October 20, 2016
Today, Cupertino-based Workspot is announcing the successful close of a $6.2 million Series B round. The latest round is led by Presidio Ventures, with additional support from Follow[the]Seed, Helion, Translink, and WTI. According to a company spokeswoman, Workspot will primarily use the latest capital injection to focus on rapidly accelerating their sales and marketing initiatives. To date, Workspot has raised a total of $21.83 million across six rounds and 10 investors.
Workspot is a VDI or virtual desktop infrastructure company (think Citrix or VMware) that supports VDI 2.0, and states that they can deploy an enterprise class solution within 60 minutes on either Macs or PCs. VDIs are commonly used as a security measure, offering organizations a way to securely deliver apps, desktops, and data to mobile devices through a cloud-native architecture.
The founding team, Amitabh Sinha and Puneet Chawla, both contributed to the initial development and existence of VDI technology, having worked at Citrix and VMware.
“This round of funding couldn’t have come at a more opportune moment, as we’ve been experiencing tremendous growth,” said Amitabh Sinha, the CEO and cofounder of Workspot. “This past quarter alone, we grew our bookings by 500 percent across multiple verticals, including government, healthcare, and education. More than a quarter of our new opportunities were closed jointly with our new channel partners. We are also seeing a surge in interest from Managed Service Providers who want to use our scalable multi-tenant architecture to deliver Desktops as a Service to their customers. We’re excited to continue growing and cultivating Workspot’s reputation as the gold standard for VDI 2.0.”
For startups, there are many reasons for a team to pursue outside funding; however, Workspot’s focus on extending their growth will likely position them for success in an otherwise well-established market.
“Workspot’s leading VDI 2.0 solution enables customers to rapidly deploy virtual desktops and applications to their end users,“ said Shaun Tanabe, director of venture investment at Presidio. “In a world in which secure mobility and accessibility are critical to business success, Workspot demonstrates a proven ROI that fundamentally impacts a company’s bottom line. We couldn’t be more pleased to be partnering with Workspot’s management to help drive the company’s continued momentum.”
As a cloud-based solution, Workspot’s VDI 2.0 solution will also reduce the single-point of failure that can come from native solutions. It’s also considered infinitely scalable, or more specifically as scalable as Amazon can support it.
“Knowing the challenges most enterprise companies face first hand, we decided to invest in Workspot – the leader in the enterprise VDI market,” said Ajoy Mallik, Founder and Managing Partner at Follow[the]Seed. “With excellent customer traction, a solid team and great existing investors, it is our privilege to be part of Workspot’s growth story.”
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