Accelerating Customer Adoption Fuels 620% Increase in Enterprise Video Platform Users; Company Opens European Data Center to Handle Growing Demand
Herndon, VA, September 6, 2017 – Vbrick had an industry-leading first half performance as the company racked up blue-chip customer wins, saw a massive uptick in Rev platform usage by its enterprise customers, and won recognition of its market leadership by a growing cadre of industry analysts. International business was also a key driver in its first half performance, as Vbrick announced additional investments in a new data center and expansion of its sales and professional services presence in Europe.
Vbrick reported exceptional results for the first half of 2017 YoY across a range of financial metrics including:
- ARR increasing by 72%;
- Rev subscription revenues increase of 134%;
- Deferred revenue increase of 63%;
- Gross margins at 70%.
In addition to stellar financial results, Vbrick also saw impressive increases YoY in customer adoption on the Rev platform including:
- A 620% increase in active users;
- A 277% increase in video uploads;
- An increase in live webcasts of 279%.
International business expanded significantly during the period, boosted by Vbrick’s investment focus in the region. In February, Vbrick named video industry veteran Andreas Wienold as vice president of International Sales, and has since added to its sales and professional services staff in Germany and the United Kingdom. With sites in Germany and Ireland, the data center further enhances Vbrick’s regional capabilities and demonstrates its commitment to data privacy and compliance with the upcoming EU General Data Protection Regulation (GDPR).
Vbrick’s first half results and new data center add to the impressive growing list of achievements for the company, including:
- Selection by Cisco to be its video streaming and recording solution, with Cisco bookings increasing 163% through the first half of 2017;
- The addition of more than 2 million Rev subscribers;
- More than 100% growth in Rev customers in 2016 with hundreds of enterprise customers including 2 of the Fortune 10;
- 100% Rev customer renewal rate;
- Being named a market leader by Gartner Research in its 2016 Magic Quadrant for Enterprise Video Content Management, and by other industry analysts including Frost and Sullivan, Aragon and MarketsandMarkets;
- Aggressive platform innovation, with more than 150 new features added and an agile, 8-week release cycle;
- Completion of a business pivot from a hardware product company to a cloud SaaS company.
“Our vision was to build the first cloud-native enterprise video platform to remove complexity and make it effortless for companies to use video to motivate their workforces, attract new customers and speed knowledge sharing and innovation,” said Shelly Heiden, CEO of Vbrick. “Our first half results are tremendous validation that our vision was exactly what the marketplace needed.
“Today, CEOs we see on the news are using our Rev platform to get the news to their own employees and, as evidenced in our platform usage growth, C-suite webcasts have become the catalyst for video’s rapid ascent throughout the workplace. As a scalable cloud platform, Rev is ideally positioned to capitalize on explosive use of video by businesses,” Heiden said.
Rev is the next-generation of enterprise video platform, with a cloud-native architecture that delivers the scalability, performance and experience of consumer video sites, such as Netflix or Hulu. Rev delivers robust video management capabilities in the cloud with its own, on-premises enterprise content delivery network. Revs’ end-to-end approach enables organizations to use video ubiquitously by converting it into bandwidth-efficient streams for secure viewing through a web browser from any connected device.
Vbrick believes in the power of video to transform the workplace. Its Rev® enterprise video platform removes the technology and pricing restraints that have held business back from tapping video’s clear advantage to persuade, inform and compel people, wherever they are. Visit vbrick.com
Vbrick and Rev are trademarks of Vbrick Systems, Inc., USA.
Darian Germain, Vbrick, (703) 762-6929, firstname.lastname@example.org