As many companies transitioned from in-person meetings to video conferencing over the last year, IT departments were left to troubleshoot and manage various video, voice, web conferencing and messaging platforms.
Vyopta, a company providing monitoring and analytics tools aimed at optimizing workplace collaboration, saw several new companies use their platform during this time.
“Pre-pandemic we were pretty much [unified communications] focused, and after the pandemic, we have significantly accelerated our coverage of other enterprise communication and collaboration technologies. That’s really opened the window of opportunity for us to grow more quickly,” CEO and co-founder Alfredo Ramirez told Built In.
The Austin-based company recently announced an $8 million raise from Vancouver, Canada-based Vistara Capital Partners, which grants capital for flexible technology growth. Some of the funding will support expanding go-to-market activities, including research and development. Other funds will help Vyopta expand cloud coverage into federal and regulated organizations, Ramirez said. He said working with some of these businesses requires a FedRAMP cloud certification.
“Over the last 12 months, we have experienced growth,” Ramirez said. “We generated more annual recurring revenue than ever before. And we see 2021 [having] much greater growth and much larger subscriptions now that we’re working with managed service providers.”
To keep up with this growth, Vyopta plans to hire additional staff as needed, including engineers and sales associates.
Founded in 2007, Vyopta is a software-as-a-service (SaaS) monitoring and analytics platform helping IT teams improve video, voice, web conferencing and messaging technologies.
Ramirez calls this collaboration intelligence. If a tool or platform breaks, Vyopta’s system notifies an IT person who can fix it. When in-person meetings take place, its technology also identifies if conference rooms or meeting spaces are not being used properly and offers solutions to make necessary adjustments.
Vyopta previously landed $7.5 million in 2019. Ramirez said the company has raised $21.5 million to date.