ConnectSolutions has raised $10 million in its first round of funding.
The company sells private, managed clouds with voice and telephony, web conferencing, messaging, and video streaming capabilities to business customers.
“Our products are used by millions of people in the top Fortune 1000 and government agencies each year to collaborate and communicate virtually from around the globe,” said CEO Michael Fitzpatrick in an email interview. “These customer collaborate on new products launches, train their workforce and partners, leverage us for sales and marketing support, and even coordinate with first responders during national emergencies.”
Customers include financial organizations, large corporations, technology companies, and 12 government agencies. ConnectSolutions claims to have delivered more than 4 billion minutes of collaboration on its UC3 Managed Cloud product and has been profitable for several years. The executives decided to take this first round of funding to accelerate the company’s growth. The company will use the new funds for development and commercialization of its technology and possibly for some acquisitions.
Competitors include Cisco WebEx and IBM SameTime. Frontier Capital led this round. ConnectSolutions was founded in 2007 and currently has 50 employees, with headquarters in San Francisco. You can read the filing here.