Vidyard Closes $15M Financing Facility

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Before Christmas, video platform Vidyard closed on a $15 million financing facility with the BMO Technology & Innovation Banking Group.  Vidyard has raised $75.7 million in debt and equity financing to date (see Crunchbase Pro chart on the bottom) and was recently ranked number 39 on Deloitte’s Canada Fast 50.  

The funds will “help Vidyard remain focused on innovation and product development while financing strategic M&A & Global Expansion activities so that the company can continue growing, scaling, and providing customers with the most robust user experience possible.”

Vidyard has partnered with a wide set of sales engagement platforms, including Outreach, SalesLoft, ConnectLeader, Groove, Xant, and VanillaSoft.  Other partners include Salesforce, HubSpot, Marketo, Eloqua, Drift, Outlook, and MailChimp.  Partners have cited a 2 to 3X improvement in open and click-through rates due to personalized videos embedded in emails.  Reps can quickly record a one-to-one video or embed a marketing video.

“Vidyard continues to make a global impact and is currently serving more than 50 million videos per day.  With the accelerating trend of the world’s most innovative businesses turning to video to power their marketing, sales, and internal communications strategies–tomorrow, that number is on a trajectory to exceed 1 billion,” said CEO Michael Litt.  “We’re excited to be working with BMO’s Technology & Innovation Banking Group to help finance strategies intended to support our journey in becoming the dominant video platform provider that the world’s most successful businesses rely on.”

Vidyard customers include Honeywell, LinkedIn, Citibank, and Sharp. A recent study of 218 B2B sales and marketing professionals found the top five uses of video within an organization are brand awareness (67%), lead generation (63%), customer education (63%), buyer education (58%), and sales enablement (54%).  Website distribution was the most common channel (79%), followed by email (67%), LinkedIn (63%), YouTube (60%), and landing pages (59%).  40% of respondents indicated that sales reps were deploying one-to-one videos.  Heinz Marketing and Vidyard conducted the survey.

Vidyard closed a debt financing round on December 20, 2019 (Source: Crunchbase)

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