Rewst Funding, Investors & Competitors

Rewst has raised $124M across 6 funding rounds, most recently a $45M Series C in August 2024.

See full Rewst profile

Last Rewst funding round

$45M

Series C · Aug 2024

Cumulative funding Rewst raised

$124M

across 6 funding rounds

Key investors in Rewst

  • OpenView
  • Florida Funders
  • Meritech Capital Partners
  • TDF Ventures
  • MDJ Group
  • Sapphire Ventures
  • Grotech Ventures
  • StoneMill Ventures

Rewst Overview

About Rewst

Rewst is an Austin-headquartered RPA platform tailored for managed service providers in the IT channel. It automates ticketing, client onboarding, patching, and cybersecurity workflows across tools like ConnectWise, Autotask, and Microsoft 365. The no-code interface enables MSPs to deploy bots in hours for multi-tenant environments.


Founded

2020

HQ

United StatesTampa, FL

Website

rewst.io

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Rewst Funding History

Rewst has raised a total of $124M across 6 funding rounds.

Rewst's first fundraising round was a $3M seed round in November 2021. The most recent completed round was a $45M Series C in August 2024.

Rewst funding rounds

Rewst funding rounds
DateStageInvestorsRaisedDeal Summary
Aug 2024Series CSapphire Ventures (lead); OpenView; Meritech Capital Partners$45MRewst is a Tampa, Florida-based provider of a low-code automation platform purpose-built for managed service providers (MSPs), enabling them to build and automate workflows, unify tools, data, and forms, and create branded web apps like self-service portals and analytics systems. The company announced a $45 million funding round on August 8, 2024, led by Sapphire Ventures, with participation from existing investors Meritech Capital and OpenView, bringing total capital raised to $104 million since its 2020 launch and $76 million in the prior 12 months. Funds will accelerate platform innovation, including its robotic process automation (RPA) and new App Platform, while investing in community, education, and support to enhance MSP business value amid challenges like talent retention and competition. Over 900 MSPs use Rewst, having built more than 274,000 automations and run workflows over 101 million times in a recent 30-day period, self-reporting savings of more than 675,000 hours. In the first half of 2024, Rewst achieved 182 percent year-over-year growth in annual recurring revenue and 204 percent customer growth, doubling headcount in engineering, customer success, education, and robotic operations center teams to meet demand. The company operates primarily in North America with expansions into EU and APAC, positioning itself as the leading MSP automation player in an early adopter phase of a large market. Sapphire Ventures partner Casber Wang joined the board, highlighting Rewst's role in boosting MSP productivity. This Series C round follows a prior $31 million raise, underscoring rapid scaling. Rewst emphasizes speed to market, continuous platform improvements, and competitive differentiation through automation.
Dec 2023Series BMeritech Capital Partners (lead); OpenView; TDF Ventures; Florida Funders$31MRewst is a Tampa, FL-based startup founded in 2020 that provides a purpose-built robotic process automation (RPA) platform for managed service providers (MSPs), enabling them to automate end-to-end processes using pre-built automations called Crates, custom workflows, and tools like the Robotic Operations Center (ROC), RoboRewsty AI assistant, and App Platform. The $31 million Series B round, announced January 9, 2024 (dated December 22, 2023 on company site), was led by Meritech Capital Partners with participation from existing investors OpenView, TDF Ventures, and Florida Funders, bringing total funding to $59 million. Funds are allocated to expand product development with new integrations, double the ROC team to 30 people for faster MSP support, enhance customer success, and educate MSPs on automation to accelerate growth and value delivery. The investment builds on Rewst's 2023 milestones, including releasing 50 pre-built Crates, more than doubling the marketplace for immediate MSP value. CEO Aharon Chernin noted the round was opportunistic, driven by investor interest in Meritech's expertise with companies like UiPath, Cisco Duo, and Coupa. A subsequent $45 million raise in August 2024 led by Sapphire Ventures, with Meritech and OpenView, brought total funding to $104 million (including primary and secondary sales). This followed rapid H1 2024 growth with 182% year-over-year ARR increase and 204% customer growth to over 900 MSPs across North America, EU, and APAC, alongside headcount doubling in engineering, customer success, education, and ROC teams.
