Vidyo raises $20m to reach new markets
Vidyo has announced a new $20 million round of financing to help expand the adoption of its products beyond the corporate world. Vidyo wants to deliver its products to millions of new smartphones, tablets and laptops in sectors such as healthcare and government.
The current round includes participation from all existing investors, including: Menlo Ventures, Rho Ventures, Sevin Rosen Funds, QuestMark Partners, Saints Capital, Four Rivers Group, ORR Ventures, Triangle Peak Partners and Juniper Networks through its Junos Innovation Fund, and brings the total amount of capital raised by the company to $139 million.
Vidyo will use the funds raised for sales and market development to broaden the adoption of its VidyoWorks platform.
"Every day there are announcements of new connected solutions or applications in healthcare, banking, government or enterprise solutions visually connecting people at work," said Ofer Shapiro, Vidyo’s CEO and co-founder.
"Vidyo makes it possible to integrate visual communication into these applications, and many others, using commodity devices available today and will support new solutions as they emerge. While the focus of the ‘Internet of Things’ up until now has been on machine-to-machine applications, we are seeing strong demand to visually connect people into workflows for person-to-person applications in the workplace, on the road or at home, all federated with the Internet of Things."