The Brazil-based open-source enterprise messaging service Rocket. Chat recently raised an impressive $19M in Series A funding. With 8M MAUs and 16M users across 150 countries, it’s no wonder this startup has enjoyed so much success.
In this overview, we’ll discuss more information about Rocket: Chat and the benefits of their enterprise messaging service.
Introduction of Rocket.Chat
Rocket. Chat is an open-source, Brazil-based enterprise messaging service founded in 2015 by Thiago Reis, Rafael Reverso, and Gabriel Engel. The company claims to have 8 million monthly active users (MAU) and 16 million total users across 150 countries. Rocket. Chat offers many products, such as team messaging, voice, and video conferencing, help desk software, private cloud hosting options, and server customization tools.
The goal of Rocket. Chat replaces traditional office communications systems with an open-source alternative that can be deployed in the cloud or on the customer’s server infrastructure. All user data is securely stored with end-to-end encryption on RocketChat servers or those owned by its customers if hosted on private clouds or self-hosted servers, respectively, by data privacy legislation applicable to any region where the customer operates their business operations from.
Rocket Chat recently raised $19M Series A from investors Atomico. These funds will be channeled towards product innovation initiatives such as advanced auto-translation capabilities powered by Microsoft Translator AI technology as well as market expansion efforts into Asia, where there is a large potential for growth for enterprise messaging services like Rocket Chat due to its offering that is much more affordable than other existing competitors in the region (e..g Slack).
Features and services of Rocket.Chat
Rocket. Chat is an open-source enterprise messaging service built on top of MongoDB and designed to help companies of all sizes create chatbot applications. It claims 8 million monthly active users (MAUs) and 16 million users across 150 countries.
The platform provides various services, such as secure file sharing, message archiving, custom user integrations and APIs, multimedia support, and administrative control over users/chatrooms/content created in its channels/servers. The product also includes searchable voice transcription for live audio recordings; A/V streaming for both one-to-many and many-to-many video conferencing solutions; translation capabilities for multilingual conversations with integrations with Google Translate; analytics features that track usage trends across time; customer success tools like customer support tickets; webhooks for external integration with other services or web applications; automated onboarding guides for custom setup workflows; access to Bot Framework SDKs (software development kits) for creating custom bots; power user analytics tools that help teams assess the effectiveness of their engagement strategy; and more.
With this recent $19 million Series A funding round, Rocket. Chat is now well-funded to continue developing its platform as it competes against rivals such as Slack, Microsoft Teams, and Google Hangouts Chat.
Brazil-based Rocket.Chat, an open source enterprise messaging service that claims to have 8M MAUs and 16M users total across 150 countries, raises $19M Series A (Ingrid Lunden/TechCrunch)
Brazil-based Rocket. Chat, an open-source enterprise messaging service boasting 8 million Monthly Active Users (MAUs) and 16 million total users in 150 countries, recently closed a $19 million Series A funding round. This round of funding is the latest development for Rocket. Chat marks a significant milestone for the organization.
Let’s look at what drove this funding and what the company plans to do with its newfound capital.
Amount of capital raised
Rocket. Chat, the Brazil-based open-source enterprise messaging service, recently announced a $19 million Series A capital raise. Founded in 2014 and headquartered in Rio de Janeiro, Rocket. Chat solves the problem of safeguarding secure communications for enterprises with its platform for private collaboration and decentralized governance.
The investors who participated in this round include Summit Partners and Hausinvest and current investors Instituto Paranaense de Desenvolvimento Econômico e Social (IPDES) and Oren brothers (venture capital).
With this funding round, Rocket. Chat has now raised $26 million in total to date. This new funding will help build its development team with the addition of new hires and enable it to enhance product development, particularly for its platform’s ability to offer end-to-end encryption capabilities that meet international security standards. The company also plans to expand use cases beyond software development teams, such as customer support teams who want to reduce cost while increasing privacy protection across all platforms, from mobile devices to laptops, desktops, tablets, etc.
The injection of capital will bring Rocket Chat closer to achieving its goal of becoming a powerful one-stop shop for private team collaboration that meets massive scalability needs around the world: currently, 8 million monthly active users (MAUs) across 150 countries globally with a total user base exceeding 16 million customers to date. In 2021 they aimed for 10 million MAUs and an additional 16M community users on their self-hosted network of over 5M organizations worldwide.
