Business video conferencing systems provider Vidyo is launching a fresh challenge against the dominance of heavyweights Polycom and Cisco, after securing millions in new funding.
The firm has become revitalised by a fresh injection of $22.5 million (£14.6 million), which it intends to use for global sales and marketing activities; all the time promoting its leading telepresence solutions.
According to a eWeekEurope.co.uk report, investors such as Menlo Ventures, Rho Ventures, Star Ventures and the Four Rivers Group, have all contributed towards the financing.
In a Vidyo.com statement, Ofer Shapiro, Vidyo co-founder and CEO, asserted that his firm is among the few telepresence providers that offer multi-platform solutions on a single infrastructure.
He praised the firm’s “outstanding investors who understand the architectural shift occurring in the market today and customers who will no longer pay the excessive cost of traditional telepresence when they can truly have more for less.”
Strategically, Vidyo hopes to steal the thunder of its competitors by offering high-quality solutions at a fraction of the price. Yet it will keep the functionality of its offerings.
“You’re always trying to manage these trade-offs,” Young-Sae Song, vice president of product marketing at Vidyo, said in a former interview with eWEEK. “Then there’s us. We’re trying to bring the high quality without the high costs.”