KnowledgeVision Systems, a provider of cloud-based tools and services for creating online, on-demand and live multimedia presentations, has closed an additional $2 million in Series A financing from a group of investors led by GrandBanks Capital. The company said it plans to use the new funds to strengthen its market positioning and support global expansion.
The Concord, MA-based company’s tools — KVStudio and Knovio — are designed to enable users to create synchronized online video and audio presentations that combine their best communicators with PowerPoint slides, web pages and applications and supplemental material, and make them available from web browsers and mobile devices anytime, anywhere.
The company now has customers across the Americas, Europe and Asia utilizing its solutions for sales and marketing, training and professional development, and communications with customers, employees and investors.
The company’s venture backer pointed to the company’s explosive growth this past year as a key reason for supporting its initiatives.
“We have high expectations for KnowledgeVision’s growth potential in a world where online video and content marketing are experiencing explosive growth,” said Charley Lax, Founding General Partner of GrandBanks. “Its online presentations combine the persuasive ability of PowerPoint with the ubiquity of video services like YouTube and Brightcove. In our year of involvement with the company, KnowledgeVision has nearly quintupled in revenue and added marquee clients like Alcatel-Lucent, Bain Capital, Progress Software, Equifax, the Federal Reserve Bank of New York, and Oxfam America.”
During 2011, the company also expanded its relationships with online video platform providers Brightcove and Ooyala.
"[In 2011] clients continually surprised us with their creativity in using our cloud services to create compelling, high-performance video content,” said Michael Kolowich, Founder & CEO, KnowledgeVision. “Also this year, our customers began using KnowledgeVision's tools in close coordination with CRM systems like SalesForce.com, marketing automation systems like Eloqua and Marketo, and learning management systems like Moodle, CyberU, and SuccessFactors."
According to Kolowich, the company will utilize the new funding to integrate new content applications in the social and mobile space, focusing on tools that streamline rich content creation for companies of all sizes.