Vidyo Raises $17.1 Million of Funding
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Hackensack, New Jersey – Vidyo, a pioneer in Personal Telepresence enabling multi-party video conferences using a personal computer, with HD quality over converged IP networks has raised $17.1 million of funding led by Triangle Peak Partners and backed by undisclosed VC firms.
“We are experiencing a hockey stick effect in the adoption of the personal video conferencing market that continues to drive significant growth for Vidyo,” said Ofer Shapiro, Vidyo’s CEO and Co-Founder. “Our customers are expanding their deployments with us at an amazing rate of 18% per quarter on an average dollar basis. We will use these funds to support this growth and accelerate new customer wins.”
The new capital will be used to fuel the sales effort and also for global expansion. The company also plans to improve its unique software platform. Vidyo currently has 26 patents issued and 56 patents pending, for its award winning architecture.
Funding Total: $17,000,000
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|Investors: Triangle Peak Partners|