$25 Million Secured for Videoconferencing Solutions by Vidyo
Vidyo, Inc. pioneered Personal Telepresence by enabling natural, multi-point videoconferences on desktop computers and room systems over the Internet and wireless networks. Vidyo announced that $25 million was raised at the Series C round of financing bringing the total amount of capital raised by the company to $63 million since its founding in 2005.
Four Rivers Group led the Series C round which also had all the existing investors, Menlo Ventures, Rho Ventures, Sevin Rosen Funds and Star Ventures participating. Vidyo will be able to expand its sales and marketing efforts to meet the global market demand for desktop and room-based HD multipoint video conferencing systems with the help of this funding.
Ofer Shapiro, co-founder and CEO, Vidyo believes that personal telepresence is a promising, fast growing market. The company’s continued expansion is evidence that companies recognize the availability of a game-changing video conferencing solution that provides telepresence-quality at a price point that supports massive deployment. He adds that Vidyo is fortunate to have been recognized by outstanding investors who understand the growth and transformation occurring today in the videoconferencing market across HD room systems, PC and Mac desktops, laptops, netbooks, and soon smart phones.
Wall Street Journal’s “Next Big Thing” recently named Vidyo in a list of venture-backed private companies for its ground-breaking technology that delivers low latency, multipoint videoconferencing over any IP network including the Internet or LTE, 3G or 4G networks. The company’s Board of Directors was ranked as 4th among the top 50 companies as per the WSJ List. Vidyo was awarded a patent in its VidyoRouter architecture in October 2009, which leverages on H.264 SVC, the latest standard in video compression technology.
Avery More, co-founder and Chairman, Vidyo believes that the video conferencing market will undergo exponential growth in the next five years with the emergence of new leaders as MCU-based room systems and expensive high-QoS network-based immersive telepresence rooms are usurped by video conferencing solutions providing natural interaction and scale affordably to accommodate mass deployment. He believes that Vidyo is leading the innovation charge in the video conferencing industry today and has emerged as a disruptive force as the market moves from video conferencing for a few, to solutions for everyone.
Calvin Azuri is a contributing editor for unified communications. To read more of Calvin’s articles, please visit his columnist page.
Edited by Kelly McGuire