Alumni’s company launches AI-powered video generation tool

Thursday, April 18, 2024

Kitchener-based software company Vidyard has announced that it secured $21 million in August 2023 to fuel the development of its product and artificial intelligence (AI) ambitions. The funding was led by Export Development Canada (EDC).

Co-founded in 2011 by Waterloo Engineering alumni Michael Litt (BASc ’11, systems design engineering) and Devon Galloway (BASc ’10, systems design engineering), Vidyard creates software to host and analyze video performance. Its new AI capabilities include an AI Avatars feature on its Messages platform.

Vidyard provides video messaging, hosting, prospecting and engagement software to sales professionals and marketing teams. The company’s customers can now use the AI Avatars feature to make short videos starring AI-generated versions of themselves.

“Vidyard AI Avatars are the answer to every sales and marketing professional’s dream — personalization at scale — which has, as yet, been almost completely unrealized,” said Jonathan Lister, COO of Vidyard, in an article.

Watch Vidyard CEO Michael Litt’s AI Avatar tell you more.

This article was originally posted on the Waterloo News website.