Former Datto boss Austin McChord joins General Catalyst – Finance


Austin McChord, the storage whiz who founded Datto and led the company through its acquisition by an investment firm and its subsequent acquisition of Autotask, is joining venture capital firm General Catalyst to use his experience as an entrepreneur to work with startups.

McChord, aged 33, founded storage and MSP services platform company Datto in 2007 in his parents’ basement and went on to sell the company 10 years later for an estimated $1.5 billion.

This week McChord officially joins US-based General Catalyst as a venture partner, the venture capital firm said in a blog post.

General Catalyst in 2013 led a US$25-million round of funding in Datto. General Catalyst members Steve Herrod and Paul Sagan joined Datto’s board of directors after the investment.

General Catalyst said in its blog post that McChord would join the company’s Boston office.

“[He] will focus on identifying and investing in companies in the infrastructure and SaaS, software-enabled hardware, and industrial IoT spaces. True to the General Catalyst credo, Austin is an entrepreneur looking to help other entrepreneurs reach the next stage of their growth,” the venture capital firm wrote.

Datto, founded originally as a provider of storage services for the MSP community, was in 2017 acquired by Vista Equity Partners for an undisclosed sum estimated in some reports to be about US$1.5 billion.

At the same time, Datto acquired Autotask, a leading provider of professional services automation technology, from Vista Equity Partners, making it the leading provider of technology and services to MSPs.

Tim Weller, who had been serving as president and chief operating officer of Datto, earlier this month, took the reigns as CEO.

This article originally appeared at crn.com



Source link Finance News Australia

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