Pexip Strengths, Domain Expertise, and Key Differentiators
Pexip is a global technology company that delivers a video-first meeting platform. Their vision is to make virtual meetings even better than meeting in-person, by empowering people to see and engage with each other in a better way. Offering flexible deployment models; that means a cloud-native platform provided as a service or deployed as a self-hosted solution either on-premises or in any cloud environment, all built on Pexip’s proprietary Infinity technology.
Pexip Recent Developments
In January 2020, Pexip introduced Adaptive Composition, a new AI-powered technology designed to put people, not systems, at the heart of the meeting experience. With real-time face detection, auto-framing, and optimized use of screen real estate, Pexip’s meeting experience works with any camera-enabled device and empowers people to engage with each other in a better way.
Pexip Mergers and Acquisitions (M&A) Activities
In July 2020, Pexip and Videonor, have agreed that Pexip will take over the ownership and management of Videonor’s portfolio of enterprise customers. The agreement will ensure that the customers in question have access to a broader range of video conferencing services suited to enterprise needs. As the majority of these customers are in Norway, the agreement will provide additional revenue growth for Pexip, as well as an even greater market share in Norway.
The agreement stepped into force in July 2020 and the migration of customers is expected to take 6 - 12 months. Videonor’s compensation will be based on the amount of income and customer loyalty transferred to Pexip over the next two years.
Pexip is the result of a merger between Pexip and Videxio (founded in 2011), a cloud video service provider. The respective companies were started by a group of visionary industry veterans and were built on an ambition to break down communication barriers and provide a video-first meeting experience. Based on their extensive experience from video conferencing, the founders of the two companies had identified a need among users and IT, administrators, to remove the obstacles which were making enterprise video conferencing expensive, and difficult to use, manage and scale. The merger between the two companies was approved at the end of 2018 and came into force in January 2019. It presented a unique opportunity to address the enterprise segment with the consistent user experience across all deployment options, both self-hosted and as-a-service. Technology and workplace habits have come a long way in the years since the original companies were founded but the challenge of connecting devices and platforms remains.
Pexip Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Pexip applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Pexip and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Pexip Infinity customers.
Ownership: - PEXIP:OSE
Number of Employees: 300
Functional Markets: Collaboration,
Pexip Key Enterprise and Cloud Applications
Pexip Revenues, $M:
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* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Pexip Revenue Breakdown By Type, $M:
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Pexip Enterprise Applications Revenues By Functional Markets, $M:
Pexip Enterprise Applications Revenues By Verticals, $M:
Pexip Revenues By Region, $M
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Pexip Direct vs Indirect sales
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Pexip Customers - Breakdown by Geo, Size, Vertical and Product
No. of Pexip Customers: x
No. of Pexip Enterprise Applications Customers: 3400
No. of Pexip Cloud Customers: x
No. of Pexip Cloud Subscribers: x
Pexip currently serves more than 3400 customers with headquarters in 73 countries and users in 190 countries.
Their main focus is on large enterprise customers and they have 20% of the Global Fortune 50, and 15% of the Global 500 companies as customers, including the likes of GE and Accenture. In addition, Pexip has a range of public sector customers such as the US Veterans Affairs.
Pexip is unique in being able to offer a total solution that allows customers to deploy the solution as they choose, whether that be a cloud-native platform provided as a service or deployed as a self-hosted solution on-premises or in any cloud environment. Being able to deliver on this important requirement for many large organizations is a testament to Pexip’s technology leadership within video communication.
Pexip Market Opportunities, M&A and Geo Expansions
The video communications provider, Pexip reported that it has passed a new milestone, with the Company now numbering more than 300 employees. Pexip was listed on the Oslo Stock Exchange in May 2020 in Norway’s first fully virtual IPO. Following the IPO, Pexip’s long-term goal is to reach USD 300 million in Annual Recurring Revenue (ARR) by 2025. One of the key elements of this expansion is growing the team. The Company estimated that it would have 350-400 employees by the end of 2020. With four months of the year to go, Pexip can now report having passed the 300 employee mark, a growth of 65% from the beginning of the year. Of the new hires in 2020, 60% are within sales and marketing and 30% are within engineering/R&D. 80% of the new hires are located outside Norway, continuing the Company’s focus on international expansion.
Pexip Risks and Challenges
The group is exposed to market risk, including, but not limited to, the following: access and ability to keep qualified employees; access to technology used in product development; ability to remain innovative; ability to execute on development schedules and secure customer contracts; protection of own patents and potential conflicts with third party patents; liquidity and access to funding; attractiveness of product platforms offered; ability to engage with and enter into contracts with partners; market perception of product platform; the relative competitiveness in the market, etc. The importance of each risk factor will likely change over time and depend on the market environment and relative competitiveness of the group.
Pexip Ecosystem, Partners, Resellers and SI
Selling exclusively through channel partners and working closely with 300 channel partners to scale sales and marketing efforts and promote brand recognition globally. Focused heavily on channel enablement in 2019, including holding a large number of training and certification courses at Pexip Academy.
Pexip found success co-marketing and selling with ecosystem partners like Microsoft and Google, and are focused on building the Pexip brand and driving demand for offerings together. Pexip works closely with Microsoft to engage with Microsoft customers through sales calls, joint webinars, local roadshows, and trade shows such as Microsoft Ignite and Microsoft Inspire. Similarly, Pexip has worked closely with Google to commercialize a Google Hangouts Meet gateway solution. Pexip was the first to offer this and is currently the only vendor with a solution for this use case. Pexip is being invited to meet with Google customers in sales calls and through joint webinars, local roadshows, and trade shows such as Google Cloud Next. Google links to the Pexip website on its G Suite website and drives significant demand for Pexips interoperability solutions.
In October 2019 Pexip and Kinly, a leading specialist in implementing video collaboration solutions, have signed a global, long-term partnership agreement that enables Kinly to resell Pexip products and services to enterprise customers worldwide.
The two companies already experience strong growth in the video meetings space, with many large organizations already using Pexip solutions worldwide. Expanding the partnership, Kinly as a global player will ensure better availability of their Pexip offering across all their regions. Kinly will bring the Pexip service to market as “Pexip by Kinly”, with added customer value and services for meetings and rooms. For customers that require highly customizable solutions, Kinly will resell and provide Pexip Infinity on-premise, as well as the Kinly Cloud Room solutions, developed on top of the Pexip Infinity engine.
Pexip Cloud Infrastructure Insights
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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