Rewst Raises $21.5 Million Series A to Bring Automation to MSPs

TAMPA, Fla., Nov. 10, 2022 /PRNewswire/ -- Rewst, a robotic process automation (RPA) platform for managed service providers (MSPs), today announced $21.5M Series A led by OpenView. The funding will support Rewst's rapid growth and the continued buildout of their Robotic Operations Center (ROC) and product development.

"Until now, RPA hasn't been widely adopted in the MSP space due to a lack of multi-tenant support and inadequate integrations into the products that MSPs use," said Aharon Chernin, Rewst CEO and Founder. "Traditional RPAs require either a 'go-it-alone' approach with dedicated and trained staff to manage the product, or engaging a third party. We solved that by building a multi-tenant RPA platform, supported by the industry's first Robotic Operations Center (ROC)."

With deep integration into 30+ products that MSPs most frequently use, Rewst connects products to automate routine manual tasks that take up a lion's share of MSPs' time, such as:

• Onboarding/offboarding
• Phishing remediation
• License purchasing and reconciliation
• Billing reconciliation
• Approval processes

In addition to these time-saving automations, Rewst tackles high-hanging fruit: tickets that MSPs commonly ignore or never generate tickets for in the first place, simply because the return is too low for the time investment.

"Rewst is delivering a purpose-built automation platform to MSPs to help them solve some of their most critical business challenges," said Tom Holahan, Partner at OpenView. "We're excited to help Rewst expand their reach and to maximize the impact they'll have on MSPs and their end customers. Most importantly, we're excited to partner with Aharon and the rest of the team as they build a category-defining company."

"We have clients saving thousands of man-hours every month," Aharon added. "Now we're taking what we've learned about what our customers love, and throwing more fuel onto those areas to speed up delivery. We want the value of Rewst to be too good to pass up."

Founded in 2021 and based in Tampa, FL, Rewst brings accessible Robotic Process Automation (RPA) to Managed Service Providers. Boasting leadership with a track record of listening to and anticipating their MSP users' needs, the business is well-positioned to take on the challenge of shepherding RPA to its next evolutionary step. Read more about Rewst at https://rewst.io/ 

Founded in 2006, OpenView is a venture capital firm investing globally in business software companies. With a mission to improve people's working lives, OpenView's focused investment approach across sector and stage enables the firm to identify and partner with business software companies that it deems to be category leading. The firm's focus extends to operational excellence through its dedicated expansion team working with portfolio companies on go-to-market, sales and marketing, product-led growth, talent, and corporate development. The firm is based in Boston and has approximately $2.8 billion in total capital under management. For more information about OpenView and its portfolio companies, please visit https://openviewpartners.com/.

PRESS CONTACT: 
Gary Pica, Jr. 
VP Marketing for Rewst
(215) 520-3844
[email protected] 

SOURCE Rewst