Vidyo Earns $17.1 Million Financing
Vidyo’s latest round of financing has been a smashing success, garnering a new influx of $17.1 million in capital. This financing was provided by its many investors, both new and inside, and will be put to use helping expand the company’s global market share and further accelerate its sales.
While the latest round of funding has been very helpful to Vidyo, the confidence of its investors is well-placed. Vidyo saw a 68 percent growth in its year over year billings in 2012, as well as large growth in several important markets, such as healthcare, education, and enterprise business. Its videoconferencing services have proven invaluable to businesses and organizations of all shapes and sizes, helping drive great growth.
The company has also seen recognition from multiple sources, such as the Wall Street Journal, which has placed Vidyo on its “Next Big Thing” list for three years running, and the World Economic Forum, which named it a Tech Pioneer for 2013. The MIT Technology Review also listed it among the “50 Most Disruptive Companies,” indicating its potential and successes.
Currently, the net capital raised by Vidyo since its founding has reached $116 million. As it’s been around since 2005, that’s a very impressive feat. With this new $17 million, it can accelerate its sales even more and help broaden the adoption of the VidyoWorks platform.
“We are experiencing a hockey stick effect in the adoption of the personal video conferencing market that continues to drive significant growth for Vidyo,” says Ofer Shapiro, CEO and co-founder of Vidyo. “Our customers are expanding their deployments with us at an amazing rate of 18% per quarter on an average dollar basis. We will use these funds to support this growth and accelerate new customer wins.”
Given its record of success, and the excellent video solutions and services it offers, Vidyo’s investors know their money is being put to good use. Its acclaim and renown are earned, so it’s a safe and wise investment with the record to prove it. We can expect to see great things from Vidyo soon.
Edited by Rich Steeves