VidGrid has been acquired by Illinois-based Paylocity. The video-sharing startup’s leadership will remain intact as will its headquarters in St. Paul. Other details of the acquisition weren’t disclosed.
“We couldn’t be more proud to join forces with a company like Paylocity,” Nick Stokman, Co-founder and CEO of VidGrid, said in a release. “The Paylocity team shares our vision that video has the power to shape the future of workplace communication, and we’re looking forward to driving stronger collaboration for organizations everywhere.”
According to the release, VidGrid has worked with Paylocity for several years to develop a learning management system (LMS) for the cloud-based HR and payroll company’s clients. The LMS has been successful, according to Paylocity, because of increased demand for video communication.
“As part of our product expansion, we introduced our Learning Management System (LMS) and worked with VidGrid to provide learning opportunities that the modern workforce expects,” Steve Beauchamp, CEO of Paylocity, said in the release. “VidGrid’s approach aligns with our culture of caring deeply for our clients and we couldn’t be more excited to welcome their talented and innovative team to Paylocity.”
Founded in 2012, VidGrid (formerly ilos) raised around $3 million across a series of seed rounds from 2015 to 2017.
Sean Higgins, a founder of the company (now the CEO of BetterYou), weighed in on protecting your time against the grind in our latest Work Well.