Menu
​Virsae gears up for global expansion following $3 million capital injection

​Virsae gears up for global expansion following $3 million capital injection

Local cloud provider Virsae is on track to double sales within the next six months after securing $3 million of equity funding from local investors.

Local cloud provider Virsae is on track to double sales within the next six months after securing $3 million of equity funding from local investors.

Ten new investors, including Auckland-based Ice Angels funding entity Ice Funds Limited, have taken a stake in the company as it builds on early success in an emerging category known as unified communications service management - a market worth an estimated US$2 billion.

Since launching in 2013, Virsae has notched up seven-figure revenues, 85 percent of which come from overseas markets, principally the US.

According to the growing business, sales revenue has doubled in each of the last two six-month periods and is on track to double again.

“Investors sat forward when they saw the considerable early success we’ve achieved in what is a largely untapped global market,” says Tony Jayne, CEO, Virsae.

“Through our partners, Virsae already supports hundreds of customers in the US - a market that many New Zealand technology providers have struggled to crack.”

Jayne says Virsae recently signed two new partners, including US East Coast-based provider Continuum and UK partner Kaptec, opening the door to hundreds of potential new customers.

Going forward, Jayne believes the new capital will accelerate further development of the company’s flagship product Virsae Service Management (VSM) and add horsepower to sales and marketing.

On the latter front, Jayne says Virsae plans to add salespeople in the UK and on both coasts of the US.

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.

At present, Virsae’s largest US partner Arrow SI, alone, manages communications for an estimated 10 million end-users.

Jayne says the company has more than 30 staff, including a team of New Zealand-based developers with VSM currently processing more than four billion transactions a month.

“We’re really pleased with our progress, but we’re only scratching the surface in what is a multi-billion dollar category,” Jayne adds.

“We don’t have to wrestle a dominant player to the ground; our biggest job is educating the market and getting customers to recognise that maintaining reliable enterprise communications is much easier with a specialist tool like VSM than trying to do the job manually or shoehorning traditional IT management tools.”

Last year Virsae signed up global distributor Westcon Group to distribute VSM to resellers in Europe, the Middle East, Singapore, Australia and New Zealand.

In addition, the company also has re-sales agreements with California-based Altura - one of the largest communications solutions and services organisations in North America - and UK-based Azzurri Communications.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Cloudunified communicationswestconVirsae

Featured

Slideshows

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA

Reseller News has honoured the leading female front runners of the New Zealand ICT industry at the 2019 Women in ICT Awards (WIICTA) in Auckland. The awards recognised standout individuals across six categories, spanning Entrepreneur, Rising Star, Shining Star, Community, Technical and Achievement. Photos by Gino Demeer.

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA
Reseller News kicks off awards season in 2019 with Judges' Lunch

Reseller News kicks off awards season in 2019 with Judges' Lunch

The 2019 Reseller News Innovation Awards has kicked off with the Judges Lunch in Auckland with 70 judges in the voting panel. The awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors. Photos by Christine Wong.

Reseller News kicks off awards season in 2019 with Judges' Lunch
Reseller News welcomes industry figures for 2019 Hall of Fame lunch

Reseller News welcomes industry figures for 2019 Hall of Fame lunch

Reseller News welcomed 2018 inductees - Chris Simpson, Kendra Ross and Phill Patton - to the third running of the Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed the changing landscape of the technology industry in New Zealand, while outlining ways to attract a new breed of players to the ecosystem. Photos by Gino Demeer.

Reseller News welcomes industry figures for 2019 Hall of Fame lunch
Show Comments