Interoperability provider raises $8.7m
Interoperability software vendor Mio has raised $8.7m in Series A funding, with Cisco and Zoom among the investors.
Mio’s interoperability solution uses APIs to connect chat functions from leading providers such as Zoom, Webex by Cisco, Slack and Microsoft Teams – meaning users on different platforms can collaborate as if they’re using the same application.
The funding round sees Zoom and Cisco become shareholders in Mio and takes the firm’s total raised to $17m.
Tom Hadfield, CEO and co-founder of Mio, said: “Today’s announcement is a major milestone in the industry’s journey towards a fully open collaboration ecosystem.
“Cisco and Zoom investing in Mio is recognition that large enterprise customers are insisting on close integration between their collaboration tools.
“This commitment moves us one step closer to collaboration Nirvana – where end users can seamlessly communicate with anyone regardless of what platform they’re using”
Hadfield said that Mio will use the investment to continue developing its product, with new features like presence synchronization and integration with other collaboration platforms planned for 2022. The firm is based in Austin, Texas and has 20 employees.
The CEO added that, beyond the cash investment, both Cisco and Zoom have committed to building new APIs that will expand and improve interoperability across platforms.
Oded Gal, Chief Product Officer at Zoom, said: “Our partnership with Mio represents Zoom’s commitment to building an open collaboration ecosystem and supporting integrations that fundamentally improve how our customers collaborate.
Jeetu Patel, EVP & GM, Security and Collaboration at Cisco, added: ” Cisco has a decades-long commitment to delivering openness and interoperability for our customers, and we are delighted to support Mio’s efforts to advance cross-platform messaging across the Webex ecosystem.”
Hadfield said that the vast majority of enterprises are using more than one platform for collaboration, particularly for chat, making it increasingly unlikely that they will standardise and creating a desire for interoperability.
Mio’s first use case is to connect disparate departments within large enterprises, but an equally relevant use lets businesses interact with customers and partner organisations that are using a different platform.
Zoom is a relatively new addition to the Mio ecosystem, having been introduced in September.
Businesses can download Mio and start using it for free at www.m.io with premium tiers and bespoke enterprise tiers also available.
Find out more in UC Today’s interview with CEO Tom Hadfield (above) and by visiting the Mio website.