NewVector

About NewVector

New Vector Limited, now operating as Element, is the primary commercial entity supporting the development of the Matrix open standard, an ambitious protocol for decentralized, secure, and interoperable real-time communication. The company was formally established in 2017 by the core team that originally created Matrix within Amdocs in 2014. This strategic move followed the conclusion of initial funding and was designed to provide a sustainable corporate structure to advance the ecosystem. The founders, Matthew Hodgson (CEO/CTO) and Amandine Le Pape (COO), leveraged their extensive backgrounds in telecommunications and IP messaging to pioneer a new communication paradigm. Their journey began with a vision to resolve the fragmentation in online communication, aiming to create a unified network akin to email but for instant messaging, VoIP, and more.

The company’s business model is multifaceted, centered on driving adoption and providing value-added services on top of the open-source Matrix protocol. Revenue is primarily generated through Element Matrix Services (formerly Modular.im), a platform offering managed hosting of Matrix servers for individuals and organizations. This service provides customers with their own secure and sovereign collaboration environments without the complexity of self-hosting. New Vector also offers consultancy and development services for large-scale enterprise and government deployments. Notable clients include the governments of France and Germany, who utilize Matrix for secure internal communications, underscoring the protocol's appeal in high-security environments.

New Vector's main product is Element (formerly known as Riot), a flagship client application for the Matrix network. Element serves as a showcase for the protocol's capabilities, offering end-to-end encryption by default, federation (allowing users on different servers to communicate seamlessly), and extensive integrations. The platform supports instant messaging, voice and video calls, file sharing, and bridges to other communication silos like Slack, IRC, and Telegram. This focus on interoperability is a core differentiator, enabling users to connect disparate communication tools into a single, unified experience. New Vector has successfully raised significant funding to fuel this mission, including a Series A round in 2019 and a strategic investment from Automattic (the parent company of WordPress.com) in 2020, bringing total funding to over $18 million at the time.