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Vidyo Clenches $20 Million with Dreams of Making Video Conferencing Ubiquitous

July 11, 2014

Vidyo has announced a $20 million cash infusion, which the company plans to use to expand the purview of its VidyoWorks platform. In fact, the company is hoping for near-ubiquity as the Internet of Things (IoT) becomes reality.

IoT, i.e. the millions of new devices, appliances, services, platforms and workflow/business processes connect businesses and individuals online at work, at home, in their car or through wearables, is a cresting wave that will see a hyper-connected reality by around 2020, according to analysts. The Vidyo platform and APIs allow developers and solution providers across a variety of markets and applications to integrate video conferencing and communications into existing workflows like electronic medical records (EMR) or into various devices or appliances—so the company sees a big opportunity going forward.

“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.”

Vidyo is already powering integrated visual communication in large-scale online banking, healthcare, government and enterprise applications, deployed in individual networks with capacity exceeding hundreds of millions of minutes per year. It said that it sees new opportunities coming from new form factors and applications such as hospital beds and gaming systems—threatening, it said, to put video conferencing on a trajectory with that of audio conferencing.

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. 

Edited by Maurice Nagle

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