Following up on its acquisition of RapidFire Tools last year, Kaseya has pledged to invest $10 million to drive a platform through which managed service providers (MSPs) can automate the management of compliance processes on behalf of their customers.
As part of that effort, Kaseya has appointed Max Pruger to be senior vice president and general manager of a new compliance division. Pruger, who was previously chief revenue officer for CloudJumper, a provider of desktop-as-a-service provider, is now returning for a second stint at Kaseya. Earlier this year, Kaseya picked up $500 million in additional funding to expand its operations.
At the core of the Kaseya strategy is RapidFire Tools, a provider of a platform for managing compliance that operates as a unit of Kaseya. That unit is led by RapidFire Tools founder Michael Mitel, who continues to serve as president of RapidFire Tools.
Kaseya CEO Fred Voccola says Kaseya view compliance management has the next major opportunity for MSPs to expand their portfolio of services. While there are many regulations ranging from the Health Insurance Portability and Accountability Act (HIPAA) to the General Data Protection Rule (GDPR) enacted by the European Union, many of these compliance mandates require organizations to implement a common set of controls.
Voccola says Kaseya is betting that as organizations continue to struggle with existing and new regulations such as the California Consumer Privacy Act (CCPA) that many organizations will seek to outsource a task that involves the processing of legal documents that validate what controls have been put in place.
“Compliance is really a lawyer’s game,” says Voccola.
Kaseya has about 400 MSP partners selling the RapidFire Tools service. Given the scope of the opportunity, Voccola says he expects that number to substantially increase in the months and years ahead. The $10 million investment will be employed to help MSPs set up these types of practices along with building out the infrastructure required to support them, says Voccola.
It’s not clear just how many MSPs will be comfortable navigating a compliance world where there’s a lot of potential liability. However, the more automated those processes become, the lower the potential risk for all concerned becomes.
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