Canada-based video analytics platform Vidyard closed a $35m series C round yesterday featuring cloud computing company Salesforce.com’s corporate venturing subsidiary, Salesforce Ventures.
Venture capital firm Battery Ventures led the round while Omers Ventures, the investment vehicle of Ontario state’s pension fund, Bessemer Venture Partners, iNovia Capital and SoftTech VC also participated.
Vidyard, which graduated from accelerator Y Combinator in 2011, enables companies to embed videos on their website that identify and track each individual viewer. The software helps businesses gain consumer insight and understand which campaigns are most efficient.
The cash will go towards the development of additional products to complement the existing offering. Michael Brown, general partner at Battery Ventures, will join Vidyard’s board of directors as part of the deal.
Vidyard previously secured $18m in a January 2015 round led by Bessemer Venture Partners that included Salesforce Ventures, Omers Ventures, iNovia Capital and SoftTech VC.
Omers had already led Vidyard’s $6m series A round in 2013, which also featured SoftTech, iNovia and angel investor Jill Rowley. Vidyard obtained $1.7m in seed capital in 2011 from Y Combinator, SoftTech, Andreessen Horowitz, SV Angel, iNovia and assorted angel investors.
The company also received an undisclosed amount from Y Combinator when it graduated from the accelerator. Y Combinator typically invested $17,000 in startups at the time.
Michael Litt, chief executive and co-founder of Vidyard, said: “Video represents a massive opportunity for businesses to drive greater engagement with their message and to use second-by-second viewing data to understand the digital body language of potential buyers.
“We are excited to help our customers expand their use of video content and analytics across every facet of their businesses, and we are thrilled by the results they are seeing every day in the field.”