Venture Capital News: Dizzion Secures $6.4M Series A1
DENVER, CO, Full-service End User Computing (EUC) provider, announced today a $6.4 million Series A1 funding round.
Dizzion, Inc., a full-service End User Computing (EUC) provider, announced today a $6.4 million Series A1 funding round co-led by investors Grotech Ventures and Access Venture Partners, with Point B Capital and Correlation Ventures rounding out major investments. The round also marks the addition of retired ViaWest Chairman, CEO, and Co-Founder Roy Dimoff, to Dizzion's board of directors. Dizzion will leverage new resources to grow its staff, expand its partner program and further refine virtual desktop technologies to serve industries with some of the most challenging workforce environments including business process outsourcing and the healthcare, financial services and insurance industries.
Dizzion enables end users to securely access applications and data from their desktop on any device, responding to the enterprise shift to cloud and global workforce trends including third-party contracting, work-from-home programs and a greater requirement for organizations to protect data. Dizzion is expected to achieve record growth in 2016, following three consecutive years of more than 100 percent year-over-year growth in terms of revenue, customer base and personnel. Specifically, Dizzion has experienced average annual revenue growth of 207 percent since its inception.
'Dizzion is addressing a colossal shift in the workforce toward remote employees, cloud computing and application integration-and it's not an easy transition for most companies,' said Steve Prather, CEO, Dizzion. 'We are committed to providing the only virtual desktop that eliminates the complexity of traditional desktop management while addressing endpoint security and compliance risk, and we want to thank our investors for sharing in this vision.'
The Virtual Desktop Infrastructure (VDI) market is expected to exceed $11 billion by 2023, which is underscored by the fact that Dizzion has grown more in the past six months than all of 2015. The company will use the recently acquired funds to invest in three key areas:
Expanding solutions for VDI and Desktop-as-a-Service (DaaS) technology, including a specific focus on HIPAA and PCI compliance
Refining and growing its channel partner program, which is currently responsible for 55 percent of overall revenue
Growing its workforce by 130 percent in 2016 and again in 2017, with a commitment to a collaborative and transparent culture
'Industries like healthcare and finance are some of the fastest growing markets in the world and yet also the most at risk for security breaches, shrinking margins and talent drain,' said Joe Zell, General Partner, Grotech. 'Dizzion has created a virtual workforce solution that makes it possible for these firms to expand the use of remote employees while actually improving security and compliance and lowering cost.'
'Dizzion is proving that a wide range of companies and industries can benefit from implementing these types of cloud technologies, including solving critical business challenges, lowering IT costs and mitigating risks-all qualities we value,' said Brian Wallace, Managing Director, Access Venture Partners. 'We're pleased to support Dizzion and look forward to accelerating its growth as it redefines how the world works.'
Dizzion services companies around the globe, including major brands like AARP, Delta Dental, and TELUS International. In addition to working with 40 plus channel partners, including ViaWest, Zayo, CarrierSales, SPS, and HOSTING.
Visit our blog to learn more about the funding announcement, and for more information on employment opportunities with Dizzion, please visit the careers page.
Established in 2011, Dizzion, Inc. is a global provider of end-user computing services, including cloud-delivered Desktops as a Service (DaaS), paired with complementary offerings like secure endpoints, application delivery and storage. The company is delivering the next generation of virtual desktop solutions to meet the demands of a remote global workforce in industries with stringent security and compliance needs, including business process outsourcing, financial services, healthcare and insurance. Dizzion's mission is to enable users to securely access applications and data from any device, anywhere increasing mobility and productivity. To learn more about Dizzion, visit www.dizzion.com.
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