Dec 2023Undisclosed stage-$20MRewst is a Tampa, FL-based provider of a purpose-built robotic process automation (RPA) platform for managed service providers (MSPs), offering tools like Robotic Operations Center (ROC), RoboRewsty (AI-powered automation assistant), and App Platform for building branded web apps, integrations, and workflows to enhance efficiency, service delivery, and customer satisfaction. Founded in 2020 or 2021, the company targets MSPs in North America, EU, and APAC, addressing challenges in multi-tenant RPA adoption with over 30 integrations and prebuilt automations called Crates. In January 2024, Rewst announced a $31 million Series B funding round led by Meritech Capital, with participation from OpenView, TDF Ventures, and Florida Funders, bringing total funding to $59 million at that time. This followed a $21.5 million Series A in November 2022 led by OpenView. The Series B funds were allocated to accelerate growth, expand product development including new integrations and workflow tools, enhance customer success, education, and the ROC team. Around the time, Rewst reported over 700 MSP customers executing more than 46 million workflows in a recent 30-day period, with self-reported time savings exceeding 251,000 hours. A subsequent $45 million raise in August 2024 led by Sapphire Ventures, with Meritech Capital and OpenView, brought total funding to $104 million (including $76 million in the prior 12 months), used for platform innovation, community building, and education. By then, over 900 MSPs had built more than 274,000 automations, running workflows over 101 million times in a 30-day period with savings exceeding 675,000 hours, indicating strong traction in the $262 billion managed services market (2023 estimate).
Nov 2022Series AOpenView (lead); StoneMill Ventures$22MRewst is a robotic process automation (RPA) platform designed specifically for managed service providers (MSPs), enabling automation of workflows across over 30 MSP-oriented tools through its multi-tenant platform and Robotic Operations Center (ROC). The company announced a $21.5 million Series A funding round on November 10, 2022, led by OpenView, with participation from StoneMill Ventures, to fuel rapid growth, product development, and expansion of its automation capabilities for MSPs. This round addressed gaps in traditional RPA tools that lacked multi-tenant support and MSP-specific integrations, positioning Rewst to help MSPs automate service desk tasks, sales processes, and other repetitive workflows. OpenView Partner Tom Holahan highlighted Rewst's potential as a purpose-built solution for MSPs' critical challenges, emphasizing the firm's excitement to partner with founder Aharon Chernin in building a category-defining company. The investment aligns with OpenView's focus on vertical software and workflow automation, particularly in the managed services sector where much work is workflow-oriented. Rewst's platform offers prebuilt automations called Crates, a visual interface for custom builds, and later enhancements like AI-assisted RoboRewsty and custom integrations. Subsequent developments include a $45 million raise in August 2024 led by Sapphire Ventures, bringing total funding to $104 million, with traction metrics like 900 MSP customers, 274,000 automations built, and 101 million workflow runs in a recent 30-day period. By mid-2024, Rewst reported 184% year-over-year ARR growth and 204% customer increase, underscoring its momentum in the growing MSP automation market.
Aug 2022SeedTDF Ventures (lead); Adam Slutskin; MDJ Group; David Bellini; Grotech Ventures; Florida Funders$4MRewst is a Tampa-based startup developing Robotic Process Automation (RPA) software for managed service providers (MSPs). The company raised $4 million in a seed funding round led by TDF Ventures, with participation from investors including Adam Slutskin, David Bellini, Florida Funders, Grotech Ventures, and MDJ Group. This brought Rewst's total funding to $7.5 million since its 2020 launch. The funding supports expansion of Rewst's Robotic Operations Center (ROC), which monitors automation work and builds workflows to streamline MSP processes by connecting products and automating routine manual tasks. Rewst enables MSPs to integrate and automate tasks without deep RPA knowledge, with plans to add integrations into other MSP software tools. Co-founder Gary Pica, CEO of TruMethods, is among the company's backers.
Nov 2021SeedFlorida Funders (lead); MDJ Group; Florida Institute for the Commercialization of Florida Technology$3MRewst is a Tampa-based robotic process automation (RPA) platform founded in 2020 by Aharon Chernin, designed specifically for Managed Service Providers (MSPs). The company focuses on making automation more accessible to SMBs through an intuitive interface and low-code tools that eliminate the need for specialized automation expertise. In November 2021, Rewst closed a $2.5 million seed round led by Florida Funders, with participation from the Florida Institute for the Commercialization of Florida Technology and MDJ Group. The funding brought Rewst's total seed capital to $3.5 million and was earmarked for team expansion, marketing, and product development ahead of the platform's January 2022 launch. By August 2024, Rewst had achieved significant traction, reporting 182% year-over-year ARR growth and 204% customer growth in the first half of 2024, leading to a $45 million Series C raise led by Sapphire Ventures with a post-money valuation of approximately $309 million.

