Vidyo Raises 17.1 million in a round of financing
Vidyo, Inc. has announced a $17.1 million round of financing, bringing the total amount of net capital raised by the company to $116 million since its founding in 2005.
The financing was facilitated by strong support from inside investors and the addition of several new investors. Vidyo will use this funding and increased access to capital to accelerate its sales, expand global market share and broaden the adoption of its software based, VidyoWorks platform.
“Vidyo has proven itself as an innovator in the video conferencing market and has sparked the mass adoption of its technology, which is changing the landscape of visual communications,” said Dain DeGroff, co-founding Managing Director, Triangle Peak Partners, the lead new investor.
In 2012, Vidyo saw 68% year over year billings growth and unlocked several high-profile market segments including 77% year-over-year growth in healthcare and education and 67% growth in the large enterprise business. Vidyo currently has 26 patents issued and 56 patents pending.
“We are experiencing a hockey stick effect in the adoption of the personal video conferencing market that continues to drive significant growth for Vidyo,” said Ofer Shapiro, Vidyo’s CEO and Co-Founder.
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.
Vidyo, Inc. pioneered Personal Telepresence enabling natural, HD multi-point videoconferences on tablets and smart phones, PCs and Macs, room systems, that interoperate with legacy H.323 and SIP endpoints, telepresence solutions and affordable cloud-based video conferencing as a service solution.