Hackensack, New Jersey-based Vidyo, a videoconferencing company that works with healthcare stakeholders, has raised a $10 million strategic investment from Kaiser Permanente Ventures and another $5 million from existing investors.
“Kaiser Permanente Ventures is committed to partnering with innovative organizations that support our work to improve the health of patients and the communities we serve,” Jordan Kramer, Director Kaiser Permanente Ventures, said in a statement. “We view our partnership with Vidyo, with its telehealth offerings that increase patient convenience and the overall quality of care, as advancing this strategy.”
Unlike services like Skype, videoconferencing over Vidyo is encrypted, which makes it HIPAA compliant. As such, it powers a number of medical technology vendors. For instance, the company partnered with Philips in 2012 and with the California Telehealth Network in 2013. The company’s website lists a number of customers in the provider, pharma, payer and vendor spaces including Mercy Health, Teva Pharmaceuticals, Sutter Health, HealthSpot, Miami Children’s Hospital, UPMC, Massachusetts General Hospital, the Mayo Clinic, and UnitedHealthGroup.
“The VidyoWorks platform and APIs have been deployed by the top names in healthcare and the quality and experience delivered have played a key role in advancing the use of telemedicine across hospital systems and to patient homes,” Vidyo CEO Eran Westman said in a statement. “Vidyo is proud to deliver innovative healthcare solutions, and to work with a large ecosystem of partners to transform healthcare with new applications and integrations.”
Vidyo has raised a total of $163 million to date. The company plans to use the funding to accelerate growth in vertical markets.