KITCHENER, Ontario – December 20, 2019 – Vidyard, the leading video platform for businesses, announces that is has closed a $15 million financing facility with the BMO Technology & Innovation Banking Group to support future growth initiatives. The facility 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.
Since 2011, Vidyard has helped businesses of all sizes generate more leads, accelerate pipeline, and delight customers using a video platform that enables the creation, hosting, optimization and measurement of online video content. Global leaders such as Honeywell, LinkedIn, Citibank and Sharp rely on Vidyard to support their video content strategies across marketing, sales, and internal communications–and quickly turn viewers into customers.
“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,” says Michael Litt, CEO, and Co-founder of Vidyard. “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.”
“As businesses continue to embrace the shift to digital, they are recognizing the importance of engagement. Vidyard has been greatly successful in using video to transform communications and are seeing incredible growth – being named to Deloitte’s Fast 50 list this year,” said Andrew Irvine, Head, Canadian Business Banking, BMO Bank of Montreal. “What makes our team unique in the market is their ability to understand the needs of innovation-driven companies. We are a partner on the journey and look forward to continuing this relationship and helping Vidyard accelerate their growth.”
In April 2019, BMO Bank of Montreal (BMO) introduced its Technology & Innovation Banking Group. This specialized group provides advice and funding to companies at every stage of their lifecycle–from start-up to post-exit or IPO–and is uniquely positioned to help technology and innovation companies, by tapping into BMO’s strong North American presence.
Vidyard is the video platform for business that helps organizations drive more revenue through the use of online video. Going beyond video hosting and management, Vidyard helps businesses drive greater engagement in their video content, track the viewing activities of each individual viewer, and turn those views into action. Global leaders such as Honeywell, LinkedIn, Citibank and Sharp rely on Vidyard to power their video content strategies and turn viewers into customers.
Sandy Pell, Head of Corporate Communications, Vidyard