Pexip Holding

Business and Financial Review • Sep 2, 2020

Video Communications Company, Pexip, Announces Strong Internal Growth Momentum

Video Communications Company, Pexip, Announces Strong Internal Growth Momentum

Passes Milestone of 300 Employees

The video communications provider, Pexip, today 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, up from USD 66 million today. One of the

key elements of this expansion is growing the team. In its Q2 financial

presentation, 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.

"I am proud that we are today able to mark this milestone of more than 300 Pexip

employees. We have attracted an outstanding number of excellent applicants over

the last months. Candidates are excited about both the Company itself and how

our technology contributes to the future of work," said Odd Sverre Østlie, CEO

of Pexip.

"As we rapidly expand our workforce, we are mindful that team growth alone is

not enough. We have put in place a comprehensive recruitment process to ensure

we are hiring the right candidates, with our core values, the Pexip Way, being

top of mind. In addition, we have a heavy focus on onboarding, learning and

mentoring, to make sure that we get our new team members up and running as

quickly as possible," said Ingrid Woodhouse, Pexip's VP of People and

Development.

With questions please contact:

Øystein Hem, CFO, +47 992 34 596

Lars-Einar Petterson, Communications Manager, +47 93448827

Pexip simplifies complex video conferencing to empower teams to meet, regardless

of location or technology. Our scalable, cloud-native platform enables high

-quality video meetings, interoperability with Microsoft and Google solutions,

and video system device registration. Customers can deploy Pexip on their own

privately hosted servers, in their own cloud subscription of choice (Azure,

Google Cloud or AWS), as a hybrid, or as a service. With a diverse set of APIs,

Pexip can be customized to fit customers' unique needs. The solution is sold

through 300 channel partners in 75 countries and used in more than 190

countries.