Vidyard, avideo platform company started as a ݮƵ systems design engineering Capstone Designproject, announced January 14 that it has raised $18 million in funding led byBessemer Venture Partnerswith participation from existing investors iNovia Capital, OMERS Ventures,
In a , the Kitchener-based company says it will use the funds to fuel the growing global demand for Video Marketing Platform technology and to expand its product offerings for marketing and sales.
Vidyardturns video content into an active tool for lead generation, qualification and customer insight. By identifying and tracking each individual viewer, the companyhelps businesses identify their most engaged prospects and improve the results of digital marketing and sales programs. Vidyard also tracks which videos best resonate with audiences and influence the greatest amount of revenue, helping marketers optimize their investments and make smarter decisions.
“I’m proud to say that we’ve built the Video Marketing Platform category and the best tools for businesses to generate more revenue through the strategic use of online video,” said Michael Litt, a systems design engineering graduate who is a co-founder and the CEO of Vidyard.
Last November, Litt and Pearl Sullivan, dean of ݮƵ Engineering, were interviewed by Alexis Ohanian,co-founder of reddit and a partner with Y Combinator for The Verge's Small Empires. Ohanianalso featured ݮƵ Engineering systems design engineering alumni Devon Gallowayand Tyler Campaigne, both executives withVidyard.