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Kaseya

From Wikipedia - Reading time: 6 min

Kaseya Limited
Company typePrivate
IndustryInformation technology
Founded2001; 24 years ago (2001)
FounderMark Sutherland
Paul Wong
HeadquartersMiami, Florida
ProductsNetwork monitoring
System monitoring
RevenueIncrease US$1.3 billion (2022)
OwnerInsight Partners (majority owner)
Websitewww.kaseya.com

Kaseya Limited (/kəˈseɪ.ə/ kə-SAY-ə) is a company headquartered in Miami that develops software for network monitoring, system monitoring, and other information technology applications. It is majority-owned by Insight Partners and owns the naming rights to the Kaseya Center. The company was estimated to be valued at $12 billion in April 2023.[1]

History

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Kaseya was founded in 2000 in California by Mark Sutherland and Paul Wong, who previously worked together on a project for the National Security Agency.[2]

In 2003, Gerald Blackie joined the company as its CEO.[3]

In June 2013, Insight Partners acquired control of the company and Yogesh Gupta became CEO.[4]

In July 2015, Fred Voccola was named CEO of the company.[5]

In 2018, the company moved its headquarters from Boston to Brickell, Miami.[6]

In April 2023, the company acquired the naming rights to the Kaseya Center in a 17-year, $117.4 million agreement.[7]

In 2024, the company laid off 150 employees, about 8% of its Miami workforce. The company stated that it was part of its normal performance-based reviews and that the jobs would not disappear.[8]

Security Issues

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In 2015, Kaseya fixed a directory traversal vulnerability in their remote access tool.[9] The same bug was present in the company's support website for a further six years.[10]

In 2018, the company's remote tool was infiltrated and hackers were able to commandeer affected computers to mine cryptocurrency.[2]

In July 2021, the Kaseya VSA ransomware attack, perpetrated by REvil, led to downtime for 60 customers and over 1,500 downstream businesses.[2][11][12]

Business practices

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Kaseya faced backlash in 2022, when customers found that terms and conditions were being updated to introduce automatically renewing three-year terms, getting only a 30 days notice of the change. [13] [14]

Acquisitions

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# Year Company Notes Ref(s).
1 May 2011 Intellipool AB Network performance monitoring [15]
2 July 2013 Zyrion Cloud backup & disaster recovery [16]
3 July 2013 Rover Apps Work-related security for personal devices [17]
4 October 2013 365 Command Microsoft 365 administration [18]
5 June 2018 Unitrends Data protection technology [19]
6 October 2018 Spanning Cloud Apps Cloud backup & disaster recovery [20]
7 May 2019 ID Agent Threat intelligence and identity monitoring [21]
8 August 2020 Graphus Phishing defense [22]
9 February 2021 RocketCyber Security operations center [23]
10 June 2022 Datto Backup and disaster recovery; $6.2 billion price [24]
11 October 2022 ConnectBooster Account receivables automation [25]
12 April 2023 Vonahi Security Automated network penetration testing [26]
13 October 2024 SaaS Alerts Cloud security platform [27]

References

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  1. ^ "After FTX meltdown, county has $117 million solution in Kaseya Center as Heat's home". Miami Herald. April 4, 2023.
  2. ^ a b c O’BRIEN, MATT (July 13, 2021). "Firm hacked to spread ransomware had previous security flaws". Associated Press.
  3. ^ BURKE, STEVEN (May 21, 2013). "50 Cool Tools For Solution Providers". CRN.
  4. ^ Tontsi, Phumeza (June 27, 2013). "Insight Venture Partners makes investment in Kaseya". ITWeb.
  5. ^ "Kaseya Names New CEO, Fred Voccola to Drive Company's Rapid Growth Phase" (Press release). Marketwired. July 7, 2015.
  6. ^ Correa, Monica (February 28, 2023). "Brickell-based Kaseya gets incentive to add 3,400 IT jobs". Miami Today.
  7. ^ "Heat arena, formerly FTX, renamed Kaseya Center on 17-year deal". ESPN. April 4, 2023.
  8. ^ https://www.miamiherald.com/news/business/article287422165.html
  9. ^ "CERT/CC Vulnerability Note VU#919604". www.kb.cert.org. Retrieved 2024-10-12.
  10. ^ "Kaseya Left Customer Portal Vulnerable to 2015 Flaw in its Own Software – Krebs on Security". 2021-07-08. Retrieved 2024-10-12.
  11. ^ Wile, Rob; Wilner, Michael (July 6, 2021). "One of Miami's oldest tech firms is at the center of a global ransomware computer hack". Miami Herald. Archived from the original on October 6, 2021.
  12. ^ Osborne, Charlie (July 23, 2021). "Updated Kaseya ransomware attack FAQ: What we know now". ZDNet.
  13. ^ "Kaseya admits customer complaints expose a serious communication problem". 28 June 2023. Retrieved 2024-12-14.
  14. ^ "Kaseya, Responding to Partner Complaints, Changes Auto-Renewal Terms". 8 August 2022. Retrieved 2024-12-14.
  15. ^ "Kaseya to Acquire Intellipool AB" (Press release). Business Wire. May 2, 2011.
  16. ^ Talbot, Chris (2013-07-10). "Kaseya Acquires Zyrion for Monitoring, Management Features". Channel Futures. Retrieved 2024-10-30.
  17. ^ "Kaseya Acquires Rover Apps" (Press release). GlobeNewswire. July 16, 2013.
  18. ^ "Insight Venture-Backed Kaseya Buys 365 Command". The Wall Street Journal. October 24, 2013.
  19. ^ KOVAR, JOSEPH F. (May 3, 2018). "Kaseya Acquires Unitrends, Integrates Data Protection To IT Management Platform". CRN.
  20. ^ Panettieri, Joe (2018-10-01). "Kaseya Acquires Spanning: Microsoft Office 365 Cloud Backup". ChannelE2E. Retrieved 2024-10-30.
  21. ^ Francis, Allison (2019-05-08). "Kaseya's ID Agent Buy Strengthens IT Complete Security Suite". Channel Futures. Retrieved 2024-10-30.
  22. ^ NOVINSON, MICHAEL (August 24, 2020). "Kaseya Buys Graphus To Make Phishing Defense Easy For MSPs". CRN.
  23. ^ "Kaseya Supercharges IT Complete Security Suite with the Acquisition of RocketCyber" (Press release). GlobeNewswire. February 23, 2021.
  24. ^ FAIRFIELD, C.J. (June 23, 2022). "It's Official: Kaseya Completes Datto Acquisition". CRN.
  25. ^ "Kaseya Makes Billing Painless for its MSP Customers Through ConnectBooster Integration" (Press release). PRWeb. October 5, 2022.
  26. ^ "Kaseya Acquires Vonahi Security to Revolutionize Cybersecurity with Automated Network Penetration Testing" (Press release). WXIN. April 25, 2023.
  27. ^ Davis, Jessica C. (2024-10-30). "MSSP Market Update: Kaseya Acquires SaaS Alerts, Disrupts Pricing Again". MSSP Alert. Retrieved 2024-10-30.
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Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/Kaseya
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