Highfive builds an integrated software and hardware video conferencing solution for business meetings. Its current customers include Paperless Post, The Atlantic, Warby Parker, and the Girl Scouts of Northern California. The company reports annual recurring revenue grew by over 100% in the last year. Users hold more than 140,000 meetings that total 16 million minutes per month. Highfive has expanded its global data center presence to 18 AWS regions to support growth and distribution. The company will use the new funding to scale sales and marketing and fuel global expansion. Highfive builds an $800 video conferencing unit that connects to any TV and includes a 1080p camera, a high-fidelity mic array, and a wireless chip, paired with cloud-based conferencing that streams to desktops, tablets, and mobile devices. The system is designed to make it easy to equip conference rooms for video meetings. Early traction has been strong: more than 500 companies signed up in the first 90 days, including Patagonia, Slack, Warby Parker, and Zenefits. Of registered users, 80% use Highfive weekly, and the company was on pace to stream more than a million minutes of video per week within its first six months. Founded in 2012, Highfive has raised more than $45 million to date and is using new funding to scale. With the new capital, Highfive plans to double its workforce from about 50 to 100 by year-end and invest heavily in engineering, sales, and marketing. Highfive is developing a new mode of enterprise communication that runs on desktop, web and mobile and aims to simplify how distributed teams share information. The company is currently in beta and has signed up several enterprise clients who are paying for the product while it is being validated. Highfive plans a public launch in mid-2014 and is using its beta customers to refine the product. The team is about 25 employees and is aggressively hiring to double headcount over the next six months across engineering, sales and support. The founders, Shan Sinha and Jeremy Roy, previously built Docverse and sold it to Google; that pedigree is cited as part of the company’s credentials. Financially, Highfive has raised a total of $13.5 million to date and is funding its growth through that capital and customer payments.

Total raised

$74M

Funding rounds

3

Latest round

Series C

Latest activity

Feb 2018