Owl Labs is a Boston-based startup that builds AI-powered 360° video conferencing solutions. The company received $25 million in funding after a Series C round led by HP Tech Ventures, the venture capital arm of HP Inc.
Additional investors included Matrix Partners, Spark Capital and Playground Global— all of whom backed Lumafield and ELISE. Additionally, Japan’s Sourcenext invested in the companies listed above.
As a result of an agreement between Owl Labs and HP, a member of the board of directors named Angelo Del Priore is a member of the company funded by the partnership. HP Tech Ventures also has a partnership with Owl Labs.
The latest round of funding reached $47 million as a whole.
The new funding will give the company more resources to create new products and help them become more popular around the world. These include Meeting Owl, Whiteboard Owl and Meeting HQ.
The companies flagship product line is Meeting Owl 3. The company recently released this product, which makes it easier for companies to hold hybrid meetings with participants who are both in the same location and remote. Over 130,000 organizations use Meeting Owl 3 products; 84 Fortune 100 companies do so.
Partnership With HP
HP is currently working with Owl Labs to continue rapid growth. Its partnership with the company will grant them access to the software and hardware creations as well as increased commercial collaborations. Additionally, HP’s French branch will sell Owl Labs’ products through their local sales teams.
HP will work with larger organizations and provide business outreach thanks to Owl Labs’ products. Connections with educational institutions and small businesses will be further deepened thanks to this effort.
How Was Owl Labs Born?
In 2014, Mark Schnittman worked for a Las Vegas startup while living in Boston. Max Makeev, his co-founder, incorporated Owl Labs that same year. The idea for the company was born when Mark worked from remote locations.
Having only one remote employee necessitated meeting and working with a group of people. This proved difficult, as it was hard to see what was happening, hard to hear what people were saying and challenging to actively contribute.
Current video conferencing tools aren’t optimized for remote participants, which leads him to believe they don’t provide an inclusive experience.
Ollie Labs originated from that.
Owl Labs started in 2014. Its goal is to create a new working paradigm by fusing internet technology with the workplace. Since people started understanding the importance of distributed work, the company has grown 7 times larger. Owl Labs’ partner Hewlett Packard is an industry leader in hybrid work technology. HP continues to push the boundaries of workplace innovation by staying ahead of the curve with their hybrid model. Before the H1N1 pandemic, the workplace was completely transformed by their efforts. They’ve shown this commitment with recent acquisitions like Poly and their release of HP Presence. This partnership will help them continue to lead the pack in product development, which is even more crucial now that they’re leading in that area.
360-Degree Video Conferencing Solutions
Owl Labs created 360-degree video conferencing solutions powered by artificial intelligence first.
The Meeting Owl 3 is the company’s flagship product; it’s a 360-degree camera, microphone and speaker that connects to WiFi and automatically zooms in on whoever’s speaking.
In 2020, Owl Labs’ global sales and popularity increased significantly. France was a high-growth market with significant potential.
Owl Labs recently hired Stuart Collingwood as their General Manager of the UK and Europe. Before that, he worked with sales and marketing for early and late-stage startups. Stuart knows how to increase the overall presence of companies across Europe.
Over 60% of the board members employed by Owl Labs are immigrants to the United States.
HP Tech Ventures’ Angelo Del Priore states that Owl Labs’ secular trends in hybrid work provide fertile opportunities for continued innovation, disruption and growth. This is because HP believes investing in Owl Labs aligns with their strategy to deliver more inclusive and immersive work solutions to their customers.