Growth milestone highlights Lifesize’s continued momentum and innovation in rapidly-growing video communication and collaboration market
London, April 4, 2019 — Lifesize®, a global innovator of video collaboration and meeting productivity solutions, announced today it has surpassed $100 million in bookings with an 80 percent compound annual growth rate (CAGR) for annual recurring revenue (ARR) over the last four years. Demand for the company’s market-leading video conferencing solutions, growing partner ecosystem and consistently high customer satisfaction spurred growth both domestically and internationally.
According to MarketsandMarkets, the global enterprise collaboration market is expected to reach £45 billion by 2023. As demand for video conferencing and collaboration solutions reaches an all-time high among businesses, Lifesize has established itself as a leader in a competitive collaboration technology industry, supporting large global brands such as Netflix, Yelp and LinkedIn, as well as tens of thousands of small and mid-sized businesses.
Additional growth drivers include:
- 60 percent of revenue generated from outside of the Americas
- Enterprise customers grew 62 percent year over year
- More than 3,500 global partners, distributors and resellers, including more than 400 new Lifesize partners added since January 2018
- First 4K cloud-based video conferencing solution launched in Q4 2018
- Industry-leading 2018 NPS score of 84
Introduced in 2014 and used by thousands of organizations around the world, Lifesize’s cloud-based video conferencing solutions provide video, audio and web conferencing for one-to-one and one-to-many meetings. Built on WebRTC and open standards, Lifesize customers can easily connect and collaborate using native apps for iOS, Android, Windows, and Mac operating systems, or directly through the browser with a reliable, intuitive interface.
“Organizations large and small are increasingly investing in video conferencing and digital collaboration technologies because these solutions are how business gets done today,” said Craig Malloy, Lifesize CEO. “Lifesize is the only vendor providing end-to-end 4K video conferencing with 4K content for boardrooms, huddle rooms and everything in between. Our vision for the connected enterprise is based on our commitment to the whole meeting experience. With 4K-quality video technology built on a cloud platform, we deliver a demonstrably superior and intuitive collaboration experience that customers love.”
The latest growth milestone follows several major announcements and innovations from Lifesize, including the launch of the company’s new line of 4K-quality Icon meeting room solutions and new integrations with Amazon Chime, Kaptivo, and ScreenCloud. For more information, visit Lifesize.com.
Lifesize combines best-in-class, cloud-based video conferencing services with integrated equipment that sets a new standard for workplace communication and productivity on a global scale. Recognized as Frost & Sullivan’s Cloud Video Conferencing Vendor of the Year, Lifesize leads the industry in customer satisfaction with the world’s first 4K video conferencing solution and 4K service architecture, designed and engineered from its headquarters in Austin, TX. To see why companies like Yelp, Netflix and Major League Baseball rely on Lifesize for their mission-critical team communication, visit www.lifesize.com or follow the company @Lifesize.