Austin-basedannounced its first round of venture funding today.
The $5 million round will help the growing startup continue to assist companies in their use of video. Vyopta plans on increasing its 25-person team to more than 60 by July, with new hires in software development, product management, sales, marketing and customer success.
“Vyopta is a rising player in Austin’s tech scene, and we are excited to use this funding to develop our products and build out our organization with over 35 planned hires in the next few months,” said Alfredo Ramirez, CEO of Vyopta. “Our partnership with AVX will ultimately help to establish Vyopta as a core technology company in Austin and in our industry."
The company is known for its vAnalytics™ platform, which provides a single, intuitive system for large enterprises to monitor, support and optimize their growing video and unified collaboration networks.
The round was led by Austin-based AVX Partners (AVX). AVX Partners will provide a designated team of C-suite-level operational advisors to support Vyopta with marketing, development and operations. The advisory team includes three alumni of Austin-based SolarWinds: former CEO Mike Bennett, former CMO Rita Selvaggi and former VP of Technology Josh Stephens.
“Vyopta built a competitive product set without any outside capital—something that takes a lot of discipline and is unique in early-stage tech companies,” said Mike Bennett, former CEO of SolarWinds. “The video and unified collaboration market is growing significantly and now Vyopta will be well-positioned to be a leader in the industry.”
Know of a company that deserves coverage? Email us a tip.