Zoom is a cloud video conferencing service that offers video meetings and has added platform capabilities allowing customers and third parties to build applications on top of Zoom. The company announced a $100 million Series D entirely funded by Sequoia at a $1 billion valuation. Zoom was cash-flow positive in the most recent quarter and previously raised $45.5 million. It serves roughly 450,000 businesses, including 5,800 educational institutions, and has over 400 employees. CEO Eric S. Yuan founded the company in 2011 after selling and leaving WebEx/Cisco; he says he will bank the new funding and invest in parts of the business as needed. Zoom is a cloud video conferencing company founded in 2011 by CEO Eric Yuan and based in Santa Clara, CA. Its platform unifies cloud video conferencing, online meetings, and group messaging and is available across ZoomPresence, Windows, Mac, iOS, Android, and H.323/SIP room systems. The company reported serving 65,000 companies. Zoom closed a $30M Series C to support growth. The company will use the funding to scale its sales and marketing teams. It plans to expand its business worldwide. Zoom is a cloud video‑conferencing service that offers truly multiplatform, multi‑person video conferencing across desktop, iOS and Android with an emphasis on simplicity and high‑quality video. The product was built by founder and CEO Eric Yuan using his experience as VP of Engineering at Cisco/WebEx and a team of ex‑employees from those companies. The company is just over two years old and has grown to roughly 4,500 business customers and more than 3 million participants (up from 1,000 businesses and 400,000 participants in January). It has scaled its simultaneous participant limit to 25 to manage bandwidth while remaining competitive on pricing and features. Zoom plans to use the new funding to drive international expansion and to gain traction in key verticals including education and healthcare. The service targets BYOD trends in enterprise by providing an affordable, cross‑device conferencing solution without sacrificing quality. Zoom delivers high-quality multi-person video conferencing that runs on desktop and mobile (iOS and Android) and in its version 1.0 added paid offerings. The product supports up to 40 participants, high-quality screen sharing, meeting recording and other collaboration features. A free basic plan is available with a 20-minute limit for meetings of more than two people, while business and enterprise tiers are priced at $9.99 per month and an education plan is offered at $0.99 per month for colleges and schools. The company was founded by WebEx and Cisco veterans and is targeting the education market and SMBs that historically could not afford enterprise conferencing systems. Since launching in August, the service has had over 400,000 participants, hosted about 140,000 meetings, and been used by roughly 1,000 businesses.

Total raised

$143M

Funding rounds

4

Latest round

Series D

Latest activity

Jan 2017