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Krista Macomber, senior analyst at Evaluator Group, said an IPO filing was surprising due to the economic uncertainty at the macro scale, but it makes more sense when looking at what organizations are spending their IT budgets on. In a study published in April, Evaluator Group found that customers were investing more into cybersecurity, data protection and cloud in the COVID-19 era. This is in response to new security holes that opened up with a remote workforce and to bad actors seizing the opportunity of the increased attack surface.
“We are seeing some pockets of IT spend that are favorable for Datto,” Macomber said.