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How did N-able Rise to Become an MSP Powerhouse?
N-able, a global software company, has become a dominant force in the managed services provider (MSP) industry, but how did it all begin? Founded in 2000 by Mark Scott, N-able initially focused on providing tools for remotely managing IT networks for smaller businesses. This early vision laid the foundation for its current success, making it a key player in the N-able SWOT Analysis landscape.
From its origins as a startup, N-able's journey reflects a strategic evolution, marked by significant milestones and shifts in the competitive landscape. The company's focus on enabling third-party managed service providers to deliver IT services has positioned it as a leading provider of cloud-based software solutions for MSPs. Understanding the N-able history, including its relationship with SolarWinds MSP and its impact on MSP software, is crucial to grasping its current market position and future potential.
What is the N-able Founding Story?
The story of the N-able company begins in Ottawa, Ontario, Canada, in the year 2000. It was founded by Mark Scott, with the support of Steven Revell and Gavin Garbutt. Their goal was to create software that would help third parties, specifically managed service providers (MSPs), remotely manage and secure the IT networks of small and medium-sized businesses.
This vision addressed the growing need for efficient and scalable IT support for smaller enterprises. The initial business model focused on selling software tools to value-added resellers (VARs) and MSPs. This enabled them to offer outsourced IT services to their clients, streamlining IT operations for various businesses.
In the early days, convincing third parties to adopt their software was a key challenge. An interesting detail from this period is that Mark Scott left N-able in 2006 to start another company. Gavin Garbutt, an investor, then stepped in as CEO. This leadership change was a notable moment in the company's early development. N-able's core offering, remote monitoring and management (RMM) software, was designed to simplify complex IT tasks and improve productivity for IT service providers.
Key Milestones in N-able History
N-able's journey is marked by significant milestones, including its founding and early leadership transitions, shaping its path in the MSP software market.
- 2000: N-able is founded in Ottawa, Canada, by Mark Scott, Steven Revell, and Gavin Garbutt.
- 2006: Mark Scott departs, and Gavin Garbutt becomes CEO, marking a key leadership transition.
- Early Focus: The company concentrates on providing MSP software to VARs and MSPs.
- Core Offering: Development of remote monitoring and management (RMM) software to simplify IT tasks.
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What Drove the Early Growth of N-able?
The early years of the N-able company were marked by significant growth and expansion. Starting from its inception, N-able quickly established itself in the managed services provider (MSP) market. This period saw the company evolve from a startup to a key player in the IT management space, significantly impacting the industry.
Acquisition by SolarWinds
A pivotal moment in N-able's trajectory was its acquisition by SolarWinds in 2013. This acquisition, valued at US$120 million, was driven by SolarWinds' interest in adding MSP service automation to its existing IT management software. Following the acquisition, N-able was rebranded as 'N-able by SolarWinds.'
Merger with LOGICnow
Further expansion came in 2016 when SolarWinds acquired LOGICnow and merged it with N-able, creating 'SolarWinds MSP.' This merger significantly expanded the company's partner ecosystem. By 2021, the company supported approximately 25,000 partners globally. The company's product portfolio also evolved to include two RMM software platforms, various security and data protection services, and business management software.
Financial Performance Under SolarWinds
Under SolarWinds' ownership, N-able's product revenue reached $302.5 million for the year ended December 31, 2020, a 15% increase from the previous year. This growth highlighted the success of the company's strategic initiatives and its strong position in the MSP market. For a deeper understanding of the competitive environment, consider exploring the Competitors Landscape of N-able.
Growth in Partnerships
By 2015, N-able was supporting around 3,600 partners globally. This number grew significantly over the years, reflecting the company's expanding reach and the increasing demand for its MSP software and services. The company's ability to attract and retain partners was a key factor in its growth.
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What are the key Milestones in N-able history?
The N-able company's journey showcases significant milestones, innovation, and strategic responses to industry challenges. From its origins to its current status, the company has navigated a dynamic landscape, adapting and evolving to meet the needs of Managed Service Providers (MSPs).
| Year | Milestone |
|---|---|
| 2021 | SolarWinds MSP went public as N-able (NYSE: NABL) and spun out from SolarWinds. |
| 2024 | N-able completed the strategic acquisition of Adlumin in November, enhancing its cybersecurity capabilities. |
| 2025 | N-able launched its first annual 2025 State of the SOC Report, exploring trends in security operations. |
N-able has consistently focused on innovation, particularly in cloud-based software solutions for MSPs. The company's commitment to a unified cyber resiliency platform further demonstrates its dedication to addressing evolving cyber threats.
Cloud-Based Solutions
N-able developed cloud-based software solutions, enabling MSPs to remotely monitor, manage, and secure their clients' IT infrastructure. This innovation has been a cornerstone of their service offerings, providing MSPs with essential tools for efficient IT management.
