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Zoom Video Conferencing Adds $6.5M In Funding To Drive Expansion And Uptake In Education And Health
Zoom, the Santa Clara-based cloud video conferencing startup that last�raised $6 million in January, has raised another $6.5 million in a Series B round of funding that has just closed. The new round is led by Facebook, Waze and Siri investor Horizons Ventures Hong Kong, and included existing investors Patrick Soon-Shiong and former Yahoo! CEO and co-founder Jerry Yang.
Eric Yuan, the founder and CEO of�Zoom, built his company using his experience as VP of Engineering at Cisco and WebEx, as well as a team of ex-employees from each company. The startup aims to disrupt the online video conferencing industry by providing truly multiplatform, multi-person video conferencing that's simple to use and that works with extremely high quality video regardless of platform.
Back when Yuan and his team raised their Series A round, I wondered whether the company might become an acquisition target and take the easy way out by getting picked up by his former employer, or by competitors. This renewed investment, following so closely on the heels of the original $6 million Series A, seems to indicate both the company's backers and its team are committed to truly building a world-class business, rather than just stumping up some impressive tech and making a quick exit.
Zoom is now just over two years old, and in that time it has managed to attract 4,500 business customers, and over 3 million participants. Compare that to just 1,000 businesses on board and 400,000 participants back in January, and you get a 650 percent increase in individuals, and 350 percent growth in businesses using the platform over less than a year.
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