Zoom Snags $30M Series C For Video Calling Service
Video calling service Zoom has landed a $30 million Series C to build its sales and marketing worldwide. The funding was led by new investor Emergence Capital, though big-name existing investors contributed as well, including healthcare financier Patrick Soon-Shiong and Yahoo! co-founder Jerry Yang.
Zoom, founded in 2011 by former employees of Cisco and WebEx, offers customers video conferencing, online meeting tools, and online messaging in one platform. Calls on the service are broadcast in HD.
The Santa Clara, CA, based company’s customer base has increased to 65,000 from 4,500 since it received $6.5 million of Series B funding in September 2013.
The company is profitable, Emergence Capital Partner Santi Subotovsky told The Wall Street Journal. Emergence is focused on early stage cloud-focused companies, and has previously invested in businesses such as Salesforce.com and Box.
“Businesses aren’t fully satisfied with the status quo in video conferencing,” Eric Yuan, Zoom’s CEO and founder, said in a statement. “With this funding, we can reach a broader global audience through new sales and marketing initiatives.”