Company to Use Funds to Accelerate Market Penetration, Product Innovation and Leadership in Collaboration Monitoring and Analytics
AUSTIN, Texas–(BUSINESS WIRE)–July 10, 2019–
Vyopta, the leading developer of monitoring and analytics tools to optimize workplace collaboration, today announced the close of a $7.5 million Series B funding round by Elsewhere Partners. The funding will be used to deepen integrations with leading collaboration vendors including Cisco, Microsoft, Zoom and others, advance its platform’s ability to optimize collaboration performance, adoption and ROI, and expand its customer success and go-to-market teams.
“Companies are investing billions of dollars in collaboration technology and conference rooms to improve how their teams work together. Vyopta gives our customers the visibility and insights they need to fully leverage their technology investments, raise conference room utilization, and improve employee productivity,” said Alfredo Ramirez, CEO of Vyopta. “We are seeing accelerated traction with 80% growth in new and expansion business in the first half of 2019, and we look forward to working with Elsewhere Partners to improve the value we provide our customers and build a great company.”
Many of the world’s largest financial institutions, technology companies, healthcare providers, federal government agencies, pharmaceutical companies, and managed service providers rely on Vyopta to optimize their investments in collaboration technology (e.g., video, voice, messaging, conferencing) and conference rooms. Hundreds of large enterprises, including AIG, AstraZeneca, Shared Services Canada, Stanford University, and the US Department of Veterans Affairs use its Collaboration Performance Management and Room Insights products.
“Elsewhere Partners is committed to helping proven B2B software disruptors like Vyopta effectively scale their businesses,” said Chris Pacitti, founder and partner of growth-stage venture firm Elsewhere Partners. “With a strong leadership team and tremendous market traction, Vyopta has established itself as the clear market leader of application performance management for unified communications, and the additional growth capital will help Vyopta further strengthen that position.”
To further support Vyopta’s accelerated growth plans, Rod Favaron, who brings decades of operating experience as CEO of several companies including Spredfast and Lombardi Software, will join the Board as Chairman. In addition, Betsy Webb will join Vyopta’s advisory board. With over 18 years of experience at Microsoft, including serving as general manager of unified communications, Webb will help the company accelerate its Microsoft product and go-to-market initiatives.
“Enterprises need the right data and insights to get the most out of their investments in collaboration technology and workplace transformation initiatives,” said Favaron. “I am excited about the future of Vyopta and the impact the company is making for its customers.”
Vyopta is a leading provider of monitoring and analytics tools to optimize workplace collaboration. By monitoring conference room utilization and video, voice, and messaging technology from Cisco, Microsoft, Zoom, Poly, BlueJeans, Pexip, and more, Vyopta helps companies improve collaboration technology performance, reduce inefficient conference room usage, and lower costs. Our products are used in over 20 industries by the largest enterprises and managed service providers in the world including AIG, AstraZeneca, Shared Services Canada, Stanford University, and the US Department of Veterans Affairs. To learn more, visit http://www.vyopta.com.
About Elsewhere Partners
Elsewhere Partners is a growth-stage venture capital firm that invests in Elsewhere Outliers – business software companies that are located outside of traditional venture capital hubs and have achieved substantial customer traction and revenue growth without significant outside funding. Elsewhere Partners combines transitional capital with transformational expertise to help companies achieve exit readiness on their founder’s timetable. To learn more, visit www.elsewhere.partners.
VP Marketing, Vyopta Incorporated
Connexa Communications for Elsewhere Partners