Venture Capital News Daily
   Your Source for Venture Capital and Private Equity Financings
   Massinvestor/VC News Daily      
   Venture Capital News Daily on RSS Venture Capital News Daily on Facebook Venture Capital News Daily on Twitter
VC DATABASE   /   MOBILE APP  /  CELEBRITY VCs   /   VENTURE TRACKR   /   ARCHIVE   /   ABOUT US
Venture Capital News Daily
Zoom Raises $100M Series D Financing

       
SAN JOSE, CA, Zoom Video Communications, the leading provider of enterprise video and web communications technology, today announced that it has raised $100 million in Series D funding.
Click here for more funding data on Zoom Video Communications
To export Zoom Video Communications funding data to PDF and Excel, click here
The round was led by Sequoia, with additional participation from Emergence Capital, Jerry Yang's AME Cloud Ventures, and Qualcomm Ventures. As part of the funding round, Sequoia partner Carl Eschenbach has joined Zoom's Board of Directors. The company also announced that it has launched Zoom 4.0, a new release featuring leading-edge innovations for enhanced enterprise functionality. Zoom had previously raised a total of $45.5 million from Emergence Capital, Horizons Ventures, AME Cloud Ventures, Qualcomm Ventures, and others.

'By addressing the huge market demand for cloud-based video conferencing, Zoom is seizing a leadership position and filling the void created by the industry's fading legacy providers,' said Eric S. Yuan, CEO of Zoom. 'With this support from Sequoia, we will develop revolutionary products and features such as virtual reality, augmented reality, and the Zoom Developer Platform; expand internationally; and grow our sales and marketing teams.'

Founded five years ago by Yuan, Zoom has been on an incredible growth trajectory. Progress since its 2015 Series C funding includes:

-Expanding its business customer base to 450,000 companies, with an accelerated growth of enterprise customers, and its education customer base to 5,800 institutions
-Surpassing 15 billion annual meeting minutes based on current daily usage, with 215% YoY growth in meeting minutes 2015 to 2016
-Exceeding an average of 1 million daily meeting participants
-Achieving Leader in the 2016 Gartner Magic Quadrant for Web Conferencing
-Earning an industry-leading Net Promoter Score (NPS) of 69

'Zoom has cracked the code for delivering effortless collaboration by providing the first product built from scratch with video in mind,' said Sequoia partner Carl Eschenbach. 'They're the only enterprise startup that combines Apple-level NPS with Slack-like usage and Facebook-caliber monetization. No other company nails all three. It's not hard to believe that in ten years every conference room will be connected by Zoom.'

The Zoom 4.0 release includes greater enterprise functionality across its services:

-New Zoom Developer Portal and Zoom MobileRTC Platform -- Developers can embed video, voice, and screen sharing in business and mobile applications
Zoom Rooms controller app for Android tablets (in addition to current iPad support)
-Enhanced enterprise management functionality for Zoom Rooms
-Voice command to control Zoom Rooms and Zoom iOS applications
-Ability for multiple participants to share their desktop screens simultaneously
-Participant attention indicator
-Waiting room option for greater privacy
-Broadcast your Video Webinars to Facebook Live or YouTube

'GoDaddy has deployed Zoom widely across our enterprise. It has allowed us to streamline our communications, collaborate effectively, and lower our TCO. With their reliable, best-in-class service, Zoom has changed the way we do business. We're excited to see how they continue to innovate their products with this new funding,' said Arne Josefsberg, CIO of GoDaddy.

The current Zoom Board of Directors consists of CEO Eric S. Yuan, Samuel Chen (Independent Board Member), Carl Eschenbach (Sequoia Capital), Peter Gassner (Veeva Systems), Dan Scheinman (Independent Board Member), Santi Subotovsky (Emergence Capital), and Bart Swanson (Horizons Ventures). Nick Adams (AME Cloud Ventures) and Sachin Deshpande (Qualcomm Ventures) are board observers.

To sign up for Zoom and keep up with our latest news, visit zoom.us and follow @zoom_us.

About Zoom
Zoom unifies cloud video conferencing, simple online meetings, group messaging, and a software-defined video conference room solution into one easy-to-use platform. Our solution offers the best video, audio, and screen-sharing experience across Windows, Mac, Linux, Chrome OS, iOS, Android, BlackBerry, Zoom Rooms, and H.323/SIP room systems such as Polycom and Cisco Tandberg. Zoom is a privately held company headquartered in San Jose, California.
(c)2011-2018 by Massinvestor, Inc. For contact info, please check out our about page.
  >> Click here for in-depth research on 4,000 VC firms
Venture Capital News Daily
 
Massinvestor/VC News Daily
617-620-4606


© 2018 Massinvestor, Inc.