Owl Labs has raised $25 million in a Series C investment and announced a strategic partnership with HP.
The US-based company, which was the first to build AI-powered 360° video conferencing solutions, will use the funding to support product development and to increase global adoption of its products. The investment takes its total funding to more than $47 million.
HP will collaborate with Owl Labs to continue its growth, invest in its hardware and software offerings, expand its global footprint and deepen go-to-market partnerships. A commercial agreement between Owl Labs and HP France will see HP launch Owl Labs’ products with its local sales teams.
Owl Labs chief executive Frank Weishaupt said more than 130,000 organisations are using Owl Labs products, which include the Meeting Owl range and the Whiteboard Owl.
“We believe the workplace will never be the same as it was pre-pandemic, and HP has clearly shown a commitment to transforming it to a hybrid model – not only through its release of HP Presence, but also through its acquisition of Poly and other investments in the space,” said Weishaupt. “This strategic partnership will help us grow even faster and ensure that we continue to maintain our pace-setting lead on product development.
Angelo Del Priore, a partner at HP Tech Ventures said: “Investing in Owl Labs aligns with HP’s strategy to deliver more inclusive and immersive hybrid work solutions to our customers.”
HP recently acquired Poly, which offers a range of video and audio devices for virtual conferencing. Weishaupt said Poly’s products are complementary to Owl Labs’ and highlighted HP’s commitment to transforming the workplace to a hybrid model.