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Vidyo Secures $15 Million to Expand Leadership in Personal Telepresence MarketMenlo Ventures Managing Director, Doug Carlisle, Added to Vidyo Board; Ezra Sofer Joins From Finjan as Chief Financial Officer (March 05, 2009)
HACKENSACK, NJ -- (Marketwire) -- 03/05/09 -- Vidyo®, Inc., the global leader in personal telepresence, today announced a $15 million third round of financing, bringing the total amount of capital raised by the company to $38 million since its inception in 2005. Personal telepresence enables anyone, anywhere and at any time to communicate in multi-party conferences with natural HD video quality over the Internet and general-purpose IP networks. The additional funding enables Vidyo to expand its sales, marketing and product development efforts as well as better support its growing customer base and partners.
In addition to this news, Vidyo has also issued two other announcements today: Vidyo Licenses H.264/SVC Technology to Telepresence Leader Teliris and Vidyo Chosen By Global Leader in Risk Management Solutions.
Menlo Ventures led the latest round, and was joined by all existing investors: Rho Ventures, Sevin Rosen Funds and Star Ventures. With this new round, Menlo Ventures' Managing Director, Doug Carlisle, joins the Vidyo Board.
"We are excited that Menlo Ventures is leading our third financing round. Last year they made a small initial investment that provided them the ability to evaluate Vidyo's potential and performance and they liked what they saw," said Ofer Shapiro, Chief Executive Officer of Vidyo. "The fact that we are able to raise a substantial amount of funding from such top tier investors during this global economic downturn, speaks volumes about the strength of our technology and products in the video conferencing market," Shapiro added.
Since it emerged from stealth mode in Fall 2007, Vidyo has achieved global recognition, industry accolades and awards including a DemoGod award, Best of Interop, and Frost & Sullivan's 2009 Conferencing and Collaboration Product of the Year for its ground-breaking technology and products that deliver a new generation of video conferencing -- branded personal telepresence.
"We see Vidyo's potential to disrupt the video conferencing market," said Doug Carlisle, new Vidyo Board member and Managing Director of Menlo Ventures. "In monitoring the company's development over the past six months, we have observed their formation of important partnerships and rapid market acceptance. We are convinced that Vidyo will see significant growth in 2009."
Ezra Sofer Joins Vidyo in New Role as Chief Financial Officer
With more than 20 years of experience in finance management and operations positions, Ezra Sofer joins Vidyo as the company's first Chief Financial Officer. Sofer formerly served as CFO for Finjan Inc., where he was responsible for the finance, system administration, customer support and operations for the company's worldwide operations. Previously, he was Group VP Finance, at Amdocs, held a variety of positions at SunGard Data Systems, including Senior VP and CFO. Sofer also held financial positions at Comverse Technology and PriceWaterhouseCoopers. He holds an MBA in Finance.
"Ezra brings to Vidyo a broad base of experience and an in-depth knowledge of corporate finance," said Ofer Shapiro, Vidyo CEO. "With his proven leadership across the financial and operations spectrum, we're confident that Ezra will be an asset to all areas of Vidyo's business. I am happy to welcome him to our team."
"I am extremely pleased to be joining Vidyo," said Ezra Sofer. "At first, I was somewhat skeptical about CEO Ofer's claims about the growth potential of the company. Once I had a chance to view the dramatic acceptance of Vidyo's technology in the marketplace, I was sold and couldn't wait to join the company."
About Vidyo, Inc.
Vidyo, Inc., headquartered in Hackensack, NJ, is the global leader in personal telepresence. Founded in 2005, Vidyo developed the first unique video conferencing architecture in decades. Vidyo enables people to communicate effectively by using HD quality video from anywhere. VidyoConferencing is easy and affordable to use, and deploys over any IP network. Leveraging Vidyo's unique intellectual property built upon the new H.264 Scalable Video Coding (SVC) standard, Vidyo delivers the industry's best resilience and lowest latency video conferencing over converged IP networks. Vidyo's technology for OEMs and end-to-end product solutions for organizations are able to support point-to-point and multi-point connections that include a variety of different platforms ranging from Mac & Windows desktops to dedicated room solutions. Learn more at www.vidyo.com.
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