Lifesize, an Austin, Texas-based videoconferencing software as a service (SaaS) provider, separated from Logitech International (SIX:LOGN) (Nasdaq:LOGI) and raised $17.5m in funding.
Backers included venture capital firms Redpoint Ventures, Sutter Hill Ventures and Meritech Capital Partners.
Logitech, which will hold a 37.5% share in the company, based on shares outstanding immediately following the investment, aims to focus on its retail business. Founded in 1981, the Swiss public company designs products that connect people to the digital experiences they care about through music, gaming, video and computing.
Lifesize was founded by CEO Craig Malloy in 2003 and was acquired by Logitech in 2009.
FinSMEs
30/12/2015