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LifeSize¢â Secures $17.5 Million in Series C Financing |
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Funding to Fuel Worldwide Expansion of Sales, Marketing and Business Operations
LifeSize, the high definition video communications company, today announced that it has raised $17.5 million in Series C financing, bringing the company's total funding to date to $56 million. The Series C round includes LifeSize's current investors Austin Ventures, Norwest Venture Partners, Redpoint Ventures and Sutter Hill Ventures, as well as the addition of Pinnacle Ventures.
"LifeSize has demonstrated the unprecedented ability to revolutionize an industry that has seen little innovation in the past decade," said Vab Goel, venture partner at Norwest Venture Partners. "Like the other LifeSize investors, we believe the company is extremely well positioned to maximize growth and opportunity in the video communications market for many years to come."
The LifeSize high definition product suite, which analysts call "a quantum leap in capabilities for users of video communications," provides nearly 10 times the quality of existing solutions and unparalleled simplicity for the end user and IT manager. Unlike traditional videoconferencing solutions, LifeSize products deliver crystal clear video clarity and high fidelity audio so users benefit from a productive, true-to-life experience.
"Having just released our flagship high definition video communications product, LifeSize Room, we are now ready to embark on the next phase of the company's growth" said Craig Malloy, CEO of LifeSize. "With this new round of financing we will further advance our market position by expanding our corporate infrastructure and investing in operations, demand generation and support programs for all our channel partners around the world."
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| [AUSTIN, TX - December 20, 2005] |
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About LifeSize
LifeSize is the high definition video communications company. Founded in 2003 by industry veterans, LifeSize is changing the way people around the world are conducting business with a fully encompassing product offering that combines exceptional quality, user simplicity and administrator manageability to make video communications a productive, true-to-life experience. LifeSize is privately-held and headquartered in Austin, TX with international subsidiaries in the U.K. and Hong Kong.
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