AUCKLAND, New Zealand, March 9, 2017 /PRNewswire/ -- Global cloud services provider Virsae has secured a second round of equity funding, with newly-established New Zealand private equity firm Darby Capital Partners (DCP) taking a multi-million dollar stake in the fast growing UC monitoring business.
Launched in 2013, Virsae has notched up seven-figure revenues from sales of the company's flagship product, Virsae Service Management (VSM), which monitors unified communications systems (phones and messaging systems that run on IT networks).
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 Limited.
DCP director Zak Darby said his company's stake in Virsae was the first step in a plan to build a portfolio of investments in high-growth technology companies in the Asia Pacific.
"Virsae has come a long way in a short time in a multi-billion dollar market. The company is stacked with seasoned entrepreneurs. And like Xero, Virsae is built in the cloud, which is rare in the UC category. As competitors retro-fit traditional applications for cloud delivery, Virsae has gapped the field. It's a great story."
Mr Darby said his firm's strategy centred on taking "non-control minority investment" in high-growth technology companies, providing "transformative capital" and business development.
"We are uniquely positioned to help Australasian businesses scale internationally by leveraging our international investor base and network, which includes Ric Kayne," he said.
Mr Kayne is the co-chairman and founder of Kayne Anderson Capital Advisors L.P, a US$26 billion investment firm based in Los Angeles.
Virsae CEO Tony Jayne said that while Virsae had proved itself on a global stage, new capital and business connections through DCP were critical to small tech providers situated at the bottom of the world.
Today the company has more than 30 staff, including a team of New Zealand-based developers, and each month processes more than seven billion transactions created by hundreds of thousands of end-users.
The company uses an indirect sales model, and currently manages 24 business partners 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 is ranked Number 308 on the Deloitte Technology Fast 500™ Asia Pacific 2016.
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