Auckland-based cloud services provider Virsae is looking to raise NZ$3 million from equity investors to accelerate international growth.
Developed and launched in 2013 by unified communications specialist Agile, Virsae provides cloud-based applications that manage unified communications and call centre environments.
According to the local business, the new capital will drive Virsae’s product development and bolster sales teams and partners across both the USA and UK.
Currently 85 percent of Virsae’s seven-figure revenue is from international markets and at present, the company has more than 30 staff, including a team of New Zealand-based developers, while its flagship product Virsae Service Management (VSM) processes more than two billion transactions a month.
In preparation for the company’s first external equity raising, Virsae has appointed professional director and ex-investment banker Mark Cross, who has taken a stake in the company, to the company’ board of directors.
Virsae CEO Tony Jayne says that while Virsae lacks the profile of cloud businesses, such as Xero, its aspirations are just as bold.
“We’re on a mission to grow a global business at the forefront of cloud-based unified communications service management,” he says.
“This new multi-billion dollar category is largely untapped as businesses recognise the need for specialist toolsets to maintain reliable enterprise communications.
“This is a very exciting stage of our development. Now that voice is firmly entrenched in the IT network, IT managers require specialist tools to understand and manage their communications platforms.
“However, traditional IT service management tools don’t go deep enough, and Virsae is one of a few service management vendors dedicated to managing voice and unified communications.”
Going forward, Jayne believes Virsae’s cloud-based software-as-a-service model is geared for unlimited scale and emerging categories.
“At the centre of VSM is a data and analytics platform that captures unstructured data and presents it as contextually relevant information that drives customer decisions,” he says.
“It is very much the engine room for big data and the internet of things.”
As a business built from the ground up for cloud delivery, Jayne accepts that this is a rarity among unified communications monitoring companies but the funding round follows a string of recent successes for the Albany-based company.
As reported by Reseller News, earlier this year Virsae signed up global distributor Westcon Group to distribute VSM to resellers in Europe, the Middle East, Singapore, Australia and New Zealand.
Virsae has also cemented re-sales agreements with large international technology providers, including Arrow SI, a subsidiary of NYSE-listed US tech giant Arrow Electronics, Altura, based in California as one of the largest communications solutions and services organisations in North America, as well as UK-based Azzurri Communications.
Closer to New Zealand, local customers include government agencies, large manufacturers and retailers, and insurance provider IAG.
Jayne says Virsae’s sights are firmly set on the global Unified Communications Services Management market however, worth an estimated US$2 billion according to the company.
Virsae’s indirect sales model rides on the shoulders of partners, principally large systems integrators, who resell VSM as part of their managed services to corporates.
According to Jayne, Virsae’s largest US partner Arrow SI, alone, manages communications for an estimated 10 million end-users.