Owl Labs, a developer of video technology for remote collaboration, raised USD 25 million in a Series C funding round led by HP Tech Ventures with participation from Sourcenext, Matrix Partners, Spark Capital, and Playground Global. Angelo Del Priore, Partner at HP Tech Ventures, will join Owl Labs’ board of directors as part of the investment. This brings the company’s total funding to USD 47 million.  

The company plans to use the funding to expand the global adoption of its products and continue product development. Additionally, it intends to broaden Owl Labs' reach internationally and strengthen its go-to-market alliances beginning with a business arrangement between Owl Labs and HP France under which HP would market and sell Owl Labs' products locally.

Since its founding, the company's revenue has increased more than threefold year-over-year and it has increased sevenfold since the pandemic started.

Analyst QuickTake: HP, the primary investor, recently purchased Poly, a maker of a variety of video and speech devices as well as software for virtual conferencing, and its investment in Owl Labs supports its dedication to converting the workplace to a hybrid structure.