Enterprise Video Conferencing Leader Underscores Industry Leadership Position and Secures New Funding as it Releases Groundbreaking Zoom 4.0
January 17, 2017, 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 from Sequoia, with 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:
- Expanded its business customer base to 450,000 companies, with an accelerated growth of enterprise customers, and its education customer base to 5,800 institutions
- Surpassed 15 billion annual meeting minutes based on current daily usage, with 215% YoY growth in meeting minutes 2015 to 2016
- Exceeded an average of 1 million daily meeting participants
- Achieved Leader in the 2016 Gartner Magic Quadrant for Web Conferencing
- Earned 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 participant privacy
- Broadcast your Video Webinars to Facebook Live and 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,” Arne Josefsberg, CIO of GoDaddy.
The current Zoom Board of Directors consists of CEO Eric S. Yuan, Samuel Chen, Carl Eschenbach (Sequoia Capital), Peter Gassner (Veeva), Dan Scheinman, Santi Subotovsky (Emergence Capital), and Bart Swanson (Horizons Ventures). Nick Adams (AME Cloud Ventures) and Sachin Deshpande (Qualcomm Ventures) are board observers.
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.