VMIX touts triple-digit revenue growth, expansion plans

VMIX, a San Diego-based online video SaaS platform, announced triple-digit revenue growth in 2008 and said it is on the road to reach profitability in 2009. The three-year-old company drew down a hefty $16.5 million round of funding in Oct. 2007, and it has gone through several product iterations before arriving at its present enterprise and big media facing video management product.

VMIX has nabbed some high-profile customers like Tribune and McClatchy, and it has plans to grow despite the slumping economy by opening a New York office.

"While others may be downsizing or even shutting their doors, we are experiencing steady, solid growth," noted Mike Glickenhaus, VMIX President and CEO.

VMIX said it is seeing increased success in targeting enterprises with its platform.

"(It) offers companies a highly cost-effective way to improve communications and better engage clients, partners and their own employees using online video," the company said in a statement.

The enterprise online video space is quite a crowded one, however, with major players like thePlatform and Brightcove catering to large media companies and video publishers while companies such as Ooyala, Fliqz, and VideoEgg targeting the small to medium publishers. Can VMIX continue to win enough business to reach profitability? As one would expect, Glickenhaus is staying positive.

"These days more than ever, our current and prospective clients are looking for a robust, flexible, and easy-to-use online video platform, which is exactly what VMIX provides," added Glickenhaus. "We deliver not only the platform, but also maximize ROI through various monetization strategies in areas like advertising, sales, and marketing; and financial efficiencies in training, customer service, human resources, and more." 

For more:
- see the press release here 

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