Highfive raises $32M Series C for its video conferencing platform

Startups


Highfive, a startup that’s building an integrated software and hardware video conferencing solution, today announced that it has raised a $32 million Series C round, which brings the Redwood City-based company’s total funding to $77.4 million. The lead investor for this round was Dimension Data, a major global technology integrator and managed services subsidiary of Japan’s NTT Group. Existing investors Lightspeed, General Catalyst and Andreessen Horowitz also participated in this round.

Highfive tells us that its annual recurring revenue grew by over 100 percent in the last year and that its users now hold more than 140,000 meetings that last a total of 16 million minutes per month. Current Highfive users include Paperless Post, The Atlantic, Warby Parker, and the Girl Scouts of Northern California.

The most interesting investor here is Dimension Data. Besides its cloud computing, security and various managed services offerings, Dimension also focuses on helping business set up their conferencing services. As such, its focus is mostly on Cisco’s services, but it also works with Polycom, Avaya and Microsoft. What’s most important for Highfive here, though, is that it also signed a global distribution deal with Dimension data — and to support that, Highfive has scaled its global data center presence to 18 AWS regions around the world.

“Our growth reflects the continued need for video conferencing that’s easy-to-use and deployable across every meeting room,” said Shan Sinha, Co-Founder and CEO of Highfive, in today’s announcement. “With Dimension Data’s thirty years of industry experience, we see the company’s investment as validation for what we’ve built at Highfive, and our vision for how we can make companies work better together.”

Highfive will use the new funding to scale its sales and marketing teams and fuel its global expansion.

Source

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