Customers, Partners, Investors, Marketers and fellow Vidyardians:
Today, January 14th, 2015, I’m very proud to officially announce the closing of Vidyard’s Series B financing.
On one hand this post represents an exciting achievement; on the other, it’s my final breath in the calm before the storm. Undoubtedly, this is a very happy milestone for the Vidyard family – but what does it really mean for us, for our future? The most honest answer is that I don’t entirely know. This milestone is a single point in our company’s evolution — it’s not the close of an old or beginning of a new chapter — it marks an exciting inflection point in a story that is currently unfolding.
So while I don’t have all the what next answers — I do have some, and it’s these that I share with you today.
$18,000,000 is a lot of money, but I’m going to stop right there. The amount that was most recently invested into Vidyard isn’t something worth celebrating in and of itself. To help explain: the chef doesn’t pop a bottle of champagne when s/he buys the ingredients (no matter how rare) to an ambitious meal. No, s/he pops the bottle in celebration when lips are smacking, bellies are full, and patrons are astonished by what they’ve been served.
Celebration follows the meal and at Vidyard, we’re a very long way from finishing dinner.
So what can we celebrate with this milestone, if it isn’t the delicious after-meal dom we’ve been hoping for? We can celebrate 2 things: validation; and what it will enable us to do next.
The first: validation. Throughout this journey we’ve developed customer experiences that matter. This has been proven by our incredible month-over-month growth of exciting new customers, floods of referrals, and a continuous inbound ramp of both technology and service partners.
We’ve proven that our noble quest of growing by helping our customers grow is consistent with our network of customers and partners and that makes new investors excited.
Vidyard has succeeded in defining the Video Marketing Platform category and this funding represents the fact that we have grown that category into something the rest of the world cares about too.
The second: what we’re going to do next. This isn’t survival money, it’s growth money. That means that we’re going to keep doing exactly what we’ve been doing, but better.
- better customer service
- better products
- better experiences with the brand
- and of course, more innovative technologies that are going to help our customers and partners drive revenue through the use of online video
Now that we have validation and the means to be better, you may wonder how we’re going to execute.
Simply put, we’re going to continue building a company on modern SaaS foundations that exceeds the expectations of our customers through innovative technologies. We’re going to hire the best possible people in the world to deliver on that promise, and we’re going to offer the best customer experience of any technology company anywhere in the world.
Underlying these pillars is our vision of the future and to us, the future of the Internet is television. Consumer behaviors consistently predict enterprise trends. Mass consumption and creation of online video assets is leading to the enterprise’s need to provision video experiences for future purchasing and selling demographics.
Before I close out this note I must say thank you. While a significant investment round has served to validate Vidyard in the eyes of the market, there are countless partner and customer heroes that validated our message well before. Even more simply put, without you, I would not be sitting here writing this post.
I’d also like to extend a special thanks to Byron Deeter of Bessemer Venture Partners, our newest investor, partner and member of our board of directors.
To learn more about our latest financing round and how we’ve gotten here, please refer to the following additional resources:
- Vidyard Timeline – The Rise of Vidyard and the Video Marketing Platform
- Press Release – Vidyard Raises $18M in Series B Financing
- Bessemer Venture Partners Blog – A Video is Worth 18 Million Words
- Wall Street Journal – Vidyard Raises $18M for Enterprise Video
Michael is the CEO and Co-Founder of Vidyard. In addition to growing Vidyard’s success, he is actively involved in the technology sector, acting as a mentor to various early stage companies.