Vidyo announces $20 million financing to support growth plans

Video communication solutions vendor Vidyo today announced a $20 million financing to support its growth plans.

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 have participated in the current round of funding.

The total amount of capital raised by the company reached $139 million.

Vidyo will use the funds for sales and market development to broaden the adoption of its VidyoWorks platform.

Ofer Shapiro, Vidyo’s CEO and co-founder, said: “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 technology is currently deployed in individual networks with capacity exceeding hundreds of millions of minutes per year, in other networks exceeding 1,200 VidyoRoom systems, and in new form factors and applications such as hospital beds and gaming systems.

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