New Round of Funding to Fuel Rapid Growth for High Definition Video Communications Pioneer
Lifesize, the high definition video communications company, today announced that it has raised $25 million in Series D financing led by Lehman Brothers Venture Partners. The Series D round includes Lifesize’s current investors Austin Ventures, Norwest Venture Partners, Redpoint Ventures, Sutter Hill Ventures and Pinnacle Ventures. The company also announced the addition of Brian Paul, managing director at Lehman Brothers Venture Partners, to the Lifesize board of directors.
“Lifesize is proving that high definition video communications can make a difference in the way companies conduct business around the world,” said Brian Paul, managing director at Lehman Brothers Venture Partners. “We believe the company is extremely well positioned to shape the future of the industry and be a strong technology leader in the market.”
The Lifesize high definition product suite, with its patent-pending industrial design and high definition technology, offers the very best price-to-performance value available on the market. By delivering better video quality at any bandwidth, Lifesize enables all types of businesses to benefit from a greatly enhanced user experience through more effective communications.
“This is an exciting time for Lifesize as we have now shipped over 1000 high definition video communications systems, established a solid distribution channel and expanded our global operations around the world” said Craig Malloy, CEO of Lifesize. “With this new round of financing, we will further advance our market position by accelerating our development, operations and sales efforts to become the undisputed industry leader.”
In the past, businesses either tolerated sub-optimal videoconferencing solutions based on quality and reliability constraints or stayed completely away from them given the inability to substantiate any significant returns against their investments. Lifesize’s innovative product suite has changed the videoconferencing landscape allowing organizations of all sizes to benefit from high definition video communications. No longer is quality, simplicity, manageability, interoperability or cost a negating factor – now many new videoconferencing users and practical applications are emerging, thus positively impacting overall market potential.