Video collaboration and meeting productivity solutions, Lifesize, announced it had 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 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 $60 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
Lifesize CEO Craig Malloy said:“Organisations are increasingly investing in video conferencing and digital collaboration technologies because these solutions are how business gets done today. 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.”
