Partnership will help accelerate growth and platform innovation for the leading provider of enterprise and education video solutions
CHICAGO--Sterling Partners’ Education Opportunity Fund, a fund focused on partnering with purpose-driven companies and leaders who foster innovation within the education sector, announced today that it has invested in Panopto. Panopto’s partnership with the Education Opportunity Fund will allow the company to build upon its position as a technology leader in video content management, recording, and live streaming, and will fuel Panopto’s plans for business expansion.
Founded in 2007, Panopto pioneered the categories of lecture capture and enterprise video content management. Today, the company offers a comprehensive video platform that enables a diverse set of organizations to capture and manage all of their video assets.
“Within five years, video will be the dominant form of online communication,” said Education Opportunity Fund Managing Director Jason Rosenberg. “As demand for this technology continues to accelerate, Panopto is leading the industry in product innovation and organizational capability. With its explosive growth in the enterprise, its dominant position in higher education, and its significant technological advantages over its competitors, Panopto is set to emerge as the leader in this multibillion-dollar market. We’re thrilled to partner with the company and the leadership team as they continue to scale.”
Since its founding, the company has amassed more than two million videos in its cloud-based video platform, making it the largest repository of expert learning videos in the world. Each month, customers stream more than 100 years of video from Panopto Cloud, which has experienced 20% compound quarterly growth since 2012. For two years running, the company has been recognized by Gartner as a “Leader” in enterprise video content management and has been ranked as one of the fastest growing companies on Deloitte's Fast 500 list. Current clients include New York Life, GE Healthcare Digital, Yale University, Brown University, and the Wharton School of Business.
“Over the past nine years, we’ve had the privilege of helping millions of students and employees improve themselves and their organizations through video-based learning," said Eric Burns, co-founder and CEO of Panopto. "With Sterling Partners’ Education Opportunity Fund, we've found the ideal investor to help us bring this enabling technology to more businesses and universities around the world. The Education Opportunity Fund's deep network and unique experience across enterprise and education technologies will propel us to the next level of growth and market presence.”
This is the second investment made out of the Education Opportunity Fund, Sterling’s first-ever sector-focused fund. In April 2015, Sterling partnered with USA Funds, a mission-driven, nonprofit organization with a focus on “Completion With a Purpose,” to launch this $200 million fund. Panopto represents a unique platform that directly aligns with the Education Opportunity Fund’s strategy of investing in purpose-driven companies that are advancing opportunities for learners.
Panopto helps businesses and universities create searchable video libraries of their institutional knowledge. Since 2007, the company has been a pioneer in video capture software, video content management systems, and inside-video search technology. Today, Panopto’s video platform is the largest repository of expert learning videos in the world. Headquartered in Seattle with offices in Pittsburgh, London, Hong Kong, Beijing, and Sydney, Panopto has received industry recognition for its innovation, rapid growth, and company culture. For more information, visit www.panopto.com.