Demand for Panopto's Enterprise Video Platform Surges
Company Achieves Record Growth among Enterprise Clients, Continues International Market Expansion, and Sets an Industry Standard for Customer Satisfaction
Jun 11, 2015, 09:00 ET
SEATTLE, June 11, 2015 /PRNewswire/ -- Panopto, a leading video platform provider, today announced record growth in its sales to enterprise clients. For the first quarter of fiscal year 2015, the number of new corporate accounts in the trailing 12 months was more than double the number for the prior 12-month period. Growth was driven by strong demand in key vertical markets, including technology, manufacturing, healthcare, energy, financial services, law, construction, and insurance. The company also announced that, for the third year running, its customer service had received a 99% satisfaction rating by its clients, setting a benchmark for the video platform industry.
"Advances in video content management technology and shifting workforce demographics are driving unprecedented demand for enterprise video," said Eric Burns, CEO of Panopto. "As Baby Boomers retire at a record rate and Millennials become the majority of the workforce, video is the unifying technology that helps businesses preserve the knowledge of exiting employees while onboarding a new generation of digital natives. At Panopto, we have the privilege of helping these organizations achieve their goals through easy-to-use video software and top-notch customer service."
Upsurge in Product Usage Around the Globe
Panopto's momentum is also reflected in end user adoption of its video platform, which saw a significant increase in the first half of 2015. Each month, Panopto's customers now stream more than 100 years worth of video to millions of internal and external viewers. Every day, these customers also use Panopto's unique Smart Search technology to search inside the content of more than 1 million videos that are hosted in Panopto's cloud video content management system (video CMS).
In response to increasing international demand, Panopto has expanded its operations, support, and sales in Europe and Asia. The company recently announced a new regional cloud hosting option in Ireland, helping European customers comply with organizational standards and policies for data management. In addition, Panopto opened a new office in Beijing, and has expanded its presence in Germany, Austria, Switzerland, Australia, and New Zealand.
Video Platform Innovation
In the last 12 months, Panopto continued to lead the video platform market in technology innovation, announcing key features that set new benchmarks in video search technology, standards-based video streaming, and video playback quality. These include:
- The industry's first end-to-end media pipeline built on the HLS modern streaming protocol;
- The Universal Capture Specification, an XML-based format for improving interoperability between video capture and video content management systems;
- New apps that bring video management and streaming to Salesforce, SharePoint and Jive;
- Search federation using the OpenSearch standard, which brings Panopto's inside-video search technology to a range of enterprise applications and portals;
- Support for streaming at up to 60 frames per second (60fps), bringing broadcast quality video to corporate town hall events, online training videos, and more.
Awards and Recognition
Panopto has also been recognized by leading analyst groups and the media for its innovation and growth. The company was recognized by Gartner as a Leader in the 2014 Magic Quadrant for Enterprise Video Content Management. In Forrester's report entitled, Pick The Right Webcasting Tool To Drive Customer Or Employee Engagement, Panopto was recognized for having "the best support for video search." The company was also ranked 61st on Deloitte's 2014 Technology Fast 500 and was listed among the fastest-growing privately-held companies in the Inc. 5000.
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 searchable video presentations in minutes from any device. 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 http://www.panopto.com.
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