Barracuda Networks, Inc., a partner and provider of cloud-enabled security solutions, has announced significant growth across EMEA and APAC for its MSP business for FY2020 to date.
Alongside this strong performance, Barracuda MSP also continued its global expansion, launching operations in Australia and New Zealand, and continued its product innovation with the release of Managed Workplace 12, the latest version of its security-centric remote monitoring and management (RMM) solution.
“Over the past four years we’ve built our international Barracuda MSP team to match our success and partner growth in these new regions, growing our MSP annualised recurring revenue base over 250% year on year,” said Brian Babineau, SVP & GM, Barracuda MSP. “As we continue to expand across the globe, we’re committed to investing in the infrastructure to support and empower these new partners.”
According to an October 2018 report by Markets & Markets, the Managed Services Market is expected to grow from USD 180.5 billion in 2018 to USD 282.0 billion by 2023, fueled by growth of almost 10% per year. Barracuda’s MSP portfolio approach has been very successful in the global marketplace and is a key growth area. The division grew its global MSP partner base to over 4,300 and most importantly, the number of global MSPs using multiple Barracuda solutions increased 35 percent year-over-year entering September 2019. Demand for email protection solutions outside North America, in particular, has been considerable with annualised recurring revenue increasing by 318 percent year over year as of October 2019.
With a dedicated team now serving Australia and New Zealand, Barracuda MSP now has cloud-based product operations and go to market operations running in UK, Germany and Australia. The expansion into Germany has been boosted by the recent signing of Infinigate, a strategic solutions provider for BarracudaMSP, to provide support to MSPs in Germany, Austria and Switzerland. Building on Barracuda’s recent acquisition of Managed Workplace, this new team and partnership strengthens Barracuda’s entry into the DACH region.
“Given the current climate, with economic uncertainty looming large in the form of political shifts across the region, it’s easy to see how MSPs might be playing it safe when it comes to growth,” added Jason Howells, Director, International MSP, Barracuda Networks. “It’s therefore a huge testament to our partnership model and the specialist team we’ve put in place that we’re seeing such impressive growth. We’re proud to be supporting MSPs across the region, and enabling them to create, deliver and demonstrate services to their clients.”