LabTech Software, a Toledo, OH-based company which provides a Managed Services software application for remote monitoring, management and automation, has received an undisclosed amount of funding from ConnectWise Capital, the funding arm of ConnectWise.
ConnectWise provides a business operating system designed exclusively for IT service providers, MSPs, technology consultants, integrators and developers. It integrates CRM, sales, help desk tickets, projects, managed services, SLAs, dispatching, time and expenses to streamline IT companies.
LabTech Software is the second partner to receive funding from ConnectWise Capital, which was formed to incubate innovative solutions developed by ConnectWise’s partners.
It manages a $20m fund which targets emerging products and services that create market advantage and new opportunities for the IT Channel.
Commenting on the transaction, David Bellini, the ConnectWise co-founder who leads ConnectWise Capital, was quoted as saying. “Our funding of LabTech will sharpen our ability to integrate with all Managed Service solutions.
“Our APIs will continue to be open and available to all Managed Service tools and we will continue to work closely with all of our integration partners to increase choice.
“We are starting to see MSP tools becoming targeted and vertical, so expanding choices for the IT channel is very important”, he added.