CounterPath Launches Hosted Stretto™ Collaboration Service to Address Underserved Small Medium Business (SMB) Market
Vancouver, BC, Canada — September 16, 2019 — CounterPath Corporation (NASDAQ: CPAH) (TSX: PATH) (the “Company” or “CounterPath”), a global provider of award-winning Unified Communications solutions for enterprises and solution providers, today announced that it has expanded its Stretto Collaboration solution with the launch of a hosted service for the CounterPath rapidly expanding global network of channel partners. The hosted service now includes virtual meeting room and video conferencing services and is now available to channel partners throughout North America, Europe and other key markets. While the CounterPath Stretto Collaboration solution initially targeted large Enterprises with a premises-based offering, the new, hosted Software as a Solution (SaaS) offering provides improved scalability to address the vastly underserved SMB market.
While nearly three-quarters, or 72.5%, of businesses with 100 – 999 employees use VoIP according to IDC, only 36% utilize UCC. Key reasons for this discrepancy include high operating costs and lack of integration with existing systems. CounterPath has addressed these gaps with a cost-effective and scalable hosted offering that also includes APIs to allow customers to quickly integrate CounterPath services with SMB business systems.
According to a report by Component, the global enterprise collaboration market is expected to grow from USD 34.57 Billion in 2018 to USD 59.86 Billion by 2023, at a CAGR of 11.6% from 2018 to 2023. The report continues to say that the SME (SMB) market is mostly adopting cloud-based solutions to avoid hardware, software, and deployment costs.
“We see a significant opportunity in the SMB market for UCC,” said Todd Carothers, EVP of Sales, Marketing, and Product at CounterPath. “We have sold UCC via our direct sales team but wanted to ratchet up our offering for the channel. We took the time to listen to our channel partners and their customers to develop a scalable solution that offers a compelling UCC feature set, completely managed in the cloud. The early success of our channel partners has proven we have the right solution that meets these challenging requirements. We have selected partner .e4 Strategies for our initial North American rollout because of their technical depth and customer reach.”
“CounterPath has been our softphone unified communications partner for over five years,” said Michael White, Principal at .e4 Strategies. “They have extended their solution to include not only centralized provisioning and user management, but also secure messaging, presence and now collaboration. They are a perfect fit for our open source-based PBX customers looking to add unified communications and collaboration to their offering seamlessly.”
The Stretto Collaboration solution is available via CounterPath direct sales or through channel partners. To learn more, please visit mrkt-stg.counterpath.com/stretto-platform.
About .e4 Strategies
Founded in 2005, .e4 Strategies, is North America’s leading distributor of standards based VoIP technology with solutions for resellers and service providers. In addition to a comprehensive product catalogue, .e4 offers expert technical support, extended warranties, device configuration, and logistical services. Visit 8774e4voip.com.
CounterPath Unified Communications solutions are changing the face of telecommunications. An industry and user favorite, Bria® softphones for desktop, tablet and mobile devices, together with Stretto Platform™ server solutions, enable service providers, OEMs and enterprises large and small around the globe to offer a seamless and unified communications experience across any networks. The Bria and Stretto combination enables an improved user experience as an overlay to the most popular UC and IMS telephony and applications servers on the market today. Standards-based, cost-effective and reliable, CounterPath’s award-winning solutions deliver high-quality voice and video calling, messaging, and presence offerings to our customers such as AT&T, Avaya, Bell Canada, BT, Liberty Global, Ribbon Communications, Uber, and Vonex. Visit counterpath.com and follow @counterpath.
Director of Product Marketing, CounterPath
This news release contains “forward-looking statements”. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future, including the statements that (1) we see a significant opportunity in the SMB market for UCC. We have selected partner .e4 Strategies for our initial North American rollout because of their technical depth and customer reach. It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (1) the variability in the Company’s sales from reporting period to reporting period due to extended sales cycles as a result of selling the Company’s products through channel partners or the length of time of deployment of the Company’s products by its customers; (2) the Company’s ability to manage its operating expenses, which may adversely affect its financial condition and ability to continue to operate as a going concern; (3) the Company’s ability to remain competitive as other better financed competitors develop and release competitive products; (4) a decline in the Company’s stock price or insufficient investor interest in the Company’s securities which may impact the Company’s ability to raise additional financing as required or may cause the Company to be delisted from a stock exchange on which its common stock trades; (5) the impact of intellectual property litigation that could materially and adversely affect the Company’s business; (6) the success by the Company of the sales of its current and new products; (7) the impact of technology changes on the Company’s products and industry; (8) the failure to develop new and innovative products using the Company’s technologies including the refresh of our Software-as-a Service (SaaS) solution; and (9) the potential dilution to shareholders or overhang on the Company’s share price of its outstanding stock options. Readers should also refer to the risk disclosures outlined in the Company’s quarterly reports on Form 10-Q, the Company’s annual reports on Form 10-K, and the Company’s other disclosure documents filed from time-to-time with the Securities and Exchange Commission at www.sec.gov and the Company’s interim and annual filings and other disclosure documents filed from time-to-time on SEDAR at www.sedar.com.