SEATTLE, June 16, 2016 /PRNewswire-USNewswire/ -- Panopto, a leading enterprise video platform provider, today announced record demand for its video capture and management software among businesses and universities. In the first quarter of 2016, company bookings grew 45 percent compared to the same period last year. Growth was driven by new business in key vertical markets, including manufacturing, technology, business services, financial services, healthcare, law, insurance, and higher education.
Industry-Best Net Promoter Score and Customer Satisfaction
Panopto also announced the results of its most recent Net Promoter Score survey, in which the company received a rating of 54. This places Panopto at the top of the video content management industry, in line with popular file sharing service Dropbox (54), ahead of Google Drive (50), and far above the Software and Apps industry average (19).
Introduced by the Harvard Business Review in 2004 based on research supported by Satmetrix, Net Promoter Score (NPS) is an index ranging from -100 to 100 that measures the willingness of customers to recommend a company's products or services. An NPS score higher than 0 is considered to be good, and a score higher than 50 is considered excellent. Extensive research has shown that a company's NPS score acts as a leading indicator of future growth.
Supporting its NPS score is Panopto's client satisfaction rating of 99 percent, a benchmark the company has maintained for four years running.
Exponential Growth in Customer Usage
Panopto's momentum is also reflected in the accelerating use of its cloud video platform, which has nearly tripled in the last 12 months. Each month, Panopto Cloud customers stream nearly 100 years of video to millions of viewers around the world. In aggregate, businesses and universities have amassed more than two million hours of video in the Panopto Cloud.
Panopto's developer platform has also experienced an upsurge in growth over the last year. Through the use of developer APIs and the open, XML-based Universal Capture Specification, customers worldwide make nearly 5 million programmatic calls to Panopto every month.
"Enterprise video is undergoing a major shift," said Eric Burns, co-founder and CEO of Panopto. "Managed services and outsourced production are being replaced by employee-generated content at all levels of the organization. With our relentless focus on making video easier to use, Panopto is uniquely positioned to capitalize on this trend, and to continue the viral adoption we've experienced over the last year."
Video Platform Innovation
In the last year, Panopto has delivered product and business model innovations that extend its lead over competitors in the video content management market. These include:
- Remote Control, a groundbreaking capability that turns smartphones and tablets into touch panels for controlling in-room AV gear;
- Personal View, a new approach to organizing video content that provides users with a private sandbox for creating and sharing videos, and one-click access to their most relevant videos;
- Broadcast-quality live streaming on MacOS using Panopto's patented multi-camera video capture and delivery;
- The industry's first cloud-based video editor built entirely in standards-compliant HTML5;
- A new YouTube-like homepage that can be customized in less than 3 minutes to highlight important videos and upcoming webcasts;
- Unlimited video storage and streaming, which provides businesses with a 100% forecastable video platform budget.
Industry Awards and Recognition
Panopto has also received accolades from industry research groups and the media for its completeness of vision, ability to execute, and business growth. In the 2015 Gartner Magic Quadrant for Enterprise Video Content Management, Panopto was recognized as a Leader for the second year in a row. For the second year running, the company was also ranked among the fastest-growing technology companies in North America on Deloitte's 2015 Technology Fast 500 list. And in January 2016, Panopto was the only provider of video content management software selected by leaders at higher ed institutions as a University Business Readers' Choice Top Product.
Panopto's mission is to help anyone share knowledge using video. Since 2007, the company has created software that enables businesses and universities to create secure, searchable video libraries. Privately-held, Panopto was founded by technology entrepreneurs and software design veterans at Carnegie Mellon University's School of Computer Science. For more information, visit www.panopto.com.
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