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Owl Labs raises $25 million in Collection C funding spherical led by HP Tech Ventures

Right now, we’re proud to announce a $25 million Collection C funding and a strategic partnership with HP, bringing our firm’s whole funding to over $47 million. The funding spherical was led by HP Tech Ventures, the enterprise capital arm of HP Inc., and Angelo Del Priore, Companion at HP Tech Ventures, has joined Owl Labs’ board of administrators. Owl Labs’ strategic companion in Japan, Sourcenext, additionally participated on this spherical, together with current traders Matrix Companions, Spark Capital, and Playground World.

We’ll use the brand new funding to help product growth and improve international adoption of the corporate’s merchandise, together with the Assembly Owl product line, the primary AI-powered, 360-degree digital camera, microphone, and speaker that mechanically zooms in on whoever’s talking; Whiteboard Owl, a devoted digital camera that provides any in-room whiteboard to video conferences; and Assembly HQ, an in-room pc and management middle for video conferences. We just lately launched the most recent system in its flagship product line, the Assembly Owl 3. Greater than 130,000 organizations globally, together with 84 Fortune 100 corporations, use Owl Labs merchandise to make sure a stage enjoying discipline between in-person and distant contributors in hybrid conferences. 

HP will collaborate with Owl Labs to proceed its accelerated progress, put money into its {hardware} and software program choices, increase its international footprint and deepen go-to-market partnerships beginning with a industrial settlement between Owl Labs and HP France, the place HP will launch Owl Labs’ merchandise in-market with their native gross sales groups. HP will present gross sales protection and outreach with enterprise corporations and additional deepen the corporate’s relationships with small companies and academic establishments via Owl Labs merchandise. Owl Labs has been increasing globally since 2020 with important gross sales and adoption in key European markets, with France being a high-potential progress market. 

In a world the place 98% of conferences have at the least one distant participant however solely 8% of the 89 million assembly rooms on the planet are wired for video conferencing, Owl Labs gadgets make it attainable for employees to speak and collaborate irrespective of the place they’re. That is extra obligatory than ever, as an Owl Labs examine discovered that greater than 3/4 of workers (78%) wish to have a hybrid or distant working fashion, but solely 36% mentioned their employers have upgraded their video know-how to permit for extra hybrid collaboration. 

“Owl Labs was based in 2014, based mostly on rising tendencies in distant collaboration – when the pandemic started six years later, the moment, worldwide adoption of distributed work kickstarted a paradigm shift that accelerated our progress by 7X prior to now few years,” mentioned Frank Weishaupt, CEO of Owl Labs. “We’re deliberate about what corporations we forge relationships with, and we’re thrilled to companion with HP, an business chief within the hybrid work know-how house, with a mission that’s carefully aligned with ours. We imagine the office won’t ever be the identical because it was pre-pandemic, and HP has clearly proven a dedication to remodeling it to a hybrid mannequin – not solely via its personal launch of HP Presence, but in addition via its acquisition of Poly and different investments within the house. This strategic partnership will assist us develop even quicker and be sure that we proceed to take care of our pace-setting lead on product growth.”

“Investing in Owl Labs aligns with HP’s technique to ship extra inclusive and immersive hybrid work options to our prospects,” mentioned Angelo Del Priore, Companion at HP Tech Ventures. “We’ve got been impressed by Owl Labs’ spirit of innovation and skill to disrupt. We see a shiny future for Owl Labs as secular tendencies in hybrid work present fertile alternatives for continued innovation, disruption, and progress.”

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