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Vidyo Secures $25 Million for Videoconferencing Solutions
HACKENSACK, N.J.--(BUSINESS WIRE)--Vidyo, Inc., the first company to deliver personal telepresence, today announced a $25 million Series C round of financing, bringing the total amount of capital raised by the company to $63 million since its founding in 2005. All existing investors, Menlo Ventures, Rho Ventures, Sevin Rosen Funds and Star Ventures, participated in the round, which was led by Four Rivers Group. The funding enables Vidyo to expand its sales and marketing efforts to meet the global market demand for desktop and room-based HD multipoint video conferencing systems.
"Personal telepresence is a nascent, quickly growing market and our 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," said Ofer Shapiro, CEO and co-founder of Vidyo. "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, and to have been rewarded for our performance."
Vidyo was recently named to the Wall Street Journal's "Next Big Thing" List of top 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 WSJ List ranks the company's Board of Directors as 4th among the top 50 companies. In October 2009, Vidyo was awarded a patent on its VidyoRouter™ architecture, which leverages H.264 SVC, the latest standard in video compression technology.
"The video conferencing market will undergo exponential growth in the next five years, and new leaders will emerge as MCU-based room systems and expensive high-QoS network-based immersive telepresence rooms are usurped by video conferencing solutions that provide natural interaction and scale affordably to accommodate mass deployment," said Avery More, Vidyo co-founder and Chairman. "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, wherever they are and whenever they need to meet."
About Vidyo, Inc.
Vidyo, Inc. pioneered Personal Telepresence enabling natural, multi-point videoconferences on desktop computers and room systems over the Internet and wireless networks Vidyo's patented VidyoRouter architecture delivers the only available H.264 Scalable Video Coding (SVC) solution that eliminates an MCU while delivering the industry's best error resilience (click here to see a video) and lowest latency videoconferencing solution. Learn more at www.vidyo.com. Follow Vidyo on Twitter@VidyoConf.
Mari Mineta Clapp, 408-398-6433
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