Userful Corporation has closed its first round of funding, led by Accelerate Fund II, managed by Yaletown Partners and with support of The A100. The investment in Userful represents the largest single investment by Accelerate Fund II to date.
Userful’s Visual Networking Platform enables IT teams to display content from any source on any screen at any time for communication and collaboration.
“This [AV-over-IP] is a game changer for the industry, and its impact cannot be overstated,” Anthony Brennan, Research Analyst at Futuresource Consulting, noted. “We’re seeing the beginnings of a trend that will shake up the industry, with our forecasts pointing to a volume CAGR of nearly 50 percent during the next five years. Make no mistake, AV-over-IP will transform the way the pro AV market interacts with and controls AV systems.”
“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,” John Marshall, CEO of Userful, added. “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.”
In addition to the funding round, Userful has added Karen Willem, John LeMoncheck and David Edmonds to its board of directors.