CEO Ken Hayward says VCopious is now “into a stage of development geared toward market facing activity,” and capital raised in this round of funding will go toward global expansion. VCopious also announced that Siemens Corporation has signed a multi-year agreement to use the VC2 platform, billed as the “world's first virtual spaces application server appliance.” The firewalled networking, socializing and tracking tool allows people to meet in cyberspace, regardless of physical location.
VCopious already has a strong relationship with SAP, which it counted as one of its first customers. “It's a proven model,” says Hayward of the technology that was built with no original outside financing. “Unlike other tech startups that are trying to raise money to build the technology, we've been out raising money to expand market activities.”
The next step for VCopious is to build out a sales organization that's focused on high level direct sales to enterprise, and then find distribution partners that will move the product beyond the reach of its own direct sales force, according to Hayward. “One of the most sought-after destinations is around collaboration, ecommerce and social media. Between those, the VCopious platform is an aggregation tool for all those capabilities.”
While Hayward will not talk about revenue or company growth in concrete terms, he projects that the company's staff will double by the end of 2012, from 25 to 50 employees, which is impressive for a company that only launched in early 2010.
Source: Ken Hayward, VCopious
Writer: Sue Spolan
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