Last week, ElectroNeek, an RPA vendor specifically aiming at managed service providers (MSPs) reported a successful launch into two new regions, Latin America and India. Just a few days later, we’ve got the news that startup Rewst, also concentrating its efforts at MSPs, closed $2.5M Seed Funding. Let’s take a closer look at both facts.
Since launching into these two regions in the summer of 2021, ElectroNeek has formed 10+ partnerships in LatAM with MSPs in Mexico, Brazil, and Chile to bring next-gen automation solutions to local businesses. Key partners include Compasso, a significant player in the Brazilian MSP space serving 50 of the largest companies in Brazil, and Auditar, a Chilean tech firm that successfully leveraged ElectroNeek bots to minimize standard ERP processes from weeks to days. Similarly in India, ElectroNeek has partnered with established MSPs such as Digital Leaf and Valenta BPO to provide business and technical expertise and support designed to bring affordable RPA solutions to businesses across the region.
As for Rewst, this startup was founded just a few months ago. Its two founders have long ties to the MSP community: the CEO Aharon Chernin, the founder of Perch, an IT security company that was acquired in 2020 by ConnectWise; and Gary Pica, a long-time fixture in the MSP industry who in May sold his TruMethods MSP coaching and mentoring firm to Kaseya. The funding of Rewst mentioned above was led by venture capital firm Florida Funders. If we plus the $1 million invested by the company’s founders, a total of $3.5 million has been invested in the company.
Rewst is looking to bring robotic process automation down-market to the general MSP community just like Perch did with high-end security tools. After Perch was acquired by ConnectWise, Chernin was looking at what else could be brought down-market MSPs, and saw the answer in robotic process automation:
“Low-code and no-code is an attempt to make RPA easier to move down-market. But low-code and no-code are still complex and MSPs need to hire talent to use them. The point of RPA is not to hire people. We use low-code and no-code to develop it and advanced users have access to it, but that‘s not the primary method to use Rewst.”
Rewst is working exclusively with MSPs and is planning to take its time bringing its RPA technology to MSPs using what Chernin called a “concierge” method.
“Instead of opening the flood gates on something MSPs really haven‘t done before, we are going to bring the first MSP on, get them set up, then bring in the next, and so on.”
Aharon Chernin, CEO, Rewst