Fun fact: Google’s video-chat product, Google Hangouts, is actually powered another company’s technology, and that company is called Vidyo.
Now Vidyo has just pocketed a new $20 million in funding for its video chat technology, according to a WSJ report.
The company builds videoconferencing technology and both powers other companies’ products, such as Google Hangouts, as well as sells it under it own name.
While video-conferencing for work or enterprise situations is certainly a major application, Vidyo believes that there are many types of consumer uses for video-conferencing emerging, like health care, for example. A lot of companies have been integrating it as a way for people and patients to connect with doctors and health care providers.
Video chatting has also become popular in the mobile communications space, with messaging apps, such as Snapchat, adding it as a feature and others building apps focused entirely on it.
Vidyo’s new funding comes from its existing investors, including Menlo Ventures, Rho Ventures, Sevin Rosen Funds, QuestMark Partners, and Juniper Networks.
Vidyo was founded in 2005, and is based in Hackensack, N.J. This new round brings the company’s total funding to $135.1 million.
Vidyo pioneered Personal Telepresence enabling multi-party video conferences using a personal computer, with HD quality over converged IP networks. Leveraging its patented technologies built on the new H.264 Scalable Video Coding (SVC)... read more »
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