Who has invested in Rewst?

11 investors have backed Rewst across its funding rounds, including OpenView, Florida Funders, Meritech Capital Partners, TDF Ventures, MDJ Group and Sapphire Ventures.

Lead investors include Sapphire Ventures, Meritech Capital Partners, OpenView, TDF Ventures and Florida Funders.


Rewst Investors

Investors in Rewst by funding rounds participated
InvestorHQRoundsRoleFirst check
OpenViewUnited StatesBoston, MA3LeadNov 2022
Florida FundersUnited StatesTampa, FL3LeadNov 2021
MDJ GroupUnited StatesTampa, FL2ParticipantNov 2021
TDF VenturesUnited StatesWashington, DC2LeadAug 2022
Meritech Capital PartnersUnited StatesSan Francisco, CA2LeadDec 2023
StoneMill VenturesUnited StatesWashington, DC1ParticipantNov 2022
Adam SlutskinUnited StatesTampa, FL1ParticipantAug 2022
Florida Institute for the Commercialization of Florida TechnologyUnited StatesBoca Raton, FL1ParticipantNov 2021
David BelliniUnited StatesUnited States1ParticipantAug 2022

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Rewst Competitors

Rewst competitors include listed companies like Alphabet, Microsoft, Salesforce and Adobe, and private ones like Grammarly and Notion.

Public and private companies comparable to Rewst
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
AlphabetUnited StatesUnited StatesPublicly listed$403B$176B$4.2T8.7x
MicrosoftUnited StatesUnited StatesPublicly listed$332B$205B$3.7T10.7x
SalesforceUnited StatesUnited StatesPublicly listed$42B$13B$200B5.2x
AdobeUnited StatesUnited StatesPublicly listed$24B$9.3B$100B3.9x
GrammarlyUnited StatesSan Francisco, CAPrivate$700M-$13B18.6x
NotionUnited StatesSan Francisco, CAPrivate$600M-$11B18.3x

Rewst Public Comps

Rewst is still privately-owned, but its public comps include Alphabet, Microsoft, Salesforce, Adobe, Strategy, Atlassian, Baidu, Kingsoft Office Software, Dropbox and UiPath.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Alphabet$403B$176B10.2x8.7x23.3x19.0x
Microsoft$332B$205B11.1x10.7x18.0x17.5x
Salesforce$42B$13B5.5x5.2x17.8x12.2x
Adobe$24B$9.3B4.3x3.9x10.9x8.2x
Strategy$477M($5.4B)149.4x144.4x(13.1x)(12.3x)
Atlassian$6.6B$142M7.4x7.2x342.1x23.7x
Baidu$19B$3.3B1.3x1.4x7.8x8.0x
Kingsoft Office Software$884M$307M17.1x15.0x49.3x48.1x

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Common questions about Rewst

When was Rewst founded?Rewst was founded in 2020.
Where is Rewst headquartered?Rewst is headquartered in Tampa, FL, United States.
Is Rewst publicly listed?No, Rewst is a private, VC-backed company.
How much funding has Rewst raised?Rewst has raised $124M across 6 funding rounds.
What was Rewst's last funding round?Rewst's last funding round was a $45M Series C in August 2024, led by Sapphire Ventures.
Who are Rewst's investors?Rewst's investors include OpenView, Florida Funders, MDJ Group, TDF Ventures, Meritech Capital Partners, StoneMill Ventures, Adam Slutskin, Florida Institute for the Commercialization of Florida Technology, David Bellini, Grotech Ventures and 1 other.
Which companies are comparable to Rewst?Companies comparable to Rewst include Alphabet, Microsoft, Salesforce, Adobe, Grammarly and Notion.

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