Owl Labs, a Boston, MA-based AI-powered 360-degree video conferencing solution, announced that it raised $25 million in Series C investment and formed a strategic partnership with HP, bringing the company’s total funding to over $47 million.
The funding round was led by HP Tech Ventures, the venture capital arm of HP Inc., with participation from Sourcenext and existing investors Matrix Partners, Spark Capital, and Playground Global.
Owl Labs will use the new funding to support product development and increase global adoption of the company’s products, including the Meeting Owl® product line, the first AI-powered, 360-degree camera, microphone, and speaker that automatically zooms in on whoever’s speaking; Whiteboard OwlTM, a dedicated camera that adds any in-room whiteboard to video conferences; and Meeting HQTM, an in-room computer, and control center for video meetings.
“Owl Labs was founded in 2014, based on emerging trends in remote collaboration – when the pandemic began six years later, the instant, worldwide adoption of distributed work kickstarted a paradigm shift that accelerated our growth by 7X in the past few years,” said Frank Weishaupt, CEO of Owl Labs. “We are deliberate about what companies we forge relationships with, and we are thrilled to partner with HP, an industry leader in the hybrid work technology space with a mission that’s closely aligned with ours. We believe the workplace will never be the same as it was pre-pandemic, and HP has clearly shown a commitment to transforming it to a hybrid model – not only through its own release of HP Presence, but also through its acquisition of Poly and other investments in the space. This strategic partnership will help us grow even faster and ensure that we continue to maintain our pace-setting lead on product development.”
The company recently launched the latest device in its flagship product line, the Meeting Owl 3. More than 130,000 organizations globally, including 84 Fortune 100 companies, use Owl Labs products to ensure a level playing field between in-person and remote participants in hybrid meetings.
Angelo Del Priore, Partner at HP Tech Ventures, has joined Owl Labs’ board of directors.
Company: Owl Labs Inc.
Raised: $25.0M
Round: Series C
Funding Month: November 2022
Lead Investors: HP Tech Ventures
Additional Investors:
Company Website: https://owllabs.com/
Software Category: AI-powered, 360-degree Video Conferencing Solutions
About the Company: Founded in 2014, Owl Labs is the first company to build AI-powered, 360-degree video conferencing solutions for hybrid organizations. Its suite of products makes meetings more inclusive and collaborative by leveling the playing field between remote and in-room participants. The company’s flagship product, the Meeting Owl® 3, is the first WiFi-enabled, 360-degree camera, microphone, and speaker that automatically zooms in on whoever’s speaking. Owl Labs has been expanding globally since 2020 with significant sales and adoption in key European markets, with France being a high-potential growth market. Owl Labs is based in Boston, with remote and hybrid employees all over the world.
Source: https://www.businesswire.com/news/home/20221114005282/en/Owl-Labs-Raises-25-Million-in-Series-C-Funding-Round-Led-by-HP-Tech-Ventures