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Connectwise funds another services-focused start-up

A second managed services infrastructure company, LabTech Software, has snagged an investment as part of ConnectWise Capital, which is managing a $20 million fund focused on incubating “innovative solutions” for the IT channel.

LabTech develops what is described as a remote monitoring, management and automation tool. The software integrates directly into the ConnectWise professional services automation (PSA) platform, which is used by VARs, resellers, MSPs and other IT service providers to schedule and manage their services business. The amount of the investment was not disclosed.

ConnectWise earlier invested in CharTec, which bills itself as a “hardware as a service” provider. The company has developed a model to help IT services companies offer hardware and software to their customers with no upfront cost. Again, the companies didn’t disclose the amount invested.

I spoke with the Bellini brothers (Arnie and David) in January about the motivation behind the fund, and they say it is pretty simple: “We have become a lightning rod for ideas from the IT channel FOR the IT channel, and we want to incubate the innovation that is bubbling up,” says Arnie Bellini, CEO of ConnectWise.

ConnectWise co-founder David Bellini, who is managing the fund, says investments are being chosen on a case-by-case basis although he is particularly interested in ideas relating to cloud computing solutions and extending the influence of managed services. “Anything that lets the IT nation take advantage of these shifts or that can create new and profitable practices inside their company,” says David Bellini.

Incidentally, if you want to pitch an idea, you can e-mail information here.

Check out more IT channel news on SearchITChannel.com and follow us on Twitter. You can follow Heather Clancy directly, as well.

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