HERNDON, Va., April 9, 2020 /PRNewswire-PRWeb/ -- Vbrick, the leader in enterprise video platform solutions, today announced continued dramatic growth fueled by the sustained global adoption of its flagship product Rev across enterprise and federal government sectors.
Vbrick's growth can be attributed to an increased global demand for scalable and secure live streaming and video on demand solutions to support communication and collaboration across the enterprise. In 2019, Vbrick grew Annual Recurring Revenue (ARR) bookings by 45% and this growth has accelerated to 87% during the first quarter of 2020. During the past 12 months, Vbrick has added nearly 100 new customers contributing to a total customer base that now exceeds 2.7 million licensed users while maintaining a 122% net enterprise customer retention rate. Vbrick has also seen significant pipeline expansion with an increase of 180% quarter over quarter as of the end of the first quarter of 2020.
"Over the past several years we have seen a steady adoption of video streaming technology to enable improved collaboration and communication across commercial, government and educational institutions. The Covid-19 pandemic has highlighted the need for organizations to be able to reach all employees with important business communications, especially in time of crisis. As a result, organizations have realized the mission critical nature of video and the rate of adoption has been exponential, "said Shelly Heiden, CEO Vbrick Systems, Inc.
In response to Covid-19, companies have turned to video to support business continuity and maintain employee communication and collaboration. Vbrick has responded to this urgent need by developing free trial and packaged offerings to ensure companies can rapidly leverage video to communicate in this unprecedented time. In addition, Vbrick recently partnered with Cisco to provide a Rev free trial offer for Webex customers interested in conducting a large scale event using a Webex meeting as the video source for the webcast. Webcasts delivered on the Rev platform have increased 166% year over year and total attendees of these webcasts has grown 371%. The average number of attendees to virtual events with greater than 5,000 viewers has grown 266%.
About Vbrick
Vbrick enables organizations to leverage the power of video to engage, empower and transform. Our industry-leading Rev enterprise video platform is a complete solution for businesses to capture, manage and securely distribute live and on-demand video globally at scale to any device. The world's most widely recognized brands adopt Vbrick solutions to overcome network complexity and risk to meet critical live video needs from CEO all-hands meetings to team broadcasts and to support innovative uses of on-demand recorded videos for sales, marketing, training, compliance, security, and user-generated content. Vbrick solutions integrate with and complement unified communications systems and provide the analytics and intelligence to maximize return on video investments. To learn more, visit http://www.vbrick.com.
SOURCE Vbrick Systems, Inc.
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