HERNDON, Va., July 15, 2020 /PRNewswire-PRWeb/ -- Vbrick, the leader in enterprise video platform solutions, today announced significant growth fueled by the sustained global adoption of its flagship product Rev across enterprise and federal government sectors.
Vbrick's stellar growth is attributed to the increasing adoption of video as a key component of the digital workplace across large enterprises. Companies are turning to scalable and secure live streaming and video on demand solutions to support communication and collaboration. As a result, Vbrick grew subscription revenues by 47% in the first half of 2020. Vbrick also continued to demonstrate the value of the Rev platform by delivering a world-class enterprise customer gross retention rate of 96% and a net enterprise retention rate of 120%. Significant retention rates illustrate the strong reliance companies have placed on video as a mission critical technology.
As remote work becomes a long term model, enterprises have accelerated their digital workplace strategy and focused on offering employees a secure and scalable video platform that is easy to integrate into established processes and applications. In addition, as organizations elect to move large scale physical events to a virtual model, organizations like Simmons University have successfully leveraged the Rev platform to execute that transition. As a result of the massive influx in demand for both internal company webcasts and external virtual events, Vbrick has seen a 255% year over year increase in webcast hours and 80% year over year growth in number of webcasts delivered on the Rev platform.
"In recent years we have seen a steady adoption of video streaming technology to enable improved collaboration and communication across enterprise, government and educational organizations. More recently, the pace has increased exponentially and is expected to sustain as companies use video to redefine the digital workplace. We are excited that our Rev platform has become a key enabler in this change," said Shelly Heiden, CEO Vbrick Systems, Inc.
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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