Vyond Raises $50 Million To Solidify Position As Leader In Enterprise Video Creation
SAN MATEO, Calif., April 16, 2021 /PRNewswire/ -- Vyond, the leader in animated video content creation for the enterprise, has raised $50M in growth capital to take advantage of the immense demand for its platform and further extend its leadership position in market.
The rise and proliferation of video as a dominant communication medium in the enterprise over the last decade has been undeniable. Numerous vendors have come and gone, offering low-end, low-cost solutions enabling creation of low-quality content for one-off, project-based use cases. Increasing consumer and small-business demand has muted the need to address the most fundamental requirements of large, sophisticated blue chip organizations; security, compliance, scalability, and collaboration, to name a few.
Vyond has been deliberately architected to serve the needs of enterprise organizations – while delivering best-in-class ease of use and premium content quality – securing dominant market share in recent years through a dedication to customer success. Over 80% of the Fortune 500 have voted with their checkbooks in cementing Vyond's place in market as the go-to video creation solution for an increasing breadth of enterprise use cases.
"Growth at all costs has never been a page in our playbook", notes Gary Lipkowitz, CEO. "Vyond has delivered a consistent track record of high growth, coupled with sound fundamentals and we've been profitable since inception. Last year we generated more cash flow than we've ever raised."
Vyond has offices in San Mateo, CA, Hong Kong, and Taiwan with 125 total FTE globally. Approximately 20,000 customers across 150+ countries leverage Vyond's platform to deliver professional quality video content for both internal and external communications across an expansive range of functional groups and use cases.
Lipkowitz further noted: "Ease of use is a given in this space. Delivering an intuitive creation environment that produces a level of quality and professionalism that the most sophisticated companies on the planet demand is hard. We're democratizing video creation in the enterprise, enabling any end user to develop top notch videos with high velocity, delivering content which was previously only possible with expensive solutions requiring specialized training. We're excited to embark on this next phase of development with the PeakSpan team."
PeakSpan Capital, a growth-stage investment firm with a focused mandate of partnering with B2B SaaS companies across a well-defined roster of categories led the round. Matt Melymuka, Co-Founder and Partner at PeakSpan Capital added, "As thematic investors, our job is to become steeped in a category we're focused on, understand the dynamics at play and cultivate a comprehensive view of how the market will shake out and which vendors are best positioned to capitalize on the foundational drivers influencing the space. The adoption of video by businesses of all shapes and sizes is clear, but most solutions fail to deliver critical needs of enterprise organizations. Compliance mandates, security protocols, collaboration features, scalability requirements; if your platform doesn't satisfy them, you won't get past procurement. Vyond is the only vendor in the space that has developed the tools sophisticated organizations view as table stakes. It is rare to see a vendor who stands alone in a category with such strategic potential."
"The team at Vyond embodies everything we look for as investors who value a dedication to resilient value creation and deliberate pursuit of sensible scaling. Vyond's scale and profitability is unique in their market and is the result of years of focus, discipline and hard work from an incredible team that we are privileged to work with," said Phil Dur, Co-Founder and Managing Partner at PeakSpan.
Vyond will use the proceeds from the round to continue its history of high caliber innovation velocity and dedication to delivering superior customer success at scale, for the most demanding customers across the globe.
About Vyond
Vyond's mission is to put the power of video in the hands of everyone. Vyond allows people of all skill levels in all industries and job roles to create dynamic and powerful media. With features that go beyond moving text and images, you can build character-driven stories or compelling data visualizations that engage audiences and deliver results. Founded as GoAnimate in 2007, Vyond has helped tens of millions of users across six continents easily and cost-effectively produce high quality videos to address any business need. To learn more about Vyond, please visit www.vyond.com.
About PeakSpan Capital
PeakSpan Capital is a growth equity firm based in New York City and Silicon Valley, with a focused mission to be the partner of choice for growth stage entrepreneurial teams who are building amazing software targeted at business buyers of all sizes. PeakSpan combines deep domain expertise within a select number of themes with a homegrown, proprietary technology platform providing visibility into company and market performance, to help entrepreneurs drive resilient, risk-adjusted value creation. To learn more about PeakSpan Capital and its portfolio, please visit: www.peakspancapital.com.
SOURCE Vyond
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