Qumu Announces New Customers, Partner Traction and Platform Expansion

Rhea-AI Summary

Qumu Corporation (Nasdaq: QUMU) announced significant growth in the first quarter of 2022, securing new customers and expanding existing contracts in the United States, Asia-Pacific, and EMEA regions.

This growth includes notable clients from the automotive, energy, and financial sectors, contributing to nearly one million new users on the Qumu Video Engagement Platform. Qumu attributes this success to strategic collaborations and a growing demand for secure video solutions in the hybrid work environment.

Positive

• Secured new large enterprise customers across multiple sectors, including automotive and energy.
• Added nearly one million new users to the Qumu Video Engagement Platform in Q1 2022.
• Strong momentum in expanding the usage of cloud-based video solutions.

Negative

• None.

More Organizations Deploy Qumu to Support Employee Engagement and Secure Video Streaming

MINNEAPOLIS--(BUSINESS WIRE)-- Qumu Corporation (Nasdaq: QUMU), a leading provider of cloud-based enterprise video technology, today announced the closing of new business and key expansions in the first quarter of 2022. These wins mark the company’s new customer and expansion sales to large enterprises located in the United States, Asia-Pacific and EMEA.

Qumu’s recent wins span a variety of use cases, serviced by cloud and hybrid solutions. A few of the company’s more notable new customers include a prominent global automaker and mobility provider, a leading multinational energy company, and top banking and financial companies. These great wins are the result of laser-focused strategies and collaboration with partners including Kollective, BT, Socialive, and LiveU, among others.

During the first quarter of 2022, Qumu also expanded the use of the Qumu Video Engagement Platform in key accounts in the healthcare and manufacturing industries, including a transition from on-prem to cloud and user expansion with one of the largest automakers in the United States. Qumu signed new and expansion agreements for asynchronous video deployments, which added nearly a million new users to the platform in the quarter.

“Qumu sees continued momentum with large enterprises deploying our video engagement platform. Leading organizations recognize that today’s environment requires reliable, flexible, secure and scalable video communications to help them accelerate their digital transformation efforts. It’s rewarding to be part of their video strategy in this new era of hybrid work,” said TJ Kennedy, CEO and President of Qumu. “This last quarter represents our execution against our strategy around customers, product adoption & innovation and partners. We expect our strategy to gain momentum in future quarters as we continue to deliver the kinds of customer wins we experienced in the first quarter.”

For more information about Qumu, visit Qumu.com.

About Qumu Corporation

Qumu (Nasdaq: QUMU) is a leading provider of best-in-class tools to create, control, deliver, experience and analyze live and asynchronous video at scale. Backed by an experienced team of software and video experts, Qumu’s software enables globally distributed organizations to drive employee, customer and partner engagement, modernizing business by providing more efficient and effective ways to communicate and collaborate.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220411005181/en/

Qumu Media Contact:

Ashley Paula-Legge

Big Valley Marketing for Qumu

alegge@bigvalley.co

+1 707-972-0073

Qumu Investor Contact:

Matt Glover or Tom Colton

Gateway Investor Relations

QUMU@gatewayir.com

+1 949-574-3860

Source: Qumu Corporation

FAQ

What recent business developments occurred for Qumu in Q1 2022?

Qumu secured new customers and expanded existing contracts, adding nearly one million users to its video platform.

Which industries are Qumu's new customers from?

New customers include companies from the automotive, energy, and banking sectors.

What regions are involved in Qumu's recent business growth?

Qumu's growth spans the United States, Asia-Pacific, and EMEA regions.

What is the significance of the recent customer wins for Qumu?

The new contracts indicate strong demand for Qumu's secure video solutions in hybrid work environments.

How is Qumu adapting to the current market environment?

Qumu is focusing on cloud-based video solutions to meet the growing demand for digital transformation.