North East video software company secures major US investment
VEO has secured significant investment from a world-class U.S. education organisation to accelerate the use of its innovative video tagging technology across the globe.
The Newcastle-based company’s video tagging software is used by customers across 20 countries globally, including China, the U.S., Canada, Singapore and Kazakhstan.
The investment will allow VEO to take advantage of the growing number of opportunities the company has for further global expansion, particularly in the U.S. education market.
The investor, The National Center on Education and the Economy (NCEE), based in Washington, DC, has trained more than 15,000 school leaders across 27 U.S. states, and is using VEO’s software with great success. VEO will now become a central part of NCEE’s work to provide school leaders with the knowledge, skills and tools necessary to design and lead high-performing schools and school systems.
The investment follows a period of rapid growth for the business, whose software is used in tens of thousands of classrooms and meeting rooms in organisations across the world.
Newcastle law firm Sintons assisted VEO on the transaction.
Commenting on the investment, Co-founder of VEO, Paul Miller, said,
“Edtech is one of the UK’s fastest growing sectors and this investment will allow us to continue to grow rapidly with it. Our software is already helping people around the world to make valuable changes to improve what they do, and we’re looking forward to working with the NCEE to bring transformational change and collaborative learning to more professionals around the United States and beyond.”
Larry Molinaro, Director of Research and Development at NCEE added,
“The professional learning opportunities NCEE creates are built to engage and immerse adult learners in the content. We look for technology solutions to help foster this goal and believe VEO is the best solution available in the market. We’re thrilled to partner with VEO and continue our work providing schools and districts high-quality leadership development supports.”
“Through the creation of their highly innovative software, VEO has built a trusted global client base from its base in the North East of England, which is increasingly recognised as a leading digital and tech destination on an international scale. This investment increases the huge global potential for VEO further still and we are very pleased to have been able to support them.”
VEO’s technology enables users to enjoy powerful learning moments by recording, tagging and sharing videos.
Current customers include LV=, Growth Coaching International and Singapore’s Ministry of Education. The software is currently available as a web platform with native iOS and Android apps.