News & Insights
Cascadia Capital Advises Addigy in Receiving a Strategic Growth Investment from PSG
August 16, 2022
Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Addigy, a leading SaaS-based Apple device management provider serving corporate IT teams and managed service providers (MSPs), in receiving a strategic growth investment from PSG, a leading growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth.
In the past two years, Mac laptop use in the workplace has surged, with over half of IT teams indicating a growing demand for Apple devices in their companies. With this growing popularity of Apple devices, we believe corporate IT teams and MSPs face unprecedented challenges in securing and scaling Apple devices. Addigy offers solutions geared to streamline Apple device management and elevate the Apple IT ecosystem by offering its customers the only multi-tenant, cloud-based MDM platform on the market. Addigy’s differentiated multi-tenant implementation can enable customers to ensure one of the highest levels of Apple security and efficiency in scaling of operations across multiple organizations, all within one interface.
Further, Covid-19 led to a proliferation of at-home workplace devices and perimeter-based security vulnerabilities. As a result, enterprises had to examine endpoint security and, most importantly, identity-based management. In our view, Addigy provides one of the most advanced IT management platforms to deliver on this by providing one of the highest levels of security, scalability, and end-user productivity. The company’s MDM and integrated remote monitoring and management (RMM) platform is used by over 1,500 customers that support over 4,000 organizations worldwide.
“Addigy has developed one of the most advanced Apple device management platforms by combining RMM and MDM technologies. Our PSG investment is key to our ambitions to expand globally and pioneer key ecosystem integrations to allow Apple devices to be fully integrated within IT organization workflows,” commented Jason Dettbarn, CEO of Addigy. “I am very excited to partner with PSG, a leading SaaS growth investor, and continue Addigy’s trajectory of innovation with an aim towards meeting the rapidly evolving needs of IT teams and towards providing our customers the highest level of support.”
“This is a space we have been watching for some time, and in our view, the product Jason and his team developed and brought to the MDM market fills a key need for IT teams and MSPs, specifically with its understanding and expertise of the macOS software,” commented Rick Essex, Managing Director at PSG. “We believe Addigy’s platform provides an agile solution with the ability to scale and support Apple device integration for businesses as they grow. We are excited to work with the team to bring this solution to a broader range of corporations and MSPs.”
“Jason Dettbarn observed the popularity of Apple at work and anticipated need for related IT management software. He and his team engineered a multi-tenant solution combining MDM and RMM capabilities and established a stronghold in the MSP market,” added Matt Riendeau, Managing Director at Cascadia Capital. “A growing number of internal IT departments have also realized the benefits of Addigy’s unique GoLive!, LiveDesktop, LiveTerminal, and Automated Remediation features. PSG’s strategic growth investment will allow Addigy to simultaneously expand their core MSP and emerging corporate IT businesses.”
This transaction represents another successful transaction for Cascadia in the in the MDM sector and second time advising an Apple MDM clients. Past transactions include the acquisition of SimpleMDM by PDQ and the sale of NitroDesk to Symantec.
For more information about this transaction, please contact the Cascadia Capital deal team:
Matt Riendeau
Managing Director
mriendeau@cascadiacapital.com
(206) 436-2568