Who owns ConnectWise?

ConnectWise has been majority owned by private equity firm Thoma Bravo since a deal announced February 25, 2019 and closed February 28, 2019, valued at roughly $1.5 billion. Thoma Bravo holds six of eight board seats, and periodic sale speculation has continued since.

Is ConnectWise profitable?

No audited financials are public. Under former CEO Jason Magee (2019-2025), ConnectWise stated it grew revenue 300 percent and profitability 500 percent (vendor-claimed, as of 2025); third-party ZoomInfo estimated annual revenue near $590.3 million as of July 2026.

Is ConnectWise laying off employees?

Headcount fell from about 4,702 in 2023 to 3,980 by December 2025, a 15.4% cumulative decline including a 5.6% drop in 2025 alone, per Revelio Labs (2026-06-29). Smaller 2024 cuts of under 100 staff and a 2025 summer 'workforce rebalancing' round preceded this.

Who is ConnectWise's biggest competitor?

Kaseya (with Datto RMM/Autotask) is the largest rival by revenue at roughly $1.7 billion versus ConnectWise's estimated $590.3 million (ZoomInfo, 2026-07-20). AI-native challengers Atera and NinjaOne are also pressuring ConnectWise's 24.2% market share as of Q2 2025.

Could AI replace ConnectWise?

AI threatens the labor-hour billing model MSPs use ConnectWise tools to support, since agentic AI can automate Tier-1 ticket triage. ConnectWise responded by shipping its own AI-native 'ConnectWise Platform' to general availability on July 16, 2026, after acquiring agentic-AI startup Zofiq in January 2026.

Has ConnectWise had security breaches?

Yes. ConnectWise disclosed a suspected nation-state-linked breach of its ScreenConnect cloud infrastructure on May 30, 2025, following critical ScreenConnect vulnerabilities including CVE-2024-1708/1709 (CVSS 10.0) and CVE-2025-3935 (CVSS 8.1).

Cybersecurity companies · subsidiary of Thoma Bravo · United States

ConnectWise

connectwise.com ↗

ConnectWise sells the software MSPs use to run tickets, remote access, and security for their clients.

Losing its protection

Assessed 21 July 2026 · Evidence as of 21 July 2026

The structural protection is eroding.

On the recordSince 21 July 2026 · Checkable from H2 2026 · Every call on the record Checkpoint: H2 2026 regional rollout of the new ConnectWise Platform, partner renewal cycles

The call

ConnectWise still sits on top of the MSP software market, but it just replaced its core platform, keeps shrinking its own headcount, and is being chased by AI-native rivals that question why MSPs bill by the hour at all.

ConnectWise makes software that helps IT support companies manage their customers, tickets, and billing. It has been the market leader for 20 years because thousands of support firms have built their entire operations around its system, and switching would be painful. But two things now threaten that position: newer companies like Atera and NinjaOne are building AI-first alternatives that feel easier to use, and AI tools themselves are automating the routine support work that MSPs currently bill customers for by the hour. The company just rebuilt its entire platform from scratch in July 2026, so the next two renewal seasons will show whether customers stay loyal or leave for something newer.

Why

AI pressure: Atera (agentic AIOps platform). Atera and NinjaOne pitch AI that handles Tier-1 tickets, cutting the billable labor hours ConnectWise's tools were built to track. Could AI do the core job? Only partly.

Bigger players: NinjaOne. NinjaOne is pushing from RMM into full PSA territory, going straight after ConnectWise's core ticketing and billing base. Could a giant copy it? No, they are blocked.

What protects it. 100,000+ partners are stuck inside its ticketing and billing system, and switching PSA systems mid-contract is painful for an MSP.

What would change this call

Partner retention data through H2 2026 renewal cycles on the new ConnectWise Platform rollout. Shows whether the rebuilt platform is sticky or driving partners to NinjaOne/Atera.
Whether ConnectWise headcount stabilizes or another layoff round hits in the next two quarters. Indicates if cost-cutting is ending or execution risk is deepening.
Any new ScreenConnect CVE or breach disclosure in the next 12 months. Would signal recurring security liability undermining partner trust.

