Thread announces seed funding to enable IT Managed Service Providers to deliver service magic
NEW YORK, NY, Nov. 9, 2022 /ChannelE2E/ -- Today, Chatgenie announced their rebrand to Thread, as it introduced the launch of the world’s first Service Collaboration Platform made exclusively for IT Managed Service Providers (MSPs). In addition, Thread announced the closing of $2.7 million in funding to fuel its growth.
Thread’s mission is to enable MSPs to deliver service magic. MSPs today find it more challenging than ever to deliver great service, as many of their customers are rapidly adopting new technologies and shifting their workflows onto collaboration platforms like Slack and Teams. While these customers have seen internal collaboration flourish, their MSPs remain on the outside looking in. MSPs are creating friction for their customers by making them leave their new workflows to seek service. And at the same time, MSPs are struggling to manage the volume of new requests and scale their service teams, further degrading the service experience. MSPs need a new service model to deliver great service, and Thread is responding to this need.
Thread’s service model stems from the realization that ticketing systems were intentionally designed to disconnect people, and it fell on the users to solve for how to reconnect. Thread launched the world's first Service Collaboration Platform with a radically different thought: to keep people connected—the right people at the right time. Thread uses conversational threads to bridge across communication channels to match a technician best in a team to resolve the incoming request. Customers can now have a conversation with the right person to resolve their issue faster than ever, without even leaving their workflow. For MSPs, providing better service and faster resolution times is no longer a trade-off—and shifts the economic model to power growth and scale in their business.
"Today, MSPs are leveraging automation tools, enhanced security platforms, and cloud based software, but when you look at how we, as an industry, still deliver service and interact with our customers, we continue to do so via tickets. As more-and-more customers use platforms like Slack and Teams, we see customers demanding that we meet them where they are and where they work” said Mark Alayev, Co-founder & CEO of Thread. “Therefore, we see the problem to solve as how do we help MSPs connect the right person at the right time? That’s why we started Thread, so MSPs combine multiplayer collaboration and dynamic service queues to unlock new, more scalable models.”
Thread was founded by Mark Alayev and Matt Linn, who met while serving in leadership roles at RFA, a global MSP based in New York. They are joined by Kristof Orts, Head of Design, and Vyacheslav Alayev, Head of Engineering. With this raise, Thread welcomes Bobby Jacobs as Head of Growth, formerly of Liongard; and Stephen Boss as Head of Customer Success, formerly of Mange Infinity (MSP). Thread is actively recruiting to further build its team.
The financing round was co-led by Integr8d Capital, a seed-stage venture firm; and MSP veterans David Bellini and Adam Slutskin. In addition, five of Thread’s MSP customers participated in the round.
"The more and more we spoke to MSPs, it was clear that meet customers where they work will quickly become essential, must-have for MSPs." shared John (JR) Reale, Jr., Managing Director at Integr8d Capital, who also led Liongard’s seed round of funding. “Through our deep cycles with Matt, Mark, and the rest of the team for the last year, we believe their insights will truly transform how MSPs service their customers. We love their mission. We are thrilled about our partnership and the prospects ahead for Thread.”
As part of the financing, both Reale and Bellini joined Thread’s board of directors.
“So much of modern business communications has moved to Slack, Teams, and mobile messaging. Thread allows MSP’s to adapt to this new paradigm elegantly," said David Bellini, investor and CEO of CyberFox, and who previously co-founded ConnectWise and served as its President & COO, "Thread will help MSPs differentiate themselves until ultimately, the entire market makes this shift. We're so excited to be part of Thread and the mark it will make on our industry.”
Thread launches with publicly available Microsoft Teams and Slack applications; integrations with leading professional services automation (PSA) platforms in ConnectWise Manage, Kaseya BMS, and Datto Autotask; remote monitoring and management (RMM) platform ConnectWise Automate; and network monitoring leader Auvik. It plans to expand available ecosystem integrations to help its partners resolve service requests faster by surfacing the most relevant information and actions from the right MSP tool, at the right time.
About Thread
Founded in 2019, Thread’s mission is to help MSPs deliver IT service magic. Thread enables multiplayer Service Collaboration between Managed Service Providers (MSPs) and their customers.
About Integr8d Capital
Early-stage capital, long-term partners. Integr8d Capital’s mission is to partner with founders to help them realize their visions. We believe that enduring businesses are built with intentionality. We partner with founders in their earliest stage to help them build the future.
PRESS CONTACT:
Matthew Linn
Cofounder, COO
matt@getthread.com
(445) 244-3875
SOURCE:
Thread
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