In an announcement today, Vidyo, Inc disclosed that it was able to secure an additional US$17.1 million in financing. The financial infusion was coordinated by a strongly sustained input from present investors plus an addition of other new investors with Triangle Peak Partners heading the deal. No other details were disclosed.
Since it was established in 2005, Vidyo has been able to secure a total of US$116 million in capital financing. The additional finances will be used to expand its market globally, maintain and continuously increase its fast growing sales and expansion of its share at the global market. The main focus though of the financial infusion would be at the expansion of its implementation of Vidyo's rare software base VidyoWorks platform.
Co-founder and Managing Director of Triangle Peak Partners, Dain DeGroff said, "Vidyo has proven itself as an innovator in the video conferencing market and has sparked the mass adoption of its technology, which is changing the landscape of visual communications. We are delighted to be a part of Vidyo's successful growth."
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