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.