Cloud video conferencing company Zoom has raised $30 million in Series C funding. The investment more than doubles the funding that Zoom has received in prior rounds.
Zoom will use the funding to scale its sales and marketing teams, and expand its business globally, it said. It also said that it is seeing triple-digit growth for its business-focused cloud video collaboration platform, which is delivered as-a-service. Specifically, it has increased its customer base from 4,500 to 65,000 companies since 2013, grown meeting participants from 3 million to 40 million individuals, surpassed 1 billion meeting minutes and gained 2,500 educational institution customers.
"Businesses aren't fully satisfied with the status quo in video conferencing," said Eric Yuan, Zoom's CEO and founder, and a former executive with WebEx. "Zoom's cloud-based video conferencing has a richer feature set and better user experience at a much more affordable cost."
The company has also added functionality to the platform, to include
iPhone (News - Alert) /iPad screen sharing and co-annotation; the Cloud Room Connector, which connects H.323/SIP video endpoints to the cloud; ZoomPresence, a software-based conference room system built on Mac and iPad; and the launch of Zoom Video Webinars, which can feature 25 video panelists and 3,000 viewers...Read More
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