Unified Cyber Resiliency Platform
The company's focus on a unified cyber resiliency platform, encompassing management, security, and recovery, showcases its commitment to addressing evolving cyber threats. This platform provides a comprehensive approach to cybersecurity, helping MSPs protect their clients from various threats.
XDR and MDR Capabilities
The strategic acquisition of Adlumin in November 2024 significantly enhanced N-able's cloud-native Extended Detection and Response (XDR) and Managed Detection and Response (MDR) capabilities. This acquisition strengthens the company's cybersecurity portfolio, offering deeper insights and remediation across IT environments.
AI-Powered Solutions
N-able is advancing its AI-powered solutions, such as immutable backups and enhanced restore processes, to differentiate itself in the cybersecurity market. These AI-driven features improve efficiency and reliability, providing MSPs with cutting-edge tools.
Despite its achievements, N-able has faced financial and market challenges. The company's financial performance and the competitive landscape require ongoing strategic adjustments.
Financial Pressures
N-able reported a GAAP net loss of $7.2 million in Q1 2025, which was below analyst estimates. The company's revenue growth rate has also been declining in recent quarters, highlighting the need for cost management and sustained profitability.
Net Retention Rate Decline
The net retention rate (NRR) for N-able was 101% in Q1 2025, down from 103% in 2024. This decline indicates increased competition and the importance of retaining existing customers.
Strategic Adjustments
N-able's management expects to return adjusted EBITDA margin to over 30% by 2026. This highlights the company's focus on improving financial performance and achieving long-term sustainability in the MSP market.
Market Competition
The MSP market is highly competitive, requiring N-able to continuously innovate and adapt to maintain its market position. The company faces competition from various players, including those offering similar MSP software and services.
To learn more about the company's financial model, you can read Revenue Streams & Business Model of N-able.
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What is the Timeline of Key Events for N-able?
The N-able history is marked by significant shifts and strategic moves. Founded in 2000 by Mark Scott, the company has evolved from its early days to become a key player in the MSP software space. Through acquisitions, rebranding, and a public listing, N-able has adapted to the changing needs of its partners and the broader IT landscape. The company's journey reflects its commitment to empowering MSPs and supporting small and medium enterprises.
| Year | Key Event |
|---|---|
| 2000 | N-able is founded by Mark Scott in Ottawa, Ontario, Canada. |
| 2006 | Mark Scott leaves N-able; Gavin Garbutt takes over as CEO. |
| 2013 | SolarWinds acquires N-able for US$120 million and rebrands it as 'N-able by SolarWinds.' |
| 2015 | N-able undergoes a rebrand to 'SolarWinds N-able' and has 3,600 partners globally. |
| 2016 | SolarWinds acquires LOGICnow and merges it with N-able to create 'SolarWindsMSP'; John Pagliuca takes charge. |
| 2020 | N-able reverts to its original branding. |
| 2021 | SolarWinds MSP (N-able) spins out from SolarWinds and goes public on the NYSE (NYSE: NABL) in July; John Pagliuca becomes CEO. N-able has 25,000 partners. |
| July 2022 | N-able acquires SpinPanel. |
| November 2024 | N-able acquires Adlumin, enhancing its cybersecurity capabilities. |
| Q4 2024 | N-able reports total revenue of $116.5 million, a 7.5% year-over-year growth, and full-year 2024 revenue of $466.1 million, a 10.5% year-over-year growth. |
| Q1 2025 | N-able reports total revenue of $118.2 million, a 3.9% year-over-year growth, and total Annual Recurring Revenue (ARR) of $492.7 million, representing 10.3% year-over-year growth. |
Future Growth
N-able is focused on driving future growth through continued investment in security leadership and deepening channel partnerships. The company is also dedicated to delivering critical protection to its customers. The company anticipates returning adjusted EBITDA margin to over 30% in 2026.
Financial Outlook for 2025
N-able expects total ARR in the range of $519 million to $525 million for the full-year 2025, representing 8% to 9% year-over-year growth. Total revenue for the full-year 2025 is projected to be in the range of $492 million to $497 million, an approximate 6% to 7% year-over-year growth. Adjusted EBITDA for 2025 is expected to be between $134 million and $139 million.
Strategic Initiatives
The integration of Adlumin is expected to strengthen its cybersecurity offerings and expand market reach. This acquisition is a key part of N-able's strategy. The company's strategic initiatives continue to tie back to its founding vision of empowering MSPs.
Leadership's Perspective
John Pagliuca, N-able's President and CEO, expressed confidence in the company's position. He stated, 'We closed 2024 in a position of strength and we believe we are poised for even greater success in 2025.' N-able's focus remains on supporting MSPs and their clients.
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