You’d think, after raising nearly $100 million over the course of the last seven years, that video conferencing specialist Vidyo would be all set for cash. But apparently not, as the company has raised even more money, according to a new SEC filing.
We’re still trying to get more details on who put new money in or at what valuation, but according to the filing, Vidyo has raised another $10. That’s right. Not $10 million. A whole 10 dollars.
The funding comes as Vidyo is aggressively expanding its product portfolio with browser-based teleconferencing products and a low-priced executive desktop conferencing system. It also comes as the competition in video conferencing is heating up as some other guys have announced some other things.
We’ve reached out to Vidyo to find out more about the funding and to see how it plans to invest the cash, and will update this post as we learn more.
UPDATE: Vidyo responded, telling us the SEC filing was filed due to a warrant related to a refinanced loan. Here’s its statement:
The company did not complete a new round of equity financing, but simply refinanced its outstanding term loan facility in order to accommodate its working capital requirements driven by its fast growth. In connection therewith the company filed a Form D Friday simply to cover a warrant that was issued to its lender in connection with that refinancing.
Vidyo pioneered Personal Telepresence enabling multi-party video conferences using a personal computer, with HD quality over converged IP networks. Leveraging its patented technologies built on the new H.264 Scalable Video Coding (SVC) standard, Vidyo’s award winning products deliver the industry’s best error resilience and lowest latency videoconferencing over the Internet and general-purpose networks. Vidyo’s technology for OEMs and end-to-end product solutions for enterprises support point-to-point and multi-point connections that include a variety of different platforms ranging from Mac &...