for MSPs.
CEO Aharon Chernin Focuses on Customer Needs After Funding Round
Aharon Chernin, the CEO and founder of Rewst, expressed relief after securing the Series B funding. He highlighted that the funding was not a necessity for the company but rather a way for him to shift his focus back to serving the customers. Chernin mentioned that he can now prioritize customer needs instead of spending time and energy on closing investment rounds. The infusion of capital allows Rewst to invest in hiring more staff in Tampa and further develop its Application Platform. Chernin’s dedication to customer satisfaction showcases the company’s commitment to delivering exceptional solutions for managed service providers.
Meritech Capital Sees Massive Potential for Rewst in MSP Space
Meritech Capital, the lead investor in Rewst’s recent funding round, expressed excitement about the prospects of the company in the MSP space. The firm believes that the tailwinds behind Rewst are significant, as the technology surface area in the MSP industry continues to grow. MSPs are constantly seeking ways to do more with less, and automation is the key to unlocking efficiency, customer satisfaction, and increased profitability. Meritech Capital sees Rewst as uniquely positioned to meet these needs and believes that its technology will play a crucial role in shaping the future of the MSP industry.
Rewst CEO’s Previous Startup Perch Acquired by ConnectWise
Aharon Chernin, the CEO of Rewst, has a successful history in the technology industry. Before founding Rewst, he founded a cybersecurity startup called Perch, which was later acquired by Tampa unicorn ConnectWise. Chernin’s previous exit in the industry allows him to focus on the satisfaction of his team and customers this time around. While Tampa’s MSP ecosystem is thriving and continues to attract attention, Chernin is not looking to land another acquisition deal. Instead, his primary focus is on building a happy team, satisfied clients, and automating processes to enhance the efficiency of managed service providers.
Analyst comment
Positive news: Rewst Raises $31M in Series B Funding to Expand Operations
As an analyst, I anticipate that with the new funding, Rewst will be able to significantly expand its operations and hire more staff in Tampa. This will allow the company to focus on customer needs and develop their latest product, the Application Platform. The investment from Meritech Capital, along with other existing investors, showcases the market’s confidence in Rewst’s potential in the managed service provider (MSP) industry. The company is well-positioned to meet the growing demand for automation in the industry and play a crucial role in shaping its future.
