Rewest, a Tampa, FL-based provider of an automation platform for managed service providers, raised $45M in funding.
The round, which brought the total raised to $104m, was led by Sapphire Ventures, with participation from existing investors Meritech Capital and OpenView.
The company intends to use the funds to accelerate the pace of innovation for its RPA platform while investing in community, education, and support to help MSPs drive optimal business value from automation.
Founded in 2020 and led by CEO Aharon Chernin, Rewst specializes in providing a purpose-built automation platform for Managed Service Providers to improve operational efficiency, service delivery, and customer satisfaction. Using Rewst, MSPs can connect their tools and automate end-to-end processes, either by installing pre-built automations (called Crates) or by building their own custom workflows. Since its founding, the company has continually innovated its platform driven by a focus on listening to customers, encouraging feedback, and building in public. Additional innovations include RoboRewsty, which harnesses OpenAI to simplify the automation-building process; Custom Integrations, which generates actions that can be used in workflows by dragging and dropping a Swagger or OpenAPI doc; and Version Control, which allows users to see their workflow history, select a prior version, and revert with just a click.
The funding followed Rewst’s rapid growth. In the first half of 2024, Annual Recurring Revenue (ARR) grew 182 percent year over year, while total customers increased 204 percent. The company doubled its headcount, building out its Engineering, Customer Success, Education, and Robotic Operations Center (ROC) teams to ship more features faster, and better support its customer base. Today, Rewst has more than 900 MSPs, with a significant base in North America and a presence in the EU and APAC.
The company offers a variety of channels for MSPs to connect with, learn from, and support each other. Currently, 92% of customers participate in its Discord server, with more than 2,000 users answering questions, troubleshooting issues, and sharing ideas. Rewst also hosts a weekly Open Mic call, where MSPs demo workflows they’ve built, inspiring their peers with additional ideas for processes to automate.
