Product-led growth driven by the fundamental shift of businesses toward inside sales and the use of video for virtual selling, digital marketing, and remote work
KITCHENER, Ontario – February 16, 2022 – Vidyard, the leading video platform for businesses, today announced that more than 12.5 million people across 250,000 companies are now using its video messaging and video hosting tools.
As Vidyard continues to accelerate coming out of the pandemic and the global reopening of the economy, the company saw its customer base expand by more than 300% annually. The company now sees a record number of daily user sign-ups of more than 4,500 people per day, a 60% increase year over year. Vidyard’s product-led growth drives the company to exceed industry benchmarks for SaaS-based business expansion, such as free-to-paid conversion, activation rate, and stickiness ratio, as set by OpenView.
Vidyard’s growth comes amid a fundamental shift by high tech, SaaS, financial services, professional services, and other industries in how they approach sales, marketing, and remote work. A McKinsey study on How COVID-19 has changed selling models found that the effectiveness and staying power of remote sales and digital channels is high. 83% of B2B decision-makers feel the new selling models are as effective as, or more effective than, pre-COVID-19 models. In fact, these B2B decision makers overwhelmingly believe these shifts will persist, even when the pandemic is over.
“Our continued momentum is a testament to Vidyard’s focus on helping businesses succeed with video in an increasingly digital world,” said Michael Litt, co-founder, and CEO of Vidyard. “After 10 years in business following the company’s exit from Y Combinator, it’s exciting to see how businesses are expanding their use of asynchronous video as they transform from field sales to inside selling and from in-office employees to remote work environments.”
Partner Ecosystem Expansion
In 2021, Vidyard expanded its ecosystem with new partnerships and integrations with leading technology and service providers. Vidyard launched key integrations with leading sales technology platforms, including Gong, Proposify, and the Salesforce High Velocity Sales of tools helping sales teams leverage video messaging and video analytics from their first outreach to their final sales proposal. Vidyard’s new partnership with Theta Lake ensures security and compliance for video users in financial services and other regulated industries. Vidyard also joined forces with global leaders in sales training and sales technology implementation, including Corporate Visions, JB Sales, RAIN Group, Sales Gravy, Sandler, and Skaled, to help sales teams worldwide maximize their returns on video messaging deployments.
Asynchronous Video Goes Mainstream
While leading companies are changing how they sell using video, major collaboration platforms are adopting asynchronous video. To meet the new demands and expectations of modern business professionals, Slack, Dropbox, LinkedIn, LogMeIn, and others are helping to elevate the category and enable the use of video as a communication tool beyond just video calls.
As a cross-platform video creation, messaging, and hosting solution, Vidyard enables business professionals to take advantage of using video everywhere they work, whether via their favorite collaboration platform, sales engagement or CRM tool, desktop app, email, chat, social media, browser, mobile device, or other digital channels for both internal and external communications.
Vidyard Makes Sustainability Commitments
With the growth of the business comes greater opportunity for Vidyard to give back to the communities it serves and help make the world a little greener. Building on its extensive giveback programs and participation in the Pledge 1% program, Vidyard recently launched several new sustainability initiatives, including partnering with the non-profit organization One Tree Planted on its tree reforestation projects worldwide. Vidyard has committed to planting over 3,000 trees this year to reflect its growing global team and help offset its total carbon footprint.
About Vidyard
Vidyard is the leading video platform for businesses. More than 250,000 companies use its video messaging and video hosting tools to engage their customers and prospects more effectively. Vidyard enables enterprises across high tech, SaaS, financial services, professional services, and other industries to use asynchronous video to transform their approach to remote sales, marketing, and customer service. Business professionals can use Vidyard everywhere they work, on any digital platform, to create and share custom videos to deliver their message in a more personal and impactful way through its free and pro tools. Sign up for Vidyard for free: /free.
Media Contacts:
Josh Swarz, Big Valley Marketing for Vidyard – [email protected]
Sarah Duckett, Public Relations & Communications, Vidyard – [email protected]
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