Lifesize Splits from Logitech

Lifesize and Logitech have parted ways and Lifesize is operating as an independent company. The company has received $17.5 million in funding from three prominent Silicon Valley venture firms – Redpoint Ventures, Sutter Hill Ventures and Meritech Capital Partners and is meeting the challenge of $7 billion global conferencing market head-on. Logitech will retain a meaningful interest in Lifesize moving forward.

Over the past one and a half year, Lifesize has kept at pace with the changing video collaboration and meeting platform market and has shown strong growth. The company pivoted its business through the combined launch of Lifesize Cloud – its cloud-based video collaboration service – and the industry’s first integrated approach to connected cameras and HD phones.

“This is an exciting step for Lifesize and is the result of the tremendous work we have done to create a unique offering in the video conferencing and collaboration space,” said Craig Malloy, CEO and founder of Lifesize. “We have a 12-year heritage of leadership and industry innovation and a strong executive team in place. Standing as an independent company will allow us to invest more meaningfully in our product roadmap and be more responsive to the market and our customers, which puts Lifesize on a path for impressive growth and success.”

Lifesize’s video-based communication and collaboration technologies are top-notch in meeting the intense demands of today’s world. it has also made itself accessible to businesses of any size. Traditionally, enterprises had to buy separate solutions for the conference room camera, bridging equipment, video conferencing, and sharing presentations. Lifesize has come up with a combined solution for all of those functions, and more, into one integrated service. The company’s focus remains on developing market-leading technology that delivers easy-to-use and scalable video communications to every person and every conference room in an organization. The combination of features, such as chat and recording into one application, are intuitive and custom-built to meet customer needs. Since the launch of Lifesize Cloud, the company has added more than 2,000 paid customers – including Twilio, Survey Monkey, Omnicom Group and Evolution Gaming – to the service.

“Together with our three co-investors, we determined that the capital, SaaS industry expertise and growth-focused approach would be key ingredients to realizing tremendous long-term value,” said Guerrino De Luca, Logitech chairman. “Logitech looks forward to participating in the journey.”