US-based video technology startup GuideSpark secured $22.2m yesterday in a series C round featuring IDG Ventures, a corporate venturing subsidiary of technology research and media company International Data Group.
Venture capital firm Meritech Capital Partners led the round, which included participation from New Enterprise Associates (NEA) and Storm Ventures.
GuideSpark previously raised $15m in a March 2014 series B round featuring IDG, NEA and Storm Ventures. In 2013, GuideSpark received $5m in an IDG-backed series A round led by Storm.
GuideSpark assists human resources departments in communicating with staff by creating videos displaying information such as employee benefits, stock information and compensations. The videos can be reused across organisations, but are customised and branded for each specific enterprise.
The funding will be used by GuideSpark to support product development, as well as to increase its sales and marketing efforts. The company also plans on establishing new partnerships.