Nov 17, 2015
A Q&A with CEO Austin McChord: Datto’s New Funding
Datto’s recent Series B funding announcement is an important milestone in the company’s history. CEO and founder Austin McChord recently sat down to share more information on what this means for Datto and its partners.
What Does the new funding mean for Datto?
Datto as a company is profitable, we’re growing very fast, and we look at this money as gas in the tank for the future. It’s not money we need now to run or fund operations, but it’s money to have available so that we can enter new markets, build better products, and build stronger partnerships with our MSPs.
Regarding growth, how do you see the investment impacting the company on a global scale?
This investment gives Datto the confidence to enter more regions faster. It will allow us to enter more markets next year than we would have been able to without it, which will let us bring our Total Data Protection family of products and services to MSPs and their customers around the world.
Product innovation is really important to Datto, can you share a bit about how the funding will be used to further Datto’s products?
Product innovation is why I come to work. I don’t think that the investment will change our strategy, but its gives us greater resources to build a better product which helps our customers and partners. It gives us the ability to make bigger bets on the business and take our products further, faster.
We’ve also added a few new board members. What will these members bring to Datto?
We’re excited to have great advisors. As the company grows, we have new challenges and it’s fantastic that we can put even more smart, strategic people on our board to help advise Datto on how best to grow the business. It increases the pool of IQ points and people who have ‘been there, done that.’
Any lessons learned from this round compared to the last time that Datto raised a round?
There’s enormous value to having amazing advisors and building out a great team. You see that in Datto’s selectiveness in who we partner with. We’ve had a tremendous experience partnering with General Catalyst, and we’re equally excited about our partnership with TCV. We think they’re incredibly smart and we’ll really benefit from getting their feedback and having them on Datto’s board. Their speciality is companies our size, past the early startup stage and entering the next phase of rapid growth.
Looking back to when you started the company, did you ever imagine that you would have such substantial funding and that you would be adding these incredibly talented board members?
I take the growth of the company day by day. I have a long-term plan, but we’ve exceeded what I ever imagined. The credit goes to the great team that has been built here, and our relationship with our MSP partners that have allowed us to make it this far. Our MSP partners get us excited about the road ahead and the things we can do together.
Is there anything else you would like to share about how the investment will help Datto and Datto’s partners?
For our partners, it really validates the value of the MSP market. To achieve this scale in the MSP space is something that’s worth talking about. MSPs are a huge part of the IT ecosystem around the world. I’m excited we’ve been able to build a remarkable business by building great relationships with them.
For more details on Datto’s funding news, check out the news release.