Investors involved
The Series A round was led by TCV, with participation from Growth Partners and Accel. The seed round investors NASA, Sony Innovation Fund, and 500 Startups also returned for Series A. Representing TCV on the board will be John de Souza, a member of the executive team at venture fund platform iG Solutions and former VP of SaaS at Oracle.
The capital will be used to grow Rocket. Chat’s open-source community expands partnerships to enable embedding Rocket. Chat in other applications and services — it’s already available as an official integration on HubSpot — and fuel product development for the Enterprise edition of its platform. With this fresh injection of capital, it also plans to push more aggressively into new markets, such as Europe, Latin America, and Asia Pacific. Its target customer is any organization that needs advanced communication infrastructure, but with the consumer friendliness that employees expect today.
Use of Funds
Brazil-based Rocket. Chat, an open-source enterprise messaging service, recently announced the closing of a $19M Series A round of funding. Atomico led the round with participation from Web Summit, Open Market Ventures, and others.
The company plans to use the new investment to expand its presence in the enterprise market further and grow its user base of 8 million monthly active users and 16 million users across 150 countries. It will also focus on developing innovative features like voice calls – which they launched earlier this year – and integrations with other essential business apps such as CRM and sales automation tools.
In addition, Rocket. Chat plans to use the funds to expand its research & development efforts into artificial intelligence (AI) capabilities, further improving collaboration within its platform for teams worldwide.
Market Position
Brazil-based Rocket. Chat recently raised $19M in their Series A round, demonstrating the success and strong market position the company has achieved. This round of funding indicates a promising future for the open-source enterprise messaging service, which now boasts 8M MAUs and 16M users across 150 countries.
Let’s take a look at the market position of Brazil-based Rocket. Chat.
Number of users
Rocket. Chat, a Brazil-based startup providing an open-source enterprise messaging service, reported 8 million monthly active users (MAUs) and 16 million total users across 150 countries. This growth demonstrates how its rapidly growing user base successfully adopted the platform globally. The global expansion of its user base made the startup appealing to investors, as it recently raised $19 million in Series A funding led by Redpoint Ventures with participation from Monashees and OMERS Ventures.
This growth has positioned the South American-founded startup to compete with established industry players such as Slack, Microsoft Teams, and Facebook Workplace while setting itself up firmly in the enterprise collaboration marketplace. With a focus on integrated communication solutions in 2020, industry specialists predict that Rocket. Chat’s user base will continue to grow rapidly over the coming years as businesses shift away from traditional methods of communication into faster and more streamlined digital solutions.
Global reach
Brazil-based Rocket. Chat is an enterprise messaging platform with a significant global reach. The company claims to have 8 million monthly active users (MAUs) and 16 million users across 150 countries, helping it achieve international success and expand its market position.
This worldwide user base has allowed the company to recently secure a series A funding round of $19 million, featuring investments from the Jardim family — one of Brazil’s most connected venture capital families — and Telefónica Ventures, which is the investment arm of Spanish telecoms giant Telefónica Group.
The company is rapidly increasing its market share in traditional IT markets like North America and Europe and newer emerging markets like Latin America. Its technology also provides crucial advantages for redefining digital workspace solutions for remote teams, including high scalability of open source technologies, accessibility from various platforms, strong encryption protocols, and comprehensive permission management systems for added security, by targeting these strategic areas with relevant products, Rocket. As a result, chat has steadily grown its user base over time while maintaining its core mission for open-source collaboration.
Competitive landscape
The competitive landscape in the enterprise messaging service space is highly crowded, with many established and emerging companies taking up significant portions of the market. In Brazil, Rocket.Chat has been a major player in recent years, providing an open-source platform that enables enterprises to build their messaging solutions easily. Rocket. Chat offers a comprehensive suite of services designed to meet the needs of modern businesses, including reliable hosting, secure end-to-end encryption, mobile applications for both iOS and Android devices, scalability, and extensibility features that enable users to extend their systems with additional workflow integrations.
Rocket. Chat competes directly with players such as Slack and Microsoft Teams for market share within Brazil. In addition to this direct competition, there are a number of newer entrants into the messaging space such as Openetrin and Zulip who are both offering other potential solutions for businesses looking for alternatives to Slack or Teams. These each offer features specific to their services that may make them attractive options depending on the needs of your business.
