Video marketing solutions company Vidyard announced today that it has taken in $18 million in series B funding. The round was led by Bessemer Venture Partners. Previous investors iNovia Capital, OMERS Ventures, Salesforce Ventures, and SoftTec VC also took part.
As for how it will use the money, the company will expand its sales teams to attract more customers, and will hire engineers to improve the quality of its analytics. While Vidyard has been focused on North America, it now intends to expand into other markets. As part of the funding round, Byron Deeter, a partner at Bessemer Venture Partners, will join the board of directors at Vidyard.
Vidyard helps companies with online video marketing by tracking individual viewers in order to identify the strongest sales prospects. It provides help with lead generation, qualification, and customer insight. Vidyard’s tools can also identify which sales and marketing videos best engage audiences and deliver the strongest return on investment.
This news follows a strong year for Vidyard, the company says. It launched Vidyard Video Hubs, which lets marketers create customized and branded video channels, and Vidyard Studio, which lets marketers and sales people create, share, and track videos. Its list of new customers includes Act-On, Cetera Financial Group, Deltek, Dynatrace, Fiberlink (an IBM company), Honeywell, Intralinks, Square, and Taulia.
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