Splashtop secures $50 million to expand its remote access platform in the enterprise

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Splashtop, a remote access and assist platform for companies, has raised $50 million in a spherical of funding led by Sapphire Ventures, valuing the firm at $1 billion.

The increase comes as businesses of all sizes have had to embrace remote work due to the international pandemic, opening the door to corporations reminiscent of Splashtop which had been designed with “remote” in thoughts from the get-go. The San Jose-based firm, which was based in 2006 as DeviceVM and already claims to be worthwhile, mentioned that its enterprise grew greater than 160% in 2020, with its remote access visitors greater than tripling.

In a current report figuring out the high tendencies impacting infrastructure and operations for 2021, Gartner recognized “anywhere operations” as the primary pattern. It famous:

Gartner expects that 48% of workers 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 workers to work from wherever, enable clients in all places to access companies, and handle the deployment of enterprise companies throughout distributed infrastructures.

Splashtop solves two primary issues. Virtual non-public community (VPN) use surged in 2020 as businesses sought to safe their house staff’ networks, however with lots of or 1000’s of individuals connecting to a company community by means of a VPN, this could be a drain on IT assets, decelerate visitors, and even compromise safety.

Remote access instruments reminiscent of Splashtop, which ca be deployed on-premises or in the cloud, enable companies to open access to a particular system or utility relatively than opening the complete community as is the case with a VPN. The U.S. Cybersecurity and Infrastructure Security Agency (CISA) final 12 months warned of a few of the pitfalls of utilizing VPNs, noting that as a result of VPNs are 24/7, organizations are much less possible to preserve the VPN infrastructure up to date with the newest safety updates and patches due to 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 advised VentureBeat.

Underpinning the Splashtop platform is AI, machine studying (ML), and knowledge analytics which it makes use of to monitor visitors patterns or cloud computational assets, issuing an alert if it spots anomalies or suspicious exercise.

Lee mentioned that corporations together with Disney, CBS, NBC, and the BBC are additionally utilizing Splashtop to edit movies utilizing a duplicate of Adobe Premiere Pro that’s put in on a neighborhood 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 out there to assist in-person, Splashtop provides cloud-based remote assist for IT groups to log in and troubleshoot their workers’ machines from afar.

Enterprising

Splashtop provides an enterprise-specific service which incorporates additional options reminiscent of single-sign-on (SSO), with integrations for Microsoft Active Directory, JumpCloud, OKTA, OneLogin, and extra. Moreover, corporations can combine Splashtop into enterprise companies reminiscent of Salesforce, Jira, Zendesk, Freshdesk, and ServiceNow, in order that assist groups can assist their finish customers with out having to change from their assist desk instrument of selection.

Above: Splashtop integration with ServiceNow

Prior to now, Splashtop had raised $46 million, with its final tranche of funding falling a decade in the past when it was nonetheless often known as DeviceVM. The firm rebranded as Splashtop in 2010, taking the identify of its well-liked remote assist software program.

Although “unicorns” are just about dime-a-dozen in the know-how realm lately, Splashtop claims one notable differentiator from a lot of the billion-dollar-plus valued corporations — it has been worthwhile since 2015. Its newest money injection will likely be used to capitalize on its fast progress over the previous 12 months, which has seen its revenue margins hit 60%.

Other traders in this newest spherical embrace Storm Ventures, NEA, and DFJ DragonFund.

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