US-based enterprise video software provider Zoom Video Communications secured $100m yesterday in a series D round that included Qualcomm Ventures, the corporate venturing arm of mobile semiconductor maker Qualcomm.
Venture capital firm Sequoia Capital led the round, which valued Zoom at $1bn according to Forbes, and which included Emergence Capital and AME Cloud Ventures. Zoom has now raised approximately $145m since it was founded in 2011.
Zoom has created a platform that combines cloud video conferencing, group messaging and a video conference room capability, and which can be used for video or audio conferences. The company has more than 450,000 business customers.
The new funding was closed as Zoom launched Zoom 4.0, the next iteration of its software. It adds features such as a voice command function, an online waiting room and the ability to livestream meetings on to social media.
Qualcomm Ventures had previously taken part in a $6m series A round in 2013 that included AME Cloud Ventures founder Jerry Yang and angel investors Subrah Iyar, Dan Scheinman and Bill Tai.
The unit returned for a $30m series C round in early 2015 that was led by Emergence Capital and backed by Horizons Ventures, Jerry Yang and individual investor Patrick Soon-Shiong.
Eric Yuan, CEO of Zoom, said: “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.
“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.”