Austin tech firm Lifesize expands reach, offerings

May 21, 2014
Austin American Statesman

Lifesize, a pioneer in developing high-end videoconferencing systems, is shifting its focus to a lower-cost software service

The company on Wednesday will launch Lifesize Cloud, which allows workers using smartphones, tablets, laptops and meeting rooms to communicate by video without traditional on-premise video equipment

Lifesize was founded in 2003 by Craig Malloy and Michael Kenoyer, both veterans of the videoconferencing industry. The company raised $81 million from investors including Austin Ventures and Redpoint and introduced the industry’s first high-definition videoconferencing system

In 2009, Lifesize was acquired by Swiss company Logitech International SA for $405 million in cash. The company remained headquartered in Austin, where today it has 250 workers at its headquarters at Barton Skyway and MoPac Boulevard

Lifesize had revenue of $119.8 million in the most recent fiscal year, which ended March 31, 2014. That marked a 12.5 percent decrease from the previous fiscal year, when the company reported $137 million in revenue. The company is profitable and is hiring in areas including product development

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