Home Rewst Continues to Raise Funding, This Time for $21.5 Million

Rewst Continues to Raise Funding, This Time for $21.5 Million

by Ant Sh
Rewst Continues to Raise Funding, This Time for $21.5 Million

The RPA Startup Rewst, which is a Managed Service Provider-focused company that brings Robotic Process Automation to life for MSPs, has recently received $21.5 million in funding to advance product development. The funding, which was led by OpenView, will support rapid growth and the continued build out of the firm’s robotic operations center (ROC). Rewst’s valuation was not disclosed, and its funds raised to-date total $29 million.

Most RPA software companies like UiPath, SS&C Blue Prism, among others — have focused on the enterprise market. While popular, those enterprise solutions often require users to learn new coding-types of techniques, and the offerings often lack MSP-centric capabilities. In stark contrast, Rewst is seeking to make RPA software easily consumable by MSPs and the SMB customers they serve. In a prepared statement about Rewst’s strategy, CEO and Founder Aharon Chernin said:

“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. 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).”

Rewst’s software now integrates with more than 30 MSP-oriented software products and platforms. Early automation use cases, according to the company, involve:

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

Still, Rewst isn’t alone in the next-generation MSP automation market. Other noteworthy players in various MSP software segments include AlertOps, ElectroNeek, HumanizeIT Liongard, Pia, Thread (formerly Chatgenie) and Vonahi Security, among many others.

“Rewst is delivering a purpose-built automation platform to MSPs to help them solve some of their most critical business challenges. 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.”

Tom Holahan, Partner, OpenView

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