Cloud services provider Virsae has secured a multi-million dollar second round of equity funding and is on the hunt for resellers to help fulfil its global ambitions.
Virsae’s flagship product, Virsae Service Management (VSM), monitors unified communications systems.
New Zealand private equity firm Darby Capital Partners (DCP) has taken a multi-million dollar stake in the Auckland-based business.
DCP’s investment comes a year after Virsae raised $3 million of equity funding from 10 investors, including Auckland-based Ice Angels funding entity Ice Funds Ltd.
The new investment will be used to boost sales distribution in the US and UK, which now account for 90 per cent of sales, and to extend VSM’s capabilities to additional unified communications platforms.
“Virsae has come a long way in a short time in a multi-billion dollar market,” DCP Director, Zak Darby, said.
“The company is stacked with seasoned entrepreneurs. And like Xero, Virsae is built in the cloud, which is rare in the UC category.”
Virsae CEO, Tony Jayne, said DCP offered strategic advice and international connections as well as capital.
Jayne said near-term goals included adding resellers and developing capabilities that drilled deeper into software from major vendors such as Microsoft, Cisco, and Mitel.
The company uses an indirect sales model, focusing on technology service providers to resell VSM as a component of a larger service maintenance programme.
Currently, 24 business partners have established Virsae in key markets around the world, including US giant Arrow SI, Californian-based Altura, Maintel and 4Net from the UK, and global systems integrator AGC Networks.
Virsae has more than 30 staff and was ISV of the year at the 2016 Reseller News ICT Industry Awards.