Datto (company)
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Software |
| Founded | 2007 in Norwalk, Connecticut, U.S. |
| Founder | Austin McChord |
| Headquarters | , U.S. |
Areas served | Worldwide |
| Products |
|
| Revenue |  $618 million (2021) |
| $51 million (2021) | |
| Total assets | $1.962 billion (2021) |
| Total equity | $1.811 billion (2021) |
Number of employees | 2,089 (December 2021) |
| Parent | Kaseya |
| Website | datto |
| Footnotes / references [1] | |
Datto, Inc. is an American cybersecurity and data backup company.[2][3] In 2017, it was acquired by Vista Equity Partners.[4] In 2022, it became a subsidiary of Kaseya.
Datto builds hardware and software for both data backup and recovery purposes.[3][5] Datto RMM is a cloud-based remote monitoring and management platform that allows managed services providers to manage IT infrastructure with automation tools like networking monitoring, patch management, remote control and mass script deployment.[6] Datto RMM includes policy-based Windows and third-party software patching where partners have the option to store patch updates on the local area network (LAN) to reduce bandwidth utilization or download them directly from Microsoft.[7]
History
[edit]Founding of Datto
[edit]Datto was founded in 2007 in Norwalk, Connecticut, by software programmer Austin McChord. McChord initially built and marketed his own hand-made data backup devices. After securing his first customers in 2008, he built a system that allowed for data synchronization between two computers, before building a version of Zenith InfoTech that ran on Linux.
By the end of 2009, the company had $70,000 in monthly sales. When a new Datto product in 2010 caused old systems to crash, a replacement system was designed from scratch: SIRIS was released several months later as a free upgrade.
In 2011, sales were $9 million. The following year, they were $25 million.[8]
In July 2013, Datto acquired its UK distributor, Paradeon Technologies, expanding the company internationally.[9]
In September 2013, the company raised $25 million in its first round of venture capital financing, which was led by General Catalyst Partners. The established business model sold products primarily through managed service providers.[10] By 2013 the company was continuing to focus on small and mid-size businesses, with clients such as Susan G. Komen for the Cure and several NFL teams.
In 2014, Datto Inc. purchased Backupify, a cloud-to-cloud backup company. Backupify focused on backing up data on servers, complementing Datto's focus on local or private clouds.[3]
In November 2015, the company garnered $75 million in a Series B funding round mostly led by Technology Crossover Ventures.[3] In 2015, it became Connecticut's first "unicorn" company.[3][4]
Datto expanded into Australia and New Zealand by opening a new office in Sydney in late 2015.[11]
Datto had 550 employees by November 2015.[12]
In June 2016, Datto released SIRIS 3 x 1 as the first available all-flash BCDR product with ransomware detection capability.[13]
In July 2016, Datto opened its EMEA headquarters in Reading. Datto also opened data centers in Iceland and Germany and signed new distribution deals in Spain and Greece.[14]
In October 2016, the company released its SIRIS 3 data protection platform.[15]
Datto had 700 employees by January 2017.[16]
In January 2017, Datto acquired Open Mesh.[17]
In September 2017, Datto opened an office in Amsterdam to serve the Benelux regions.[18]
Datto had 883 workers by October 2017, 434 of whom were in Norwalk.[19]
Datto was acquired by Vista Equity Partners for around $1.5 billion in late 2017. As part of the deal, Datto merged with the Vista portfolio company Autotask Corporation and Austin McChord remained CEO of the combined company.[4]
McChord resigned as CEO in October 2018, remaining on the board.[20] In January 2019, following the announcement of McChord’s departure, Datto named Tim Weller as its new CEO. Weller joined Datto in 2017 as chief financial officer before stepping into the chief executive role. Before joining Datto, Weller was CFO at Akamai Technologies, where he led its initial public offering, and CFO at clean energy technology company Enel X.[21]
Datto acquired Gluh, an Australian company, in July 2020. Gluh’s platform enables MSPs to simplify the procurement of IT products and services for their customers.[22]
In October 2020, Datto became a public company via an initial public offering on the New York Stock Exchange, selling 22 million shares to raise $594 million.[23]
In January 2022, Datto acquired Infocyte, an Austin-based threat detection and response company.[24][25]
In June 2022, Datto was acquired by Kaseya in a $6.2 billion transaction.[26]
See also
[edit]References
[edit]- ^ "DATTO HOLDING CORP. 2022 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission.
- ^ "Top midsize employer: Datto thrives by inspiring its people to do well". democratandchronicle.com.
- ^ a b c d e "Datto Snags $75 Million to Fund Geographic Expansion". Fortune. November 17, 2015.
- ^ a b c Jones, Harriet (November 27, 2017). "Record Breaking Connecticut Start-Up Business Is Sold". WNPR.
- ^ "Datto to add 200 jobs downtown". democratandchronicle.com.
- ^ "Report: Cloud backup software company Datto files for initial public offering". SiliconANGLE. 2020-07-14.
- ^ "5 RMM tools MSPs can use to bolster client IT infrastructure". SearchITChannel.
- ^ "Datto: The Secret Tech Money-Making Machine You've Never Heard of". Forbes.
- ^ "Datto buys Paradeon Technologies". Insider Media Ltd.
- ^ "Datto Scores $75 Million As It Seeks To Expand Beyond Disaster Recovery". techcrunch.com. 17 November 2015.
- ^ "Datto buys Paradeon Technologies". Insider Media.
- ^ "Datto nets $75M investment from California firm". Democrat and Chronicle. November 17, 2015.
- ^ "Datto upgrades flagship platform, unveils all-flash backup appliance". ChannelBuzz.ca. 2016-06-21.
- ^ "Datto reveals European growth and builds pub". ITEuropa. 2016-07-04.
- ^ "Datto launches backup and disaster recovery technology to combat ransomware". The Register. October 27, 2016.
- ^ Sharp, Brian (January 23, 2017). "Datto to add 200 jobs downtown". Democrat & Chronicle.
- ^ "Datto buys into a right Mesh. The good kind". The Register. January 31, 2017.
- ^ "Datto opent kantoor in Nederland | Dutch IT-channel". dutchitchannel.nl (in Dutch).
- ^ Singer, Stephen (October 26, 2017). "Data Storage Startup Datto Acquired In Deal, Merges With IT Firm". Hartford Courant.
- ^ "Austin McChord to step down from Datto CEO role".
- ^ "Datto confirms Weller as CEO". MicroscopeUK. Retrieved 2020-11-24.
- ^ "Aussie MSP reseller platform Glüh acquired by Datto". CRN Australia.
- ^ Wilhelm, Alex (October 22, 2020). "Datto trades modestly higher after pricing IPO at top of range". TechCrunch.
- ^ "Datto Acquires Cybersecurity Company Infocyte" (Press release). Business Wire. January 20, 2022.
- ^ Novinson, Michael (January 20, 2022). "Datto Buys Threat Detection And Response Vendor Infocyte". CRN.
- ^ FAIRFIELD, C.J. (June 23, 2022). "It's Official: Kaseya Completes Datto Acquisition". CRN.
- 2017 mergers and acquisitions
- 2020 initial public offerings
- 2022 mergers and acquisitions
- American companies established in 2007
- Companies based in Norwalk, Connecticut
- Companies formerly listed on the New York Stock Exchange
- Computer security companies
- Data companies
- Software companies based in Connecticut
- Software companies established in 2007