Total amount raised
$90.7M
Latest funding date
2024-04-15
Location
Vidyard has successfully raised funds through six funding rounds, with notable investors including Battery Ventures and Export Development Canada. The platform offers AI-powered video tools designed to enhance virtual sales and marketing efforts.
What Is Vidyard?
Vidyard, a private company based in Kitchener, Ontario, Canada, specializes in video marketing tools designed to enhance virtual sales and marketing efforts. The platform offers AI-powered personalized video messages, video hosting, and seamless integrations with various sales and marketing tools.
Founded in 2011, Vidyard has grown to employ between 101 and 250 people. The company has successfully raised funds through multiple rounds, attracting more than 15 investors. Vidyard's solutions aim to help sales teams build better customer relationships and achieve higher engagement and conversion rates.
How Much Funding Has Vidyard Raised?
- Seed Round
- Amount Raised: USD 1,650,000
- Date: November 17, 2011
- Lead Investors: Andreessen Horowitz, SV Angel
- Participants: SoftTech VC, iNovia Capital, Y Combinator, Paul Buchheit, Jawed Karim (YouTube co-founder), Dennis Kavelman, and others
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and gain early market traction.
- Series A
- Amount Raised: USD 6,000,000
- Date: March 21, 2013
- Lead Investors: OMERS Ventures
- Participants: iNovia Capital, SoftTech VC, Jill Rowley (angel)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and expand the team.
- Series B
- Amount Raised: USD 18,000,000
- Date: January 14, 2015
- Lead Investors: Bessemer Venture Partners
- Participants: iNovia Capital, OMERS Ventures, Salesforce Ventures, SoftTech VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance product offerings.
- Series C
- Amount Raised: USD 35,000,000
- Date: January 26, 2016
- Lead Investors: Battery Ventures
- Participants: Bessemer Venture Partners, Salesforce Ventures, OMERS Ventures, iNovia Capital, SoftTech VC
- Valuation at Round: Not publicly disclosed ($300M per CBInsights)
- Motivation Behind the Round: To develop new products and expand customer engagement capabilities.
- Debt Financing
- Amount Raised: USD 15,000,000
- Date: December 20, 2019
- Lead Investors: BMO Technology & Innovation Banking Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support future growth, product innovation, M&A activity, and global expansion.
- Convertible Note (Series Unknown)
- Amount Raised: USD 15,000,000 (approx. CAD 21,000,000)
- Date: April 16, 2024 (round closed August 2023; announced April 2024)
- Lead Investors: Export Development Canada (EDC)
- Participants: BMO Capital Partners, Battery Ventures, Bessemer Venture Partners, iNovia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate AI innovation, including the launch of AI avatar technology, and expand market reach.
Total Amount Raised: USD 90,650,000 (approximately $90.7M across all disclosed rounds).
Current Valuation: Not publicly disclosed
Key Investors
- Battery Ventures
- Details: Battery Ventures is a global, technology-focused investment firm. They led the Series C round and have continued to back Vidyard through the 2024 convertible note round.
- Investment Focus Areas: Software and services, web infrastructure, e-commerce, digital media, industrial technologies.
- Notable Investments: Nutanix, Coupa Software, Glassdoor.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a venture capital firm that led Vidyard's Series B and has participated through the 2024 round.
- Investment Focus Areas: Cloud computing, consumer, healthcare, enterprise technology.
- Notable Investments: LinkedIn, Shopify, Pinterest.
- Export Development Canada (EDC)
- Details: Export Development Canada is Canada's export credit agency. EDC led Vidyard's most recent funding round in 2024, supporting the company's AI-driven product expansion and international growth.
- Investment Focus Areas: Canadian exporters and companies with global growth potential.
- Notable Investments: Various Canadian technology exporters.
- OMERS Ventures
- Details: OMERS Ventures is the venture capital investment arm of OMERS, one of Canada's largest pension funds. They led Vidyard's Series A and have participated in subsequent rounds.
- Investment Focus Areas: Technology, media, telecommunications, healthcare.
- Notable Investments: Shopify, Hootsuite, Hopper.
- iNovia Capital
- Details: iNovia Capital is a venture capital firm that has backed Vidyard since the Seed round in 2011 through all subsequent rounds including 2024.
- Investment Focus Areas: Digital media, SaaS, e-commerce, fintech.
- Notable Investments: Lightspeed, AppDirect, Clearpath Robotics.
What's Next for Vidyard?
Vidyard stands at the cusp of significant growth opportunities, driven by the increasing importance of video in digital marketing. With video expected to account for 80% of all internet traffic, Vidyard is well-positioned to expand its video analytics and customer engagement tools. The company aims to develop new products that leverage digital body language to provide deeper customer insights, enhancing marketing and sales strategies.
Future fundraising opportunities appear promising, given the strong backing from high-profile investors like Battery Ventures and Salesforce Ventures. As Vidyard continues to innovate and demonstrate market leadership, it is likely to attract additional investment to fuel its growth. However, the company may face challenges such as intense competition and the need to keep pace with rapidly evolving technology and customer expectations.
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