US-based video conferencing service Zoom received $30m yesterday in a series C round led by Emergence Capital that included Qualcomm Ventures, the corporate venturing arm of chip maker Qualcomm.
Horizons Ventures and Jerry Yang, co-founder and former CEO of internet portal Yahoo, as well as Patrick Soon-Shiong, founder of healthcare conglomerate NantWorks, also participated. Zoom, which has now raised $45.5m since it was founded, secured $6.5m in a series B round including Horizons, Soon-Shiong and Yang in September 2013.
Qualcomm first invested in the company as part of a series A round that raised $6m in January 2013, and which also featured Yang and fellow angel investors Subrah Iyar, Dan Scheinman and Bill Tai.
Zoom has developed a video conferencing service which can also be used to run webinars with up to 25 panellists and 3,000 viewers. It will use the new funding to expand its sales and marketing teams and support international growth.