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
Vidyard, the leading video platform for businesses, 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.”