Boston-based Owl Labs, a provider of AI-powered 360-degree video conferencing solutions, has secured $25 million in a Series C funding round led by HP Tech Ventures. The startup also announced a strategic partnership with HP.
The Series C financing round also witnessed participation from Owl Labs’ strategic partner in Japan, Sourcenext, along with existing investors Matrix Partners, Spark Capital, and Playground Global.
The US-based company will use the funding to support product development and increase its products’ global adoption. The investment takes its total funding to more than $47 million.
“Owl Labs was founded in 2014, based on emerging trends in remote collaboration – when the pandemic began six years later, the instant, worldwide adoption of distributed work kickstarted a paradigm shift that accelerated our growth by 7X in the past few years,” said CEO Frank Weishaupt.
The Meeting Owl 3 is the most recent item in the company’s line of premier products. Its products are used by more than 130,000 organizations worldwide, including 84 Fortune 100 firms, to ensure fairness in hybrid meetings between participants who are present in person and those who are participating virtually.
HP will collaborate with Owl Labs to continue its growth
HP will work with Owl Labs to expand its global footprint, invest in hardware and software offerings, and deepen go-to-market partnerships. The Boston-based startup and HP France have reached a commercial agreement under which HP will launch Owl Labs’ products through its local sales teams.
The startup has been expanding globally since 2020, with significant sales and adoption in key European markets, including France, with high growth potential.
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,” he added.
HP recently acquired Poly, which provides video and audio devices for virtual conferencing. Weishaupt stated that Poly’s products complemented those of Owl Labs and emphasized HP’s commitment to transforming the workplace into a hybrid model.
“Investing in Owl Labs aligns with HP’s strategy to deliver more inclusive and immersive hybrid work solutions to our customers,” said Angelo Del Priore, Partner at HP Tech Ventures.