San Jose, California, January 27, 2021-Splashtop Inc., an emerging leader in the next generation of remote access and remote support, has completed a new round of financing of US$50 million, and its valuation has surpassed a US$1 billion unicorn level. This round of financing was led by existing investor Sapphire Ventures, including the participation of other long-term Splashtop investors Storm Ventures, NEA and DFJ DragonFund.
“During the COVID-19 pandemic, our continued profitability and growth have accelerated. This proves that Splashtop’s modern remote access method is changing the way people use digital resources for work, study, and entertainment, no matter when, where, How to use it.” said Mark Lee, Co-founder and CEO of Splashtop. "We are now financing at a unicorn valuation to expand our brand and growth momentum. So that we can attract talents, expand corporate influence, and accelerate global expansion to attract customers everywhere."
Splashtop's $1 billion valuation validates its performance and market vision
Unlike most unicorns who ignore financial profitability when pursuing high growth, Splashtop has maintained sustained profitability while growing rapidly since 2015. The company's current growth rate is 160%, profit is 60%, showing an excellent level of performance.
Jai Das, President and Partner of Sapphire Ventures, said: “Splashtop is an example of an efficient and agile enterprise technology company. The company demonstrated incredible metrics, including rapid growth, impressive customer satisfaction scores, and Attractive profit margins. We expect Splashtop’s user base will continue to climb rapidly. Its secure remote access solutions are essential for businesses of all sizes, and we expect it to bring about far more changes than people’s The reimagining of where and how to work is much more important."
Splashtop's valuation also intuitively reflects the company's vision to break the status quo of the existing remote work market.
"Splashtop is at the forefront of mainstream IT trends: making it easier to access and use necessary software and data," said Ryan Floyd, founding managing director of Storm Ventures. The company has invested in Splashtop since it received Series A financing. "Splashtop replaces awkward, complicated, and expensive remote access traditional methods (such as virtual private networks), providing a modern cloud-native method that can safely and easily access any digital asset anytime, anywhere."
Facilitate anti-epidemic telecommuting into the new normal
The new crown pneumonia epidemic has made it impossible to use corporate and academic computing resources on a global scale. The epidemic has also promoted an increase in the demand for Splashtop solutions from companies (including large enterprises).
Research and consulting firm Gartner Inc. listed Trend No. 1 as “Operating Anywhere” when determining “the main trends affecting infrastructure and operations in 2021”. Gartner predicts that even after the COVID-19 pandemic is over, 48% of employees will still work at home, compared with 30% before the pandemic. This shift will prompt IT executives to build flexible and resilient organizations that allow employees to work from anywhere, allow customers everywhere to access services, and manage the deployment of business services across distributed infrastructures. "
In the past year, Splashtop has provided services to more than 400 Fortune 500 companies including Disney, FedEx, General Electric, Marriott, and Toyota. In addition, it has also served government and educational institutions (such as the US Centers for Disease Control and Prevention ( CDC), Harvard University, Stanford Healthcare Corporation) provide services, and a research laboratory that can support large pharmaceutical companies in COVID-19 vaccine research.
Splashtop enables leading companies to flourish
"Adobe's customers (who use industry-leading Creative Cloud products in broadcast media, graphic design, scientific research, engineering, education, etc.) need to maintain productivity when working remotely, which is something that many people have to do since the beginning of the epidemic Things.” said Sue Skidmore, director of partnerships at Adobe Video. "It turns out that Splashtop's remote desktop solution is very valuable to many video content creators. They can run Adobe applications on any device, just like sitting in front of a high-performance office computer."
"As we have seen in the global pandemic, remote access is vital to the success of any business. We are very happy to work with Splashtop. Their reliability, performance and customer support are helping us, our customers Providing excellent service with employees far exceeds our expectations," said Joel Nichols, vice president of Quanterix Information Systems, a biomarker analysis company. "Our revolutionary technology is helping researchers around the world to advance the development of precision medicine."
Also in 2020, Splashtop is expanding its global reach, including establishing new partnerships in EMEA, South America and Asia. In Europe, the company opened an EMEA headquarters in Amsterdam and expanded its Euro and local multilingual support. In Asia, the company opened its Asia-Pacific channel headquarters in Singapore, provided support to hundreds of channel partners, and established corporate channels in many countries/regions, including Japan.
Xu Huajiang, General Manager of Splashtop China Branch, said: “China is an important strategic market. With the rapid growth of Splashtop, we will also invest more resources in China, establish solid channel partnerships, and provide excellent services to Chinese companies. The enterprise establishes a new working mode under the new normal to enhance its productivity."
About Splashtop
Splashtop Inc. provides next-generation remote access and remote support software and services for enterprises, academic and research institutions, government agencies, small businesses, MSPs, IT departments and individuals. Splashtop's cloud-based, secure and easy-to-manage remote access method is gradually replacing traditional methods such as virtual private networks. The product has achieved an astonishing 93% NPS (Network Recommendation Score-a standard for evaluating customer satisfaction).
Splashtop products have more than 30 million users worldwide, including more than 400 Fortune 500 companies.