Key numbers

24.2% global MSP software share, ranked #1 (2025-Q2)
Headcount down 15.4% since 2023, to 3,980 (2025-12)
Revenue estimated around $590.3M (2026-07-20)

Named risks

Repeated critical ScreenConnect CVEs and a May 2025 nation-state breach undermine trust. Severity: high
New ConnectWise Platform (GA July 16, 2026) is unproven; rollout stumble could push partners to NinjaOne/Atera. Severity: high
Continued headcount decline (15.4% since 2023) amid PE cost-cutting under Thoma Bravo. Severity: medium
Leadership churn: CEO, CTO, and cybersecurity execs departed during 2025 platform transition. Severity: medium
Agentic AI compressing the MSP labor-hour billing model that underpins ConnectWise's customer base. Severity: medium

Rivals, as read in July 2026

Rival	Direction	Evidence
Kaseya	losing to	Kaseya revenue ~$1.7B vs ConnectWise's estimated $590.3M as of 2026-07-20
NinjaOne	gaining on	RMM leader expanding into PSA and backup via Dropsuite acquisition, cited 2026-02-27
Atera	gaining on	Named G2's #1 AIOps tool for 2026, markets itself as agentic-AI-first
N-able	contesting	Holds ~16.2% global MSP-software share vs ConnectWise's 24.2% as of 2025-Q2

Questions people ask

Who owns ConnectWise?: ConnectWise has been majority owned by private equity firm Thoma Bravo since a deal announced February 25, 2019 and closed February 28, 2019, valued at roughly $1.5 billion. Thoma Bravo holds six of eight board seats, and periodic sale speculation has continued since.
Is ConnectWise profitable?: No audited financials are public. Under former CEO Jason Magee (2019-2025), ConnectWise stated it grew revenue 300 percent and profitability 500 percent (vendor-claimed, as of 2025); third-party ZoomInfo estimated annual revenue near $590.3 million as of July 2026.
Is ConnectWise laying off employees?: Headcount fell from about 4,702 in 2023 to 3,980 by December 2025, a 15.4% cumulative decline including a 5.6% drop in 2025 alone, per Revelio Labs (2026-06-29). Smaller 2024 cuts of under 100 staff and a 2025 summer 'workforce rebalancing' round preceded this.
Who is ConnectWise's biggest competitor?: Kaseya (with Datto RMM/Autotask) is the largest rival by revenue at roughly $1.7 billion versus ConnectWise's estimated $590.3 million (ZoomInfo, 2026-07-20). AI-native challengers Atera and NinjaOne are also pressuring ConnectWise's 24.2% market share as of Q2 2025.
Could AI replace ConnectWise?: AI threatens the labor-hour billing model MSPs use ConnectWise tools to support, since agentic AI can automate Tier-1 ticket triage. ConnectWise responded by shipping its own AI-native 'ConnectWise Platform' to general availability on July 16, 2026, after acquiring agentic-AI startup Zofiq in January 2026.
Has ConnectWise had security breaches?: Yes. ConnectWise disclosed a suspected nation-state-linked breach of its ScreenConnect cloud infrastructure on May 30, 2025, following critical ScreenConnect vulnerabilities including CVE-2024-1708/1709 (CVSS 10.0) and CVE-2025-3935 (CVSS 8.1).

Timeline

2026-07-16ConnectWise Platform reaches general availability, rolling out across NA, Europe, APAC
2026-06-08ConnectWise unveils AI-native 'ConnectWise Platform' replacing troubled Asio effort
2026-01-19ConnectWise acquires agentic-AI startup Zofiq (Toronto, ~15 employees)
2025-12Headcount falls to 3,980, down 15.4% cumulatively since 2023
2025-05-30ConnectWise discloses suspected nation-state breach of ScreenConnect cloud infrastructure
2025CEO Jason Magee departs, ex-Forcepoint CEO Manny Rivelo takes over
2024-09-23ConnectWise closes acquisitions of Axcient and SkyKick
2024ConnectWise lays off fewer than 100 staff to improve operations
2019-02-28Thoma Bravo acquisition of ConnectWise closes, valued near $1.5 billion

Revision history

21 July 2026

First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.

In the same band

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