Livestorm Raises $30M to Enhance Browser-Based Meetings & Webinars

Video communications company Livestorm has today announced the successful completion of a $30 million Series B funding round.

Gilles Bertaux, co-founder and Chief Executive Officer, shared with me that the company initially concentrated on webinars before subsequently introducing a video conferencing product – the very platform we utilized for our conversation.

“Our approach centers on recognizing that webinars and meetings aren’t distinct applications,” Bertaux explained.

He posited that it’s more effective to consider the purpose of the interaction, such as a team discussion or a product demonstration, and the desired number of participants. Livestorm accommodates these varying needs and group sizes through a range of customizable templates, effectively eliminating the traditional separation between meetings and webinars: “We aim to eliminate the conventional categorization of meetings versus webinars.”

Livestorm differentiates itself from competing video conferencing solutions by operating entirely within a web browser, removing the need for any software downloads for either presenters or attendees. The company reports an eightfold increase in revenue since securing its €4.6 million Series A funding last autumn, and currently serves a client roster of 3,500 businesses, including prominent names like Shopify, Honda, and Sephora.

Naturally, a video communication service would be expected to perform well in the year 2020. Simultaneously, Zoom has been the dominant force in the remote work discussion this year – Bertaux even conceded that Zoom may have developed “the leading video meeting technology.”

However, he also indicated that the market is evolving: “We are now moving into an era where video is becoming a widely available resource.”

Consequently, the Livestorm team is prioritizing the user experience surrounding the video itself, focusing on features like screen sharing and virtual backgrounds, alongside a comprehensive set of marketing tools designed to enable customers to deliver focused messaging to event participants.

Bertaux drew a parallel between Livestorm and HubSpot, noting that HubSpot “didn’t create landing pages from scratch,” but instead integrated various marketing components around those landing pages.

“Our goal for 2021 is to offer the most extensive integration ecosystem available on any video platform,” he stated.

The funding round was spearheaded by Aglaé Ventures and Bpifrance Digital Venture, with additional investment from Raise Ventures and IDInvest.

In a released statement, Cyril Guenoun, a partner at Aglaé Ventures, likened Livestorm to “the HubSpot for video communications,” further commenting, “Video and online events have become indispensable in 2020 and are expected to remain so. The Livestorm platform excels in this environment, providing a streamlined solution for meetings and events, complete with the connections that marketing, sales, customer service, and HR professionals require to seamlessly integrate video into their communication strategies.”

Bertaux explained that the new capital will enable Paris-based Livestorm to continue its expansion into the North American market – currently, the U.S. accounts for one-third of its customer base and represents the company’s fastest-growing region.