Splashtop, a distant entry and assist platform for companies, has raised $50 million in a spherical of funding led by Sapphire Ventures, valuing the corporate at $1 billion.
The increase comes as companies of all sizes have needed to embrace distant work because of the pandemic, opening the door to corporations like Splashtop that had been designed with “remote” in thoughts. The San Jose-based firm, which was based in 2006 as DeviceVM and already claims to be worthwhile, mentioned its enterprise grew greater than 160% in 2020, with its distant entry visitors greater than tripling.
In a latest report figuring out the highest developments impacting infrastructure and operations for 2021, Gartner recognized “anywhere operations” as the highest development. It famous:
Gartner expects that 48% of staff will make money working from home, even after the pandemic, in contrast with 30% pre-pandemic. This shift will power IT executives to develop versatile and resilient organizations that allow employees to work from wherever, permit prospects in every single place to entry providers, and handle the deployment of enterprise providers throughout distributed infrastructures.
Splashtop solves two principal issues. Virtual non-public community (VPN) use surged in 2020 as companies sought to safe their house employees’ networks, however with a whole lot or hundreds of individuals connecting to a company community by a VPN, this is usually a drain on IT sources, decelerate visitors, and even compromise safety.
Remote entry instruments comparable to Splashtop, which could be deployed on-premises or within the cloud, permit companies to open entry to a particular machine or software somewhat than opening the whole community, as is the case with a VPN. The U.S. Cybersecurity and Infrastructure Security Agency (CISA) final 12 months warned of a number of the pitfalls of utilizing VPNs. It famous that as a result of VPNs are 24/7, organizations are much less more likely to hold the VPN infrastructure up to date with the most recent safety updates and patches, because of the largely handbook nature of the work.
“During COVID, enterprises and SMBs are coming to Splashtop to enable work-from-home, bypassing legacy VPNs which do not scale and face many reliability and security challenges,” Splashtop founder and CEO Mark Lee informed VentureBeat.
Underpinning the Splashtop platform is AI, machine studying (ML), and knowledge analytics that it makes use of to watch visitors patterns or cloud computational sources, issuing an alert if it spots anomalies or suspicious exercise.
Lee mentioned corporations like Disney, CBS, NBC, and the BBC are additionally utilizing Splashtop to edit movies by way of a duplicate of Adobe Premiere Pro that’s put in on an area machine. “Schools are [also] using Splashtop to enable remote learning through accessing school labs running Adobe, Autodesk, and other specialized software that students don’t have at home,” he added.
Additionally, with technical assist groups not accessible to assist in particular person, Splashtop presents cloud-based distant assist for IT groups to log in and troubleshoot their staff’ machines from afar.
Splashtop presents an enterprise-specific service that features further options, comparable to single-sign-on (SSO), with integrations for Microsoft Active Directory, JumpCloud, OKTA, OneLogin, and extra. Moreover, corporations can combine Splashtop into enterprise providers comparable to Salesforce, Jira, Zendesk, Freshdesk, and ServiceNow so assist groups will help their finish customers with out having to modify from their assist desk instrument of selection.
Above: Splashtop integration with ServiceNow
Splashtop had beforehand raised $46 million, with its final increase coming a decade in the past when it was nonetheless referred to as DeviceVM. The firm rebranded as Splashtop in 2010, taking the title of its widespread distant assist software program.
Although “unicorns” are just about a dime a dozen within the expertise realm today, Splashtop claims one notable differentiator from lots of the corporations with billion-dollar-plus valuations — it has been worthwhile since 2015. It will use this newest money injection to capitalize on its speedy progress over the previous 12 months, which has delivered revenue margins of 60%.
Other traders on this spherical embody Storm Ventures, NEA, and DFJ DragonFund.
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