Verismic Investing in Growth with TIMIA Capital
TIMIA’s investment in Verismic will help them further develop their product and supercharge their marketing and sales efforts.
In June, TIMIA Capital announced a $2 million investment facility for Verismic Software, a global cloud-based IT management and security solution provider. Headquartered in Aliso Viejo, California and Basingstoke, Hampshire, Verismic is most well known for its Cloud Management Suite—an agentless, cloud-based solution for inventory, patch management, remote control, and software distribution across all endpoints and form factors.
Following the announcement of the partnership, we spoke to CEO, Ashley Leonard and Marketing Manager, Heidi Smith to dive a little deeper into where the company came from, what it stands for, and where it’s going next.
Where it all began
Established over 10 years ago, Verismic has worked with more than 500 companies and managed service providers (MSPs). Their cloud-based solutions manage endpoint deployments ranging in size from 100 to 100,000 devices.
Verismic has grown deliberately and continuously over the past 10 years. Today the company has offices in four countries and has expanded its global footprint efficiently with channel partners in nine countries around the world.
Diversity is at the heart of Verismic’s culture. Half of the leadership team is female and there is equal male and female representation on most teams throughout the organization. Heidi said, “As a woman, you don’t have to fight to have your voice heard. We simply have an Innate culture of equality at Verismic.”
The company’s mission is to help organizations “manage everything, everywhere, from the cloud.” They’re a one-stop shop that helps organizations simplify the process of IT management and remediation.
Why revenue financing was a good fit
The Verismic team met with TIMIA Capital at the SaaStr Annual Conference in the Bay Area. Revenue financing appealed to them as it gave them access to the cash they needed to take the business to the next level and increase its valuation for future equity rounds.
“We are a fast growing SaaS company and we want to maximize the valuation of the business for when we do our next VC round,” said Ashley, “TIMIA’s investment will allow us to push back our next funding round so we can increase our valuation, protect our equity, and get a better deal for the business in our next venture capital round.”
Investment to fuel product development and scalability
Today, Verismic’s software portfolio includes a range of cloud management and security suites including:
- Cloud Management Suite (CMS)
- Patch as a Service
- Application Packaging Service
With TIMIA’s investment, the company intends to further invest in product development. It also plans to expand its marketing and sales teams to further build inbound and outbound pipeline and drive more growth in their key verticals including health care, government, education, financial services, legal, manufacturing, retail, transportation, and utilities.
Verismic is in an exciting space and we look forward to following them as they continue on their growth path.