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Lexington-based Wistia Inc. is coming out of beta test stage on Monday with a handful of marquee customers already lined up.
Co-founder Chris Savage came up with the idea for video sharing software while he was a Brown University student working on the documentary film “Buddy: The Rise and Fall of America’s Most Notorious Mayor.” Originally, he intended it for filmmakers needing a way to show their portfolios.
“Before we’d even released the beta version we were getting demand from companies outside of the film space,” he said.
Wistia’s web-based software as-a-service offering allows enterprises to push video to a controlled set of users via the web. Users can then comment, and the software allows the video publisher to track who has watched the video and what parts they spent the most time looking at.
The firm’s announced list of 25 customers includes Cushman & Wakefield, Nestle Nutrition, and Omnicom ad subsidiary Tribal DDB, according to the company.
“We set out to build something that was not actually where we ended up,” said Savage, 25, who co-founded the company with fellow Brown alumnus Brendan Schwartz. Savage said the two quickly realized that enterprise video sharing was a market with huge potential.
Where video has long been in use by sales representatives mid-cycle, it can now be the first thing companies send to a prospect, Savage said. The companies can then track what customers were most interested in. Creative companies like Tribal are using the software to push ad pitches and drafts to customers for comment and revision. Meanwhile, several firms are using the software to push out training videos both internally and externally to business partners.
“For companies, video on the web was no longer an option,” Savage said. “It was an expectation.
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