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TEEC Angel Portfolio Zoom Raised $30M Series C For Cloud Video Conferencing

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Zoom has $30 million in new funding as it pushes to continue its rapid growth in the highly competitive video conferencing sector.

The Santa Clara company led by founder and CEO Eric Yuan said the Series C round was led by Emergence Capital. The company has now raised a total $45.5 million since it was founded in 2011 by veterans of Cisco Systems and WebEx.

Existing investors participating include existing investors Li Ka-shing‘s Horizons Ventures, former Yahoo CEO and co-founder Jerry Yang, Qualcomm Ventures and medical entrepreneur