Vidyard Launches AI Avatars Following Funding from EDC and Existing Investors

Vidyard, a Kitchener-Waterloo-based company, secured approximately $21 million CAD ($15 million USD) in financing led by Export Development Canada (EDC) to fuel its product and AI development efforts. This funding has been utilized to expand its sales and marketing software, including integrating new AI capabilities, and position the company for potential mergers and acquisitions (M&A).

Today, Vidyard has unveiled its entry into the AI avatar market with the introduction of AI Avatars feature to its Messages platform. This feature enables customers to quickly create high-quality, short-form videos starring AI-generated versions of themselves, offering personalization at scale for sales and marketing professionals.Vidyard’s impressive clientele encompasses over 250,000 companies, including industry leaders such as Ceridian, HubSpot, LinkedIn, Marketo, Microsoft, S&P Global, and Salesforce. This diverse array of clients highlights the widespread adoption and trust in Vidyard’s video messaging, hosting, prospecting, and engagement software across various sectors and industries.

In addition to the AI Avatars feature, Vidyard provides other AI-powered products and tools such as Vidyard Prospector and its AI Script Generator. The company recently secured a financing round led by Export Development Canada (EDC), with participation from BMO Capital Partners and existing investors Battery Ventures, Bessemer Venture Partners, and Inovia Capital. This funding brings Vidyard’s total funding to nearly $91 million USD, enabling the company to further develop its innovative solutions and expand its market reach.

Vidyard experienced heightened demand for its solutions during the COVID-19 pandemic, with virtual sales becoming imperative due to restrictions on field selling. Leveraging its growth trajectory and sound financial management during this challenging period, the company was able to make substantial investments in product development and explore potential mergers and acquisitions. This strategic approach has positioned Vidyard for continued success and innovation in the rapidly evolving digital sales landscape.

Despite recent fluctuations in headcount, Vidyard remains steadfast in its commitment to product innovation, particularly in leveraging AI to assist customers in creating video content more efficiently. The introduction of AI Avatars underscores this dedication, aiming to boost seller productivity by facilitating personalized video messages at scale. By streamlining the process and minimizing the time required for recording and editing videos, Vidyard seeks to empower its users to enhance their outreach efforts and foster meaningful connections with clients and prospects.

Industry experts anticipate that the introduction of AI Avatars will alleviate significant challenges faced by users, including stage fright, time constraints, and prioritization issues typically associated with traditional video recording methods. Vidyard’s AI Avatars feature indeed provides a seamless and efficient method for users to create personalized video content at scale. By leveraging AI technology, users can quickly generate high-quality, short-form videos featuring AI-generated versions of themselves, allowing for a more personalized and engaging communication approach.

This innovation not only enhances productivity by streamlining the video creation process but also improves the effectiveness of outreach efforts in sales and marketing endeavors. With personalized video content, sales and marketing professionals can better connect with their audience, resulting in higher engagement rates and more impactful communication.Overall, Vidyard’s AI Avatars feature represents a significant advancement in personalized video messaging, empowering users to enhance their productivity and effectiveness in reaching their target audience.