Palo Alto, CA, April 26, 2017 --(PR.com
, the startup that’s building a computer-vision software platform for video collaboration, has raised $10 million in new equity in the recently oversubscribed Series B investment round.
The equity issue was led by existing lead investors and a selected number of new high-quality private and institutional investors, bringing the total equity raised by Huddly to $20 million. Pareto Securities AS acted as financial advisor to the company.
The financing will be used to fund Huddly’s global launch of Huddly GO, the intelligent video camera for team collaboration powered by their world leading computer-vision software. Huddly will also accelerate their smart feature roadmap, fueled and co-created through an interactive fan-based customer pre-launch program
“Huddly represents a unique investment case going forward," says Director Richard Hegg, the project leader at Pareto Securities. "The whole process took less than two weeks and resulted in the oversubscribed equity issue that had a high hit rate among investors. It’s been truly exciting for us to prepare and execute this transaction, and it is a pleasure to present Huddly's unique technology to our investors.”
“The money is going to accelerate our launch path and our software development program,” says Thomas C. Holst, CEO of Huddly. “We’re building a software-upgradeable and smart product that is going to help people collaborate in smarter and much more intuitive ways than anything on the market today. We’ve got fantastic investors, many with a track record of great successes in this business, and all with the same ambition and vision of the future of tech collaboration. Together, we are well on the way to do unimaginable things and solve problems nobody knew could be solved. We always say we are going to be ‘the next Tesla of intelligent computer vision’ It has helped us visualize and push on throughout this amazing journey so far."
Aiming to disrupt the traditionally elite enterprise video communications market, Huddly has built what it calls an intelligent software platform made to democratize the world of professional videoconferencing and bring intelligence to all collaborative spaces.
“What happens when you take the hottest computer vision technology used in applications like drones, autonomous cars and VR/AR/MR and bring it into the places where we meet? Magic ... that’s what happens,” said Casey King, Chief Innovation Officer of Huddly. “Huddly is a company that is reimagining the camera. You immediately notice features like wide field of view, distortion correction, dense image sensor with electronic pan-tilt-zoom and overall great image processing in a category that blurs the line between a webcam and a professional camera. We truly build things that see. “Seeing” in this case is not restricted to only vision, but is inclusive of perception, recognition, understanding and cognition. Reimagining what a camera is (coupled with CV and AI) will present powerful use cases that are barely imaginable today, but will be commonplace tomorrow.”