Trending: Will the new capital gains tax cause businesses to leave Washington state?
(Panopto Image)

Seattle-based enterprise video platform Panopto has acquired Syracuse, N.Y.-based Ensemble Video, which also operates a platform to help customers manage and publish video content.

Ensemble launched in 2005 after a group of Syracuse University employees came up with a new way to manage video content for the institution. It mainly works with K-12, higher education, and enterprise customers.

Panopto, founded in 2007, first targeted universities that wanted a way to capture, store, stream, and sort through videos of lectures. It later found demand in enterprise video content management — organizations ranging from financial institutions to appliance manufacturers that wanted a way to manage videos and slides for training, events, sales, marketing, and more.

Panopto said its annual recurring revenue increased more than 40% in 2020. The company’s ARR is now $50 million. Panopto CEO Eric Burns said “the use of on-demand video for communication and learning has grown rapidly over the last year.”

Ensemble customers will migrate to Panopto later this year; for now the companies will remain separate brands and platforms. Terms of the deal were not disclosed. The companies declined to provide details about employee counts.

Like what you're reading? Subscribe to GeekWire's free newsletters to catch every headline

Job Listings on GeekWork

Software Engineer III – DevOpsNational Center for Atmospheric Research (NCAR)
Technology Services SpecialistGlobal Innovation Exchange, University of Washington
Find more jobs on GeekWork. Employers, post a job here.