SAN JOSE — Splashtop Inc., a provider of next-generation remote access and remote support, has closed a $50 million financing round that pushes its valuation above the $1 billion unicorn level. Led by existing investor Sapphire Ventures, the latest round also includes participation by other long-time Splashtop investors Storm Ventures, NEA and DFJ DragonFund.
“Our sustained profitability and growth—which accelerated during the COVID-19 pandemic—validate that Splashtop’s next generation remote access solution is making a real difference in how, where and when people can use the digital resources they need to work, learn and be entertained,” said Mark Lee, co-founder and CEO of Splashtop. “We’re fundraising now at unicorn valuation to amplify our brand and momentum so we can attract talent, expand our enterprise presence, and accelerate our global expansion to delight customers everywhere.”
The company says it has been profitable since 2015 and has more than 30 million users, including 85% of Fortune 500 enterprises.
“Splashtop is an example of an efficient and agile enterprise technology company that has demonstrated incredible metrics, including fast growth, impressive customer satisfaction scores and attractive profit margins,” said Jai Das, president and partner of Sapphire Ventures. “We anticipate the adoption of Splashtop to continue to climb. Its secure remote access solution has been essential for businesses of all sizes during the pandemic, and we anticipate will be critical far beyond as where and how people work has been forever reimagined.”
Over the past year, Splashtop has served 85% of Fortune 500 companies—including Disney, FedEx, GE, Marriott and Toyota—plus government and educational institutions such as the U.S. Centers for Disease Control and Prevention (CDC), Harvard University, Stanford Healthcare, and research labs enabling COVID-19 vaccine research by major pharmaceutical companies.