Video communication tools are nothing new, But the last few months have changed it from an optional tool to an essential one, helping to keep companies running remotely. Fortunately, there are numerous video conferencing software in the market right now.
Paris-based Livestorm is one of them. It is a browser-based video communication platform that connects teams to promote, host, and analyse online events.
Recently, the company has raised a $30M (approx €25.3M) Series B funding round to accelerate product development and its expansion into North America. The round was led by Aglaé Ventures and Bpifrance Digital Venture, with participation from Raise Ventures and IDInvest. To date, the company has raised $35M (approx €30M).
“We’ll be using this latest funding round to develop new features and functionalities to support larger companies. We will create an ecosystem of integrations entirely dedicated to video communication,” the company mentions in a blog post.
It also plans to rapidly increase its marketing presence and scale its go-to-market strategies toward mid-market and enterprise clients in Europe and the United States, while hiring aggressively globally.
Manages online events from end-to-end
Founded in 2016 by Gilles Bertaux, Robin Lambert, Tom Forlini, and Vincent Garreau, the French startup allows businesses to host meetings, webinars, or events with two to thousands of people completely in a mobile or desktop browser. Notably, the company manages online events right from promotion and registration to post-event ROI analysis.
How was Livestorm born?
Livestorm co-founder and CEO Gilles Bertaux, while working for a marketing group, found himself struggling to promote and measure ROI for online events. According to Bertaux, he was spending most of his time creating landing pages, promoting events, and troubleshooting attendees’ connection issues and did not have the means to connect online events to real business outcomes. And that’s how Livestorm was created.
Addresses four main issues
According to the company, it addresses four main issues that have plagued other online meeting and event platforms such as Zoom, Microsoft Teams, and GoToWebinar – user experience and complexity, event set up in minutes not hours, capturing event data to leverage for future marketing, and security.
Since the last funding, Livestorm claims to have grown its revenue by 8x and tripled its headcount to 50+. Right now, about one-third of the company’s customers are in the US. More than 3,500 companies from startups to Fortune 500 companies rely on Livestorm, including brands such as Shopify, Honda, Spendesk, Front, Sephora, and Revolut.
The company is planning to triple its headcount hiring 100 more professionals across engineering, sales, support, and marketing in 2021.
“We are ramping up our U.S. presence quickly,” said Bertaux, “to take advantage of all the demand.”
Main image credits: Livestorm