Vidyo Raises $25MVidyo Raises $25M
Menlo Ventures, Rho Ventures, Sevin Rosen Funds, and Star Ventures participated in the round, which was led by Four Rivers Group
April 1, 2010
HACKENSACK, N.J. -- 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.
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