We’re excited to share a big moment in Thread’s journey: we’ve raised an $18 million growth equity investment led by Susquehanna Growth Equity (SGE) with participation from Headline. This round brings our total capital raised to $30 million and represents far more than funding — it’s validation of a vision we’ve believed in from day one.
MSPs are at a breaking point. Client expectations are climbing, infrastructure is getting more complex, and labor costs are rising fast. The old way of running a service desk — more tickets, more tools, more triage — simply wasn’t built for the world MSPs operate in today.
The Problem: A Service Desk Built for a Different Era
Today, North American MSPs deliver more than $300 billion in IT services, with nearly 30% of that work tied to the service desk. And yet, the service desk remains one of the most constrained parts of the business.
Staffing shortages, inefficient handoffs, disconnected tools, and limited visibility have turned what should be a growth engine into a bottleneck. Legacy platforms scaled the chaos. More noise. More overhead. Less clarity.
That’s exactly what Thread set out to change.
Thread as the “System of Action” for MSPs
We give partners a live, operational view of what’s really happening inside their service delivery engine. Every conversation, every call, and every ticket gets transformed into structured service intelligence. That intelligence then powers automation, decision-making, and real-time action.
Michael Evers, Thread’s CEO, has said it best: the service desk became the bottleneck because MSPs were asked to do more with the same people and outdated tools. Thread captures the full story of every interaction and uses agentic AI to act on that intelligence as it happens rather than after the fact.
The goal is to help MSPs reach a future where 25% automation and profitable scale are standard.
From Conversations to Agentic AI
Our journey started where real work happens: inside Teams, Slack, chat, and modern collaboration tools. That’s where we brought service intelligence directly into triage and technician workflows, instead of forcing people to jump between systems.
Now, we’re evolving fast.
We’re expanding into Agentic AI, where autonomous digital workers own and execute entire workflows end-to-end. We’re also moving into Voice AI, transforming phone-based support from one of the most expensive, manual channels into a truly AI-first experience.
This isn’t automation for the sake of automation. It’s about creating a smarter, calmer, more scalable way to deliver service.
Turning Service from Cost Center to Growth Engine
Thread unifies agents, processes, and data into a single service intelligence fabric that learns from every interaction. That lets MSPs automate ticket creation, routing, documentation, and even resolution, dramatically reducing per-job costs while increasing service quality.
Instead of reacting to fires all day, teams can shift into proactive and predictive service models. Instead of burning technicians out, MSPs can turn non-billable work into revenue-generating time.
Built with MSPs, Proven in the Real World
Thread has already supported over 600 MSPs, and what we’ve learned alongside them has shaped everything we’re building.
As our COO and Co-founder Matt Linn often says, MSPs don’t need another ticketing platform — they need real service intelligence that makes their teams faster and their businesses more profitable.
Our Chief of Magic and Co-founder Mark Alayev has been equally clear: this funding lets us go deeper, build more powerful products, and create AI-driven service experiences that feel more human, not less.
Why This Investment Matters
We’re proud to partner with SGE on this next chapter. Their belief in our team and our technology reinforces that the future of MSP service is based on intelligence, automation, and real-time action.
This investment gives us the ability to expand faster, hire world-class talent, and bring our vision of AI-native service delivery to more MSPs across the world.
The Future of Service Starts Now
The MSP industry is entering a new era, and Thread is building the foundation. A future where service desks aren’t buried in noise. Where teams aren’t stretched thin. Where scale doesn’t require burnout.
If you’re ready to move beyond reactive ticketing and see what an AI-first service desk actually looks like, book a demo with Thread and experience the future of MSP service for yourself.
Read the full story on Axios and check out the press release on Business Wire to learn more.
