The funding came from Resurgens Technology PartnersRead more...
Massive round comes from Four Rivers, Menlo Ventures, Rho Ventures, Seven-Rosen and Star VenturesVidyo, a provider of a video conferencing platform, announced it has raised $25 million in series C financing. Four Rivers Group led the round. Other investors include Menlo Ventures, Rho Ventures, Seven-Rosen Funds and Star Ventures. The company has now raised $63 million to date.
The startup said it differs itself from other video conferencing platforms because it provides dynamic bandwidth control for each individual conference participant, which enables HD conferencing between different devices on the public Internet.
Although video conferencing has become a free standard these days, with providers like iChat and Skype, Vidyo markets itself mainly towards enterprises. The company has licensed its technology to companies including Hitachi, ShorTel and Teleris.
Avery More, Co-founder of Vidyo said, "The video conferencing market will undergo exponential growth in the next five years, and new leaders will emerge as low-quality, MCU-based, and expensive high-QoS network-based immersive telepresence rooms are usurped by high-quality, easy-to-use, affordable video conferencing solutions...we are confident that Vidyo’s technology will be used in other emerging markets as well."
Other emerging markets Vidyo could potentially tap into include the likes of smartphones which might have front facing cameras, as rumored on the next-gen iPhone, or tablet computers.
Vidyo said it will use the funds to expand its sales and marketing efforts to meet the global market demand for desktop and room-based HD multipoint video conferencing systems.
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