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Dimension Data leads round with participation from Lightspeed Venture Partners, General Catalyst, and Andreessen Horowitz

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| Source: Highfive

REDWOOD CITY, Calif., Feb. 07, 2018 (GLOBE NEWSWIRE) -- Highfive , the company delivering insanely easy video conferencing, today announced that it has raised $32 million in Series C funding, bringing its total funding to US $77.4 million.

The round was led by Dimension Data, the US $8 billion global technology integrator and managed services subsidiary of the NTT Group. Existing investors Lightspeed, General Catalyst, and Andreessen Horowitz also participated in the round. Highfive will use the funding to scale its sales and marketing teams and expand its business across the globe.

Dimension Data’s investment follows the completion of a strategic global distribution deal with Highfive, which expands its portfolio of collaboration solutions it already provides to its client base with partners including Cisco, Polycom, Avaya, and Microsoft.

In addition to establishing a global distribution channel with Dimension Data, Highfive has also scaled up its worldwide data center footprint using the AWS Cloud to support its growing list of international customers with data centers in 18 geographic regions around the world.

Joe Manuele, Group Executive Vice President of Customer Experience and Collaboration at Dimension Data, who has joined Highfive's board said, “Dimension Data’s footprint of collaboration clients across the globe gives us a unique view of the evolution of the market. We recognize a huge opportunity to grow the video conferencing addressable market by leveraging innovative cloud based solutions.

“Highfive’s all-in-one solution solves an important challenge towards video conferencing ubiquity. We’re pleased to be an investor and we’re looking forward to delivering the solution to our clients as part of our distribution partnership,” Manuele said.

The new round of financing comes as Highfive grows its annual recurring revenue (ARR) by more than 100% and accelerates its product development. Highfive’s ongoing product updates are driving customer satisfaction and usage to all-time highs, with more than 140,000 meetings per month accounting for roughly 16 million minutes. The company’s customer base, one of the fastest-growing in the industry, continues to expand with companies that include Paperless Post, The Hustle, Bankrate and The Atlantic, who join existing customers like Warby Parker, Harry's, Expensify, and the Girl Scouts of Northern California.

- Miguel Espinosa, IT Manager

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Walk by any of our conference rooms, and in the majority of them someone’s using Highfive to present to people in the room or to talk with team members remotely.

- Matthew Anderson, IT Associate

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Each device delivers HD video and high-fidelity audio. Installation is easy and straightforward. The interface is intuitive. There are no extra cables or wires.

- Matt McNamara, Director of Engineering

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A high-definition system for conference rooms that’s much cheaper—and much easier to use—than gear from the Ciscos and the Polycoms.

Cade Metz

Just used our @HighfiveHQ units for our company meeting @SmarterHQ – worked perfectly. Well done on this product!

@OsborneOsborne

Each device delivers HD video and high-fidelity audio. Installation is easy and straightforward. The interface is intuitive. There are no extra cables or wires.

Matt Villano

A high-definition system for conference rooms that’s much cheaper—and much easier to use—than gear from the Ciscos and the Polycoms.

Cade Metz

Just used our @HighfiveHQ units for our company meeting @SmarterHQ – worked perfectly. Well done on this product!

@OsborneOsborne

Instead of having to create a meeting, dial in and fumble with cords, anybody who wants to can join a call right away in a few clicks… it’s just a better way of doing meetings.

- Todd Rubel, Director of Technology Systems

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We no longer use landlines for our company… They’re outdated, and if you’re going to have a conversation, it needs to be face-to-face.

- Dana Gould, Project Manager

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Since using Highfive, we’ve really been able to bridge the cultural gap between our two offices, and that’s not something we’ve seen with any of the other software that we’ve been using.

- Aaron VanderGalien, Senior Partner

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[Before Highfive], we were using software-only solutions that had an unpolished and amateur feel. We wanted a dedicated, professional tool that we could build upon instead of a utility we had to work around, and Highfive delivered that.

- Jeremiah Renfro, Managing Director of Core Systems

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Chapter

Abstract

As mentioned in Chapter 23, there is a persistent fallacy within many organizations and certainly with regard to the adoption of technology in the organization that, to paraphrase the 1989 film Field of Dreams : “if you build it, they will come”. This was true in the early days of the world-wide web when organizations would create websites assuming their offline customers would come online. This was true during the dotcom boom when numerous start-ups created businesses based on the idea that they would generate thousands or millions of web visitors to view their unique content and that, therefore, they would be able to sell multiple advertising spaces to fund the start-up. This is true in the age of social technologies when organizations create Facebook pages assuming their customers will “Like” the page, which will somehow generate direct or indirect benefits for the company. This is true of organizations that create Twitter accounts and Tweet information on behalf of the company (be it special offers, announcing new content, or responding to customer queries) but don’t have a plan on how to get their customers (existing or potential) to follow their Twitter feed and actually experience the Tweets. This is true of the organizations that pay tens of thousands to create apps, which don’t get downloaded by their target audience.

These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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