A Toronto-based startup that has developed a video marketing platform for business has closed a Series A financing round worth $6 million.
Vidyard is a video marketing platform that helps marketers add video to their web sites, get real-time analytics, syndicate video to social networks and YouTube, and access other customization and reporting tools.
The financing round was led by OMERS Ventures, alongside current investors iNovia Capital and SoftTech VC. In addition, Jill Rowley participated with a personal investment in the company.
“Our journey to this point has been nothing short of remarkable and I’m happy to announce that we’ve secured Series A financing from an amazing group of investors. This deal comes on the tail of significant momentum as we continue to develop the ‘video marketing platform’ category. We are now poised to grow our market leadership via world-class product integrations and a continued focus on enhancing the features that our marketers crave,” said Michael Litt, founder and CEO of Vidyard, in a statement.
The vendor believes access to more detailed analytics will help make video a powerful tool for business growth, and will help marketers make the case for more investment in video marketing by being able to better target their efforts, and demonstrate quantifiable results.
“Vidyard’s simple brilliance addresses a clear and significant need in a rapidly growing market. Michael Litt and Devon Galloway, Vidyard’s founders, took the initiative to develop a valuable and easy-to-use solution for a challenge they faced every day in their own businesses. Their deep domain expertise and applied innovation is what attracted OMERS Ventures to make this investment,” said Derek Smyth, Managing Director of OMERS Ventures, in a statement.