Beyond these major players in Brazil there is also a wide range of internationally-based services available such as: Skype (owned by Microsoft), Wire (owned by Cierex), Briar (based in Germany), Hipchat (owned by Atlassian), and Stride (also owned by Atlassian). As with Rocket.Chat each has advantages, so companies should thoroughly investigate before choosing one solution over another.
Future Outlook
Rocket. Chat’s recent funding round of 19 million dollars is a major endorsement of Brazil’s technology industry. The backing of international investors indicates the potential of the Brazilian startup industry to produce innovative tech companies capable of sustaining a global presence.
In this article, we will look at what this new funding could mean for the future of Brazil-based tech startups.
Expansion plans
Brazil-based Rocket.Chat, an open source enterprise messaging service, has announced that it recently secured a $19M Series A funding round led by Redpoint eVentures and had participation from Accel and previous investors Bright Pixel, Raine Ventures and Others. This new investment will enable the company to expand its portfolio and further its mission to provide an open source, an enterprise-grade messaging platform for teams worldwide.
Rocket. Chat plans on utilizing this new funding to continue development on its suite of features, increase its presence around the world, open a physical base office in Brazil, and extend their marketing efforts over different media channels. In addition to these plans, Rocket.Chat is also looking into developing integrations with third-party services as well as being able to participate in industry events to better connect with customers, partners and investors alike. Through these strategies, Rocket.Chat looks to reinforce its position as one of the top enterprise messaging platforms on the market while increasing productivity within the workplace.
Potential revenue sources
Brazil-based Rocket.Chat is an open source enterprise messaging service that allows organizations to build their own communication platforms quickly and affordably. The company has grown rapidly since its launch in 2016 and now has 8 million Monthly Active Users (MAUs) and 16 million users across 150 countries. Rocket. Chat recently announced a successful Series A funding round, raising $19 million from investors including Redpoint Eventures, Verizon Ventures, Riot Games, Sony Innovation Fund and Microsoft’s M12 venture fund.
Rocket. Chat’s customer base is diverse: from small groups of developers to large enterprises with complex communication needs, the company offers an attractive pricing model designed to meet their customers’ budgets. Recently, their leadership team has begun exploring potential revenue sources that could capitalize on their extensive user base and the success of open source models.
Currently one of Rocket. Chat’s primary revenue models include charging when services go beyond the limits provided by its freemium version. These services include advanced features such as two-factor authentication, detailed analytics packages, enterprise support teams, and more scalable infrastructure requirements for large groups of users or high volumes of traffic flow – making it easier for companies who are looking for a full-service communications solution to make use of this platform without any further investments other than technical maintenance costs or warranties (if opting for paid version).
However they are also looking into ways they can engage with users within the service itself such as providing pro features that offer unique value like custom bot development modules or integrations with third party services that could be used by end consumers as well as businesses in various industries looking for more specialized communication solutions that could fit specific settings or use cases beyond normal office environment applications where chat platforms generally exist as tools for collaboration within original designed purpose settings only – ultimately aiming create new relationship levels between providers & consumers where parts reciprococially have something to gain from each other through active usage interactions providing relatively secure income generations sources regardless of human market instability factors involved around the globe today.
Future partnerships
To capitalize on the success of their recent Series A funding round, Brazil-based Rocket. Chat is exploring potential partnerships with enterprise companies from a variety of industries. The messaging service was well-received by global investors due to its growth rate in countries such as Germany, Canada, Spain, and Russia, fueling additional enthusiasm for Rocket. Chat’s product suite and potential for attractive ROI (return on investment).
The company has made strides to bring together old and new product offerings, including launching a mobile application and conquering different markets with localized products. These efforts have allowed Rocket. Chat to leverage existing customer relationships to expand into other markets while growing its revenue through service agreements tailored specifically for each call.
Now that Rocket. Chat has the capital from its Series A round at its disposal; these ambitions will be supported through strategic partnerships with established enterprise businesses looking for advanced messaging solutions. Through such collaborations, Rocket. Chat aims to excel over the competition by offering customers robust features designed to help them take their in-app communications across different desktop or mobile platforms effortlessly and securely. Additionally, these partnerships are expected to accelerate growth opportunities for Rocket. Chat across multiple business segments by facilitating cross-regional support from experienced developers and experts in new technologies such as artificial intelligence (AI) and machine learning (ML).
