Vidyo, Inc. today announced that it completed another record year, delivering 68% billings growth for 2012. The company’s market reach expanded holistically with its top 25 reseller partners growing over 435% in aggregate from Q1 2011 through Q4 2012, key new partnerships with companies such as Nintendo and 24 service providers and multiple marquee healthcare partners.
“Vidyo is outpacing the market as a result of its exceptional quality and affordable video conferencing solutions that deliver superior value and scalability. Vidyo’s continued growth is a testament to its innovative software platform that has opened new markets with applications that address the business process needs of customers,” said, Troy Jensen, Managing Director, Piper Jaffray. “As Vidyo gains market share, incumbent players are taking note and making changes to their business models and offerings in an attempt to compete. It remains to be seen if the incumbents will be able to catch up.”
“2012 was a pivotal year for Vidyo,” said Ofer Shapiro, Vidyo’s co-founder and CEO. “We have not only delivered tremendous business growth and market traction, but also initiated a measurable market shift that has completely transformed the video conferencing industry. We continue to demonstrate the innovation, strength and determination of a true industry leader.”
Vidyo unlocked several high-profile market segments in FY 2012 with marquee federal wins, the healthcare vertical growing by 77% and enterprise business growing 54% year-over-year. Vidyo’s service provider segment expanded with 24 new partners that have increased the company’s recurring revenues and opened new markets. Vidyo’s revolutionary pricing model enables end users to get personal video conferencing at audio conferencing price points. Also, in FY 2012, 51% of Vidyo’s billings came from outside of the United States, the company experienced significant new customer growth, and 18% quarterly repeat sales into its service providers and end-user installed base of customers.
“We are seeing phenomenal growth and increased interest in Vidyo’s offerings and White Label program,” said Olivier de Puymorin, CEO and founder of Arkadin, one of the largest and fastest-growing collaboration service providers in the world. “This year alone Arkadin’s revenue based on Vidyo products grew 176%. We’ve experienced tremendous pick up from important customers including leading global carriers, and we expect to see more and more companies enlist this game-changing go-to-market strategy.”
Vidyo has made similar impacts in the telehealth market, driving technology innovation for healthcare providers and enabling new applications for patient care and physician collaboration with partners such as Philips, HealthSpot, REACH Health, Rubbermaid Telemedicine and AMD Global Telemedicine. The company’s leadership in this market was acknowledged this year with the honor of receiving the Frost & Sullivan North American Video Telemedicine Customer Value Enhancement Award.
Vidyo Achievements and Milestones
The significance of Vidyo’s market-expanding disruptive software platform was notably validated in 2012, as the company garnered several prestigious honors: The 2013 Technology Pioneer Award given by the World Economic Forum and the Frost & Sullivan Global Video Conferencing Technology Leadership Award. Vidyo was also named to Wall Street Journal’s ‘Next Big Thing’ annual list for a third year in a row, and was cited on the MIT Technology Review’s 2013 “50 Most Disruptive Companies”.
Vidyo continues to both invest in its growth and sales reach through global partners and 250 worldwide employees, and expand its technology lead through innovations that have resulted in almost doubling its patent count to 25 awarded patents by the end of 2012.