Highfive, a Redwood City, CA-based provider of video conferencing device and cloud software built for businesses, secured $32m in series B funding.
The round, which has raised a total of $45.4m, was led by new investor Lightspeed Venture Partners with participation from existing investors Andreessen Horowitz, General Catalyst, Google Ventures, SV Angel, Aaron Levie (Box), Drew Houston (Dropbox), Marc Benioff (Salesforce.com) and Shishir Mehrotra (YouTube).
THe company intends to use the funds to double their team of 50 employees this year to support engineering, sales and marketing focusing on improving the experience for their customers and introducing new features.
Led by Shan Sinha, CEO and co-founder, Highfive makes video conferencing hardware and cloud software. Its flagship product is a video hardware device, which delivers enterprise video conferencing to any size conference room at 1/20th the cost of traditional products. The company also provides web conferencing and screen sharing functionality for their personal devices, which gives customers the ability to make video calls and share their screens from their laptops, tablets, and mobile devices.
Users include Patagonia, Slack, Zenefits and Warby Parker.