VXT raised $2.5 million at a $45 million valuation

Silicon Valley backers put $2.5 million into VXT at a $45 million valuation. The rebuilt product transcribes calls, files notes and records billable time into a firm's practice management system, and firms across New Zealand, Australia, the United States, Canada and the United Kingdom use it.

We backed VXT because it integrates directly with the practice management and applicant tracking tools these firms already run, which removes manual work and recovers billable time that would otherwise leak away. Saunders & Co in Christchurch was the anchor customer for the rebuilt product, and the customer base abroad grew from there.

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