Zoom Video Communications, a provider of enterprise video and web communications technology, today announced that it has raised $100 million.
The Series D funding was led by Sequoia, with additional participation from Emergence Capital, Jerry Yang’s AME Cloud Ventures, and Qualcomm Ventures. As part of the funding round, Sequoia partner Carl Eschenbach has joined Zoom’s Board of Directors.
The Silicon Valley company had previously raised a total of $45.5 million.
“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,” said Eric Yuan, CEO of Zoom, who founded the company five years ago. “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.”
Zoom now counts 450,000 business customers and 5,800 education customers.
“Zoom has cracked the code for delivering effortless collaboration by providing the first product built from scratch with video in mind,” said Eschenbach. “They’re the only enterprise startup that combines Apple-level NPS with Slack-like usage and Facebook-caliber monetization. No other company nails all three.”
Zoom also announced Zoom 4.0, which includes video embedding, screen sharing, voice command rooms, and a waiting room option.
“It’s not hard to believe that in ten years every conference room will be connected by Zoom,” said Eschenbach.