Zello Raises $20 Million to Fuel Voice-First Communication Platform for Frontline Workers
AUSTIN, Texas, June 8, 2022 (Newswire.com) - Zello, a voice-first instant communication platform powered by its industry-leading push-to-talk technology, secured $20M in equity and debt funding to support rapid growth with frontline and deskless workers worldwide. The funding was led by Virgo Capital and Recurring Capital Partners.
"With over 5 million monthly active users, Zello is a clear leader in providing voice-first communications to the 2 billion connected frontline workers globally. To date, Zello has achieved remarkable growth without any outside capital, and we are excited to support this next phase of growth," said Guhan Swaminathan, Managing Director with Virgo Capital.
"In addition to serving as a mission-critical communication platform for industry leaders worldwide, including Restoration Hardware, Yellow, Salling Group and Holcim, Zello also provides their robust enterprise platform for free to thousands of first responders around the world," said Brian Henley, Managing Partner at Recurring Capital Partners.
"We are excited to partner with Virgo and Recurring Capital to further help deskless workers gain more efficiency while they get the jobs done that keep our world moving," said Bill Moore, CEO of Zello. "We started as a social radio connecting people and causes around the world with a consumer growth DNA, but transformed into business uses for the retail, transportation, construction and hospitality industries."
With the frontline and deskless workforce growing across industries, businesses have recognized the importance of putting reliable communication tools into their hands. Seamless, clear communication is the key to connecting employees and enabling teams to have instant voice collaboration. Today, Zello's communication platform supports 8 billion voice messages a month with over 1 million new app downloads a month.
"We are so proud of the Zello First Responders program where we provide Zello's enterprise platform at no cost to qualified first responders across the globe," expressed Alexey Gavrilov, Chief Product Officer and Founder of Zello. "The program began in July 2019 and now supports over 1,500 organizations across 65 countries."
About Zello
Zello is a voice-first communication platform, powered by our industry-leading push-to-talk technology, built to improve collaboration and productivity for frontline workers. With over 170 million registered users worldwide and 99.99% uptime, Zello is simple to use, integrate, and manage, connecting your deskless and operations teams with one touch to solve problems, manage exceptions and collaborate more efficiently. Current customers include PepsiCo, Bechtel, Waste Connections, the Salling Group, Lufthansa, Hyatt, Yellow, Hilton, Cemex, and Holcim. Zello is recognized as one of the most reliable communication tools for mobile workers by The Wall Street Journal, New York Times, CBS, CNBC, USA Today, and TechCrunch. zello.com
About Virgo Capital
Virgo Capital is a private equity firm based in Austin, Texas, focused on investments in established software and technology-enabled services companies. Virgo Capital targets companies with revenue of up to $100 million, strong customer relationships, and domain expertise and actively adds value by leveraging the team's extensive experience in areas such as operations, finance, technology, sales and marketing, and mergers and acquisitions. For more information, please visit virgocapital.com.
About Recurring Capital Partners
Recurring Capital Partners provides growth capital to Software as a Service (SaaS) and other recurring revenue model technology-driven companies. Our team of investors and advisors brings deep operating experience in scaling enterprise software companies to support the growth initiatives of our founders and management teams. For more information, please visit recurring.capital.
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Source: Zello
