Follow-on Investment : Viocorp
Sydney, Australia – Bailador Technology Investments (ASX: BTI) is delighted to announce an additional $2.0m investment in Viocorp International Pty Ltd (“Viocorp”), a cloud based video management platform for corporate and government enterprises.
Viocorp has put in place the foundations for the company to scale rapidly and has raised a total round of $3.0m to fund the next stage of growth. The company has demonstrated outstanding growth in its key metrics over the 12 month period ending 31 Dec 2015:
- 280% growth in Average Contract Value
- 64% growth in Enterprise License Fee Revenue
- An increase in the % of total revenue that is recurring, from 44% to 91%
David Kirk, Co-Founder and Partner at BTI, commented, “About a year ago Viocorp hit a growth inflection point and we are delighted to be able to support Viocorp in the next stage of its growth.”
Greg Miner, CEO of Viocorp, commented on the funding, "Viocorp's market growth over the past year has been terrific, and we're capitalising on that momentum to enhance our product, expand our capabilities and scale our customer base. 2016 is set to be a very exciting year for our business."
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