Zoom.ai has announced an additional raise to their seed round.
The new extension of the Toronto AI company’s seed round is worth $3.1 million, bringing the total value of the round to $5.2 million. This new expansion is led by Evolution Equity Partners, with existing investors Betaworks, BDC, Good News Ventures, Two Small Fish Ventures, and North Spring Capital also participating.
This new capital will help Zoom.ai further develop their platform and expand their sales team to meet increased demand across the U.S. and Europe. The company’s conversational AI assistant recently announced major integrations with Google and Microsoft, expanding the presence of their platform to tens of millions of new users.
“Zoom.ai is leading a new approach to tackling the complexity of the modern workplace,” said Roy Pereira, CEO and founder of Zoom.ai. “Enterprises are seeking new ways to engage and empower their employees—Zoom.ai brings secure, intelligent automation to the workplace and enables enterprises and employees to cut down on time spend on menial tasks and focus in on work that drives business.”
The company is continually working to integrate with platforms of all sizes, from Slack to teams to Hangouts, offering everyday workers the ability to maximize their workflow with a personalized virtual assistant. Zoom.ai can help book meetings, make calls, streamline the filling out of standard company forms and more.
On average, the Zoom.ai platform can save workers 10 or more hours a month and boost productivity by 14 per cent, a massive amount when spread across hundreds of employees at an enterprise level.
“Zoom.ai is uniquely placed to extend its category leadership position internationally and across Enterprise sectors by revolutionizing how corporate work is done and their data is managed,” said Dennis Smith, founder and managing partner at Evolution.
“Zoom.ai has built-in from the ground up often neglected attributes that an enterprise-ready solution needs–security of data, cross-platform reach, the innate ability to not only dive into much of an enterprise’s high value data applications and knowledge storage but also to increasingly apply machine learning to stitch together, amplify insights and to present disparate corporate information through chat as a common and easily understood interface.”
Smith will also be joining Zoom.ai’s board of directors.
This seed round extension builds on the huge success Zoom.ai has seen over the past year. The company won OpenText’s EnterpriseWorld pitch competition, won NTT Data’s Open Innovation Toronto competition, and took home the Best New Startup Award at this year’s Canadian Innovation Awards.