Vidyard Raises $18M For Product Development, Sales Expansion
- Published in Industry News
Vidyard has raised $18 million in Series B funding, which the company plans to use to further develop its video marketing and sales enablement offerings and expand its sales organization, along with other investments.
“Among other things, we want to build on the success we’ve had with Vidyard Studio, our platform for creating, sharing and tracking engagement in custom videos,” said Michael Litt, Co-Founder and CEO of Vidyard, in an interview with Demand Gen Report. “There are a lot of great applications for Vidyard Studio, such as being able to upload a PowerPoint presentation and turn it into a video, and we want to keep expanding the product.”
Lidd added: “This latest round of funding combined with the momentum we’ve seen in the past year — including more than tripling our revenue and employee base — further validates that video marketing has become a critical function within both B2C and B2B organizations.”
In the past year, the company has added hundreds of clients, including Act-On, Cetera Financial Group, Honeywell, Intralinks, Square and Taulia.
In addition to Vidyard Studio, the company launched Vidyard Video Hubs, a tool for marketers create custom-branded video channels on corporate web sites.
Vidyard also expanded its integrations with marketing clouds and CRM solutions including Salesforce, Eloqua, Marketo, Adobe Marketing Cloud and Act-On.
The Series B funding was led by Bessemer Venture Partners with participation from existing investors iNovia Capital, OMERS Ventures, Salesforce Ventures and SoftTech VC. In addition, Byron Deeter, Partner at Bessemer Venture Partners, will join Vidyard’s Board of Directors.