StarLeaf Raises $40 Million to Accelerate Worldwide Growth in Video Conferencing Market
StarLeaf, the leading cloud platform for enterprise video conferencing and calling services, raises $40 million in funding from Highland Europe, Grafton Capital and the founders, marking the first time the company has taken outside investment.
StarLeaf will use the new funds to support its accelerating growth, as an increasing number of customers, distribution partners and video endpoint manufacturers recognize the unparalleled capabilities of its OpenCloud platform. StarLeaf and its network of channel partners currently sell into 50 countries worldwide, with a rapidly growing enterprise customer base. StarLeaf will also be investing in its Asia Pacific business to capitalize on this rapidly growing region.
StarLeaf CEO, Mark Loney, said: “Enterprises are shifting towards video as it is a much better means of communication than a voice call or conference. However, businesses often have a variety of legacy systems making it difficult to connect with customers and suppliers who may have different systems. Our cloud service solves these issues, while taking away the pain of running your own back-end systems. This new funding will take us through our investment phase and give us the working capital we need to reach our potential in markets around the world.”
Laurence Garrett, partner at Highland Europe, who will become a non-executive director of StarLeaf said: “I am so thrilled to be investing in StarLeaf today as I have followed the team for 12 years and have been a StarLeaf customer since 2013. StarLeaf has built its solution from the ground up which gives it a real advantage in ease of use and quality. It offers real interoperability between different vendors which is unique in this market place and is delivering really high quality calls and a brilliant level of service.”
Oliver Thomas, partner and co-founder at Grafton Capital, who will also become a non-executive director of StarLeaf said: “After many years pursuing the opportunity to work together, it is a privilege to be investing alongside these excellent people and world class technologists. StarLeaf is improving the quality of business communications around the world and we are proud to be supporting its expansion.”
StarLeaf is a service provider with a global platform that delivers secure, reliable and rich meeting and calling services to organizations around the world. www.starleaf.com
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Highland Europe is exclusively focused on Growth Stage internet, mobile and software businesses. www.highlandeurope.com
About Grafton Capital