Accelerate Fund II today announced its investment in Userful Corporation, the Calgary and California-based technology company that has grown to become a leading provider of visual communication solutions. Today Userful announced it has closed its first round of funding, led by Accelerate Fund II, managed by Yaletown Partners and with support of The A100. In addition, Userful also announced three new members of its board of directors: Karen Willem, John LeMoncheck, and David Edmonds.
As described in the company’s press release, “Userful’s Visual Networking Platform enables IT teams to display content from any source on any screen at any time for communication and collaboration enterprise wide; improving an organization’s operating efficiency up to 80 percent, while reducing total cost of ownership by 40 percent or more.”
“Organizations around the world are significantly increasing their use of visual display applications to address a variety of needs from process automation and operational productivity to improved customer engagement and internal communication,” said John Marshall, CEO of Userful. “To meet these rapidly growing requirements, corporate IT departments need hybrid solutions — on-premise software, cloud services, centralized management, integration with smart displays — for simplified, cost-effective, flexible, and globally scalable deployments that integrate complex AV applications over the IP network.”
“Userful has brought together a compelling solution for video communications across the enterprise – one that’s flexible, more affordable and easier to implement,” said Brad Johns, Partner at Yaletown Partners and A100 member. “We believe Userful’s platform to broadcast content directly from the cloud holds great promise as use of video and visual communication expands rapidly across industries.”
“Accelerate Fund II is thrilled to have led this round and look forward to contributing to the continued growth of Userful as investors and board advisors,” added David Edmonds, active member of the A100 and Chair of the Accelerate Fund II’s Industry Committee. In his career David has been a founding member of six technology companies including Burntsand Inc., which grew to 10 locations across North America with more than 500 employees and $81-million in revenue.
The Userful team will apply this first round of funding to ramp up development for its enterprise AV-over-IP solution.