– FRANCE, Paris – Livestorm, which is transforming online events with the first video communications platform that runs completely in a mobile or desktop browser, today announced that it has raised a $30M Series B funding round led by Aglaé Ventures and Bpifrance Digital Venture, with participation from Raise Ventures and IDInvest, bringing the total amount raised to date to $35M.
This new funding will help accelerate product development and expansion into North America.
The four-year-old company, based in Paris, grew its revenue by 8x since its last funding round in 2019 and tripled its headcount to 50+. Currently, about one-third of Livestorm’s customers are in the U.S., which is the fastest-growing region for the company.
Livestorm’s platform allows businesses to host meetings or webinars from two to thousands of participants in a browser. Livestorm can adapt to any kind of online event, and manage it from end to end, from promotion through post-event ROI analysis. More than 3,500 companies from startups to Fortune 500 companies rely on Livestorm, including brands such as Shopify, Honda, and Sephora.
“We immediately recognized that Livestorm is the HubSpot for video communications,” said Cyril Guenoun, Partner at Aglaé Ventures. “Video and online events have become essential in 2020 and are here to stay. The Livestorm platform thrives in this environment, providing a seamless solution for meetings and events with all the connectors that marketing, sales, customer service, and HR pros need to make video a tightly integrated part of their communications strategies. We’re really excited about the growth potential for Livestorm, especially as they expand their footprint in the U.S.”
Livestorm will be using the funding to rapidly increase its marketing presence and scale its go to market strategies toward mid-market and enterprise in the U.S. while hiring aggressively both in Europe and the U.S.
Livestorm Co-founder and CEO Gilles Bertaux created Livestorm after working as part of a marketing group that struggled to promote and measure ROI for online events. Bertaux found 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.
“We created Livestorm to address the need for more robust video communications tools, and saw great market traction,” said Co-founder and CEO, Gilles Bertaux. “In 2020, as hordes of companies turned to online events and meetings for the first time due to COVID-19, Livestorm was well-positioned to earn that business. Over the next year, we want to build a Slack-like marketplace of plugins for our platform, an ecosystem where developers will be able to easily build on top of Livestorm.”
In 2021, Livestorm plans to once again triple its headcount, hiring 100 more professionals across engineering, sales, support, and marketing. “We are ramping up our U.S. presence quickly, to take advantage of all the demand,” said Gilles Bertaux.
Livestorm is transforming online events, with the easiest way to incorporate video into any type of communication, to attract, engage, and educate their audience. Livestorm is the first video communications platform that allows businesses to host meetings, webinars, or events with two to thousands of people completely in a mobile or desktop browser. The Livestorm platform manages online events from end to end, from promotion and registration through post-event ROI analysis. 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.
For more information: https://livestorm.co/
About Bpifrance and Bpifrance Digital Venture
Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments, and export insurances. Bpifrance also provides extra financial services to help entrepreneurs meet their challenges.
Bpifrance Digital Venture is the VC team within Bpifrance, dedicated to digital and tech companies aiming to become global leaders in their market. It focuses on Seed and Series A/B stages. With €700 million under management, the team backed nearly 90 companies and had 15 exits since 2011. Amongst the investments made by the Bpifrance Digital Venture team are Teads, Talentsoft, Netatmo, Meilleurs Agents, Balyo, Manomano, Evaneos, Openclassrooms, Cardiologs Technologies, GitGuardian, Strapi, Numworks.
For more information: https://www.bpifrance.fr/
About Aglaé Ventures
Aglaé Ventures is a venture capital firm based in Paris, New York, and San Francisco backed by Group Arnault, the controlling shareholder of LVMH, a global leader in luxury goods. Aglaé Ventures invests from €100K up to €100MM in asset-light activities and fast-growing tech companies at all stages. Groupe Arnault backed companies include Netflix, Spotify, Airbnb, Slack, Lyft, Noom, BackMarket, and others.
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