Alumni’s company launches AI-powered video generation tool
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.