Strong Vertical Performance, New Executive Leadership, and Continued Innovation Positions Vidyo for Exponential Growth
Hackensack, NJ – March 15, 2018 — Vidyo, Inc., the leader in embedded video communications, reports that its fiscal year, completed on January 31, was a year of significant growth in key vertical markets. This was due largely to expansion in healthcare and financial services and growth of its platform-as-a-service offering. In healthcare, Vidyo signed large organizations as new customers, including Henry Ford Health System and Rush University Medical Center, and now supports telehealth programs with nearly 300 hospital delivery organizations (HDOs). In the financial services sector, Vidyo closed several new business and expansion deals with global banks and now powers seven of the top 25. The company is also achieving very strong growth in the credit union sector, signing 25 new customers in the past 12 months.
“We enter our new fiscal year with a laser-like focus on delivering a video interaction platform that no other provider can match,” said MIchael Patsalos-Fox, Chairman and CEO of Vidyo. “We will continue to capitalize on our success in regulated markets such as healthcare and financial services. At the same time, we will further extend our footprint in markets like unified communications, public safety, and field services through a growing number of OEM agreements. Our strategy puts Vidyo in position to lead in the embedded video market for years to come.”
Vidyo achieved over 45% growth across the core vertical sectors of its business and over 450% usage growth on the VidyoCloud platform. Other notable milestones reached during the year include:
- The launch of CPaaS solution vidyo.io™, opening up the power of the VidyoCloud™ platform to developers, enterprises, and startups. Allscripts embedded real-time video into the workflows of its FollowMyHealth® product in under 6 months with vidyo.io. The platform now boasts over 6,000 active developers.
- The launch of VidyoEngage™, including VidyoEngage for Genesys, delivering advanced workflows that power seamless, high-impact video experiences for patients, customers, and high-value clients.
- The launch of a streamlined product line that sets a new industry standard for cloud-based video interaction. Vidyo’s product portfolio serves enterprise businesses, healthcare organizations, and financial services institutions with unparalleled quality video interaction at scale.
- A continued commitment to innovation and invention with the first implementation of the VP9 codec optimized for real-time video, built from the ground up.
- The inaugural Vidyo Healthcare Summit, which gathered customers, partners, and thought leaders to discuss the future of telehealth, how to better serve patients, and how to deliver improved outcomes.
Vidyo’s momentum has been spearheaded by a revamped executive team. Patsalos-Fox, who has been on the Vidyo board of directors since 2013 and Chairman since mid-2017, took the reins as CEO in December 2017. Chief Marketing Officer, Elana Anderson, and SVP of Product and Engineering, Talila Millman, joined Vidyo during the year. Their addition, as well as the promotions of Chris Thomas to SVP of Global Sales and Nahum Cohen to SVP of Cloud and Customer Operations, has brought significant discipline and focus to their respective departments.
“The future and value of video communications lie in the ability to embed it easily into workflows and business processes. I joined Vidyo because of the core technology platform and the opportunity it has to change the way that businesses work in the digital age,” said Anderson. “Face-to-face interaction with another human makes sense more than ever. High-quality, real-time video delivers just that with the added convenience of being available anywhere. It differentiates customer engagement, simplifies complex processes, and even saves lives.”
“Vidyo is surging into its new fiscal year with a refreshed focus and an enormous amount of positive momentum. We have successfully transformed into an enterprise-class SaaS business. We are taking full aim at delighting our customers by providing them a first-rate video platform to collaborate, engage, and build anything they might imagine,” Patsalos-Fox concluded.