Video conferencing platform operator Zoom provided a $30m capital injection for Norway-based video meeting device developer Neat on Wednesday at a $640m valuation.
Founded in 2019, Neat sells a range of video and audio-capture devices designed for use with video conferencing platforms such as Zoom or Microsoft Teams.
Neat’s products contain sensors that can detect the presence of people in the room as well as conditions such as temperature and humidity. The investment will enable it to continue a collaboration with Zoom on new features.
The company said it has now received $41m of total funding. Zoom had previously invested in Neat in July 2020, following an initial investment of similarly undisclosed size in October 2019.
Oded Gal, chief product officer for Zoom, said: “Zoom and Neat have worked closely together to provide customers with an incredible Zoom meeting experience and this additional investment reflects our belief that Neat’s devices are an outstanding complement to Zoom’s communications platform.”