No, we did not get the headline wrong. Hard as it may be to believe, the video conferencing startup firm Vidyo which previously managed to raise $100 million has, according to a new SEC filing, raised another $10 for itself. And no, there are no other zeros that follow this amount.
Vidyo is looking to expand its existing product portfolio with a host of other offerings, including browser-based teleconferencing as well as a low-priced executive desktop conferencing system. The company is also facing stiff competition from other players in the segment who are also launching new services for their customers.
For now, we do not know the source of this additional funding and how the company plans to invest this amount in its business. But as soon as we get additional details, we’ll be sure to write them and let our readers know. For now, we wish Vidyo well for its upcoming strategies with its additional $10 funding for purposes it deems fit.