Vidyard Takes $35M in Series C, Focuses on Digital Body Language
Vidyard, a Video marketing solutions company based in Kitchener, Ontario, announced today that it has taken in $35 million in series C funding. Battery Ventures led the round, with participation from existing investors Bessemer Venture Partners, Salesforce Ventures, OMERS Ventures, iNovia Capital, and SoftTech VC. As part of the round, Michael Brown, a general partner at Battery Ventures, is joining the Yidyard board of directors.
The company plans to use the money to create services that recognize viewers' digital body language, and other products that drive customer engagement. Digital body language is a new marketing area that uses second-by-second viewing data to get a clearer image of potential buyers and their intents. Vidyard is already seeing strong results from this area, says Michael Litt, the company's CEO.
2015 was a strong year for the company, Vidyard notes: It tripled revenue and doubled its number of employees (both for the second year in a row). It also saw participation in its Space Camp video marketing summit triple. Vidyard now counts 24 of the top 100 global software companies as clients.
Vidyard raised $18 million in January 2015, in a series B round led by Bessemer Venture Partners. In October, it announced the acquisition of Switch Merge to boost its video personalization efforts.
Business video platform Vidyard introduces no- and low-cost Free and Pro plans, designed to ease businesses into online video without a large financial commitment.
Adobe and Vidyard announced a partnership that will bring video support to Marketo Engage, Adobe's lead management tool for B2B marketers.
The company will use funds to expand its marketing and sales product offerings. Bessemer Venture Partners led the round.