OpenExchange Inc. Issued Key Patent for Video Call Logic

Patent covers video call logic that is a game changer for secure videoconferencing in the financial services industry. OpenExchange also adds Citi as its latest strategic investor.

BOSTON--()--OpenExchange Inc. announced today the issuance to it by the US Patent Office of a patent that covers the video call logic which combines authentication and personalized endpoints to create a secure virtual meeting process that satisfies the rigorous demands of the financial services industry.

“This patent provides the ability for virtual meetings to take place in a secure and compliant manner from a wide range of video endpoints across a range of equipment providers. Our call logic creates a dynamic virtual meeting room that ensures access to only authenticated participants”

The patent for invention number 9,131,111 covers videoconferencing architecture that connects various external parties and codecs by establishing outgoing connections from a virtual meeting room to designated video endpoints. Combined with the OpenExchange web application connecting financial professionals from over 350 global firms to its video exchange, this video call logic provides the security that financial services firms demand in today’s business environment.

“This patent provides the ability for virtual meetings to take place in a secure and compliant manner from a wide range of video endpoints across a range of equipment providers. Our call logic creates a dynamic virtual meeting room that ensures access to only authenticated participants,” commented Mark Loehr, OpenExchange Chief Executive Officer.

Contemporaneous with the patent approval, OpenExchange recently completed a round of funding, with Citi as one of its newest strategic investors. Funding to date has come from multiple sources, including Barclays Electronic Commerce Holdings and Ipreo LLC. The company plans to use latest round of capital to expand and support its growing list of clients and their use cases for video conferencing in the capital markets sector.

“We are pleased to extend our relationship with Citi from being a key client to becoming an important strategic investor. Citi has been a leader in utilizing its video conferencing infrastructure to connect its broad range of content with key clients around the world. The firm has been strategic in expanding its Corporate Access and Analyst Marketing efforts into more markets and better servicing public and private companies by utilizing the OpenExchange platform,” said Mark Loehr.

OpenExchange has seen a significant increase in a new use case for video conferencing, known as Virtual Group Meetings. These meetings can connect C-Suite professionals from Fortune 500 companies to as many as 20 different global money managers simultaneously using OpenExchange’s proprietary multi-point video call logic. These Virtual Group Meetings have been the catalyst for the growth in OpenExchange’s community of connected participants and are a growing and popular format that efficiently utilizes management’s time. OpenExchange has experienced over 120% growth in its meetings year-to-date versus the same period a year ago. Additionally, over 70% of the meetings taking place on OpenExchange have at least one participant from outside the host’s country, indicating the value this platform can play in cross border discussions.

“As our business continues to grow, it is critical that we stay ahead of the demand and needs of our users. Virtual meetings are becoming commonly more global in nature. It is our mission at OpenExchange to help make communication between Corporates, Sell side firms and investors more timely, effective and engaging. Our recently issued patent and new funding will allow us to take OpenExchange to the next level and expand the number of video meetings exponentially,” said Mark Loehr.

About OpenExchange

OpenExchange is a community based video exchange that enhances interaction within the financial community. Our solution enables financial services professionals to communicate more effectively with each other using their existing video infrastructure. By using OpenExchange, the buy-side, sell-side and corporate issuers can arrange and conduct one-on-one and group meetings using secure, private, high quality video. Citi, Barclays Electronic Commerce Holdings and Ipreo LLC are strategic owners of OpenExchange.

To learn more, visit www.openexc.com

Contacts

OpenExchange Inc.
Nicole Maselli, 617-600-6273
nicole@openexc.com

Release Summary

OpenExchange issued key patent for video call logic that is a game changer for secure videoconferencing in the financial services industry. OpenExchange adds Citi as its latest strategic investor.

OpenExchange Inc.