Communication Platform, Rocket.Chat secures $19 million investment

A Brazil-based open source communication platform, Rocket.Chat just raised $19 million series A investment announced on the 3^rd of February, 2021. The round was led by Valor Capital Group with strong contributions several venture capitals including Greycroft, Monashees and New Enterprise Associates. Participating in the round is also e.ventures, Graphene Ventures, DGF and ONEVC. Rocket.Chat aims to take advantage of the global pandemic in promoting its virtual communication services, incorporating new features in an attempt to fuel its growth.

Purpose of the Investment

The startup has laid out several plans for their latest investment. These include:

• Exponentially increasing their customer base
• Incorporating new and exciting functionality to attract users
• Improving the platform’s security features
• More social media and Omnichannel customer service integration
• More apps for their marketplaces
• Multiple options for bots
• A method of utilizing their services over federated blockchain architecture and
• Providing facilities and resources for virtual events

Products & Services offered

Rocket.Chat is something of an all-in-one superstore that satisfies every communication needs of individuals as well as customer support and team collaboration. The organization’s platform allows users to host and manage their activities. The platform can also be used as cloud-based Software as a Service (SaaS) with the fee range between free and $4 a month for minimal services. The fee could be higher depending on certain factors like the level of activities performed, the usage rate and the type of service carried out. 

Rocket.Chat aims to improve the efficiency of business activities by ensuring a stress-free experience in communication among individuals and teams. Their solution is able to collate activities like video calls, messages, team communication and file-sharing in a single place to ensure optimized flow of operations. A big merit of the Rocket.Chat platform is their Omnichannel feature. This allows customers the freedom and flexibility of choosing their desired means of communication including Whatsapp, websites and social media.

Growth and Trends

Rocket.Chat boasts over 10 million users to date who utilize their platform to carry out certain key activities. Some of these activities include:

• Seamless adaptation for all organizations and unlimited integration
• A remote framework for team collaboration
• Secured data privacy
• The ultimate enterprise communication platform

The previous year has indeed played a big part in Rocket.Chat’s valuation and growth. The organization now has over 16 million registered customers in over 150 countries. About 11.3 million of these customers are new users having just been registered in the past 6 months. This alone shows the vast growth of the organization and the promising future ahead of them. According to the company, there are about 1,500 developers working on their platform which is installed on 845,000 servers. Suffice to say, the development of Rocket.Chat is one that all upcoming startups dream and plan towards achieving.

In the words of Dylan Pearce, a partner at Greycroft, “The world today requires a secure communication platform for businesses to interact both internally and externally, communicate with partners and users as well as connect with secure interest-based communities. Rocket.Chat’s world-class open source community and administrative team are industry leaders in innovation and the provision of a communication platform that can be used by everyone on the planet.”

Company Profile

Rocket.Chat is an open source platform seeking to revolutionize the communication industry. The startup is headquartered in Porto Alegre, Brazil and has been able to secure $26.9 million total funding in 3 rounds. Founded by Gabriel Engel on the 6^th of October 2016, the company has had 8 investors so far and is on the fast track to becoming a globally recognized communication platform.

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