New investment enables Thread to accelerate development of its Service Intelligence platform with agentic AI and re-define the ‘System of Action’ for MSPs

Thread, an AI service desk platform for managed service providers (MSPs), announced an $18 million growth equity investment from Susquehanna Growth Equity, an entrepreneur-centric growth equity firm, with participation from Headline, a global venture capital firm. The new capital will accelerate Thread’s development of agentic products designed to move MSPs from reactive ticketing to intelligent, AI-native service delivery. The latest funding round brings Thread’s total capital raised to date to $30 million.

“MSPs are continually asked to do more for their customers with the same people and the same tools,” said Michael Evers, CEO of Thread. “Thread is changing that by becoming the service intelligence layer and system of action. We capture the full story of every interaction and enable MSPs to provide a rapid, world class service experience to their customers.”

MSPs are facing significant pressure from growing client expectations for personalized support, rising labor costs and increasingly complex infrastructure. Thread’s ability to turn every conversation, call and ticket into structured Service Intelligence, enables MSPs to transform the service desk from a cost center into a driver of revenue expansion without inflating headcount.

“MSPs do not need another ticketing tool. They need Service Intelligence that actually makes their teams faster and their businesses more profitable,” said Matthew Linn, Chief Operating Officer and Co-founder of Thread.

Thread supports hundreds of clients by unifying agents, processes, and data into a single service intelligence fabric that learns from every interaction. By doing so, Thread automates ticket creation, routing, documentation and resolution, turning reactive support into proactive and predictive service while reducing per-job costs.

“Thread remembers every ticket, learns from every outcome, and feeds that intelligence back into digital workers and agentic AI that can take action,” said Mark Alayev, Chief of Magic and Co-Founder. “This investment allows us to go even deeper and expand our product surface, and build an AI-powered service experience that feels more human to the end user, not less.”

The company started with communication, bringing technicians and end customers together where they already work, including Teams, Slack and chat, and embedding intelligence into daily triage and technician workflows. In addition to agentic AI, where autonomous agents can own and execute tasks and workflows end to end, Thread recently released Voice AI, transforming what has historically been one of the most manual and costly service channels into an intelligent, AI-first experience.

“Thread is at the forefront of one of the most important shifts in the MSP ecosystem: the evolution from reactive ticketing to intelligent, AI-driven service delivery,” said Joe Mihm, an investor at Susquehanna Growth Equity. “The team has demonstrated remarkable execution and vision building the market leading solution, and we’re thrilled to support Thread as it scales its platform, expands capabilities, and helps thousands of MSPs deliver smarter, faster and more profitable service.”

About Thread

Thread is the leading AI Service Desk built for MSPs, enabling providers to scale their business without scaling their team. Thread provides an AI-powered Service Desk including real-time chat, unified inbox, workflow automation, and a suite of AI agents, enabling MSPs to accelerate the entire service journey from first contact to resolution and be real strategic partners to their customers. Thread replaces legacy helpdesk infrastructure to deliver 5x faster responses, 78% faster resolution times, and consistent, human-centered support. Learn more at getthread.com.

About Susquehanna Growth Equity

Susquehanna Growth Equity (“SGE”) is an entrepreneur-centric growth equity fund with flexible capital and time horizons. SGE is exclusively focused on growth-stage software, services, internet, and information services companies. The firm has invested over $5 billion in 100+ market-leading technology and services companies over the last 19 years and has portfolio companies across the US, Canada, Europe, and Israel. SGE is backed by a unique and patient source of capital, enabling the firm to give entrepreneurs and management teams freedom and flexibility to maximize growth. To learn more, please visit www.sgep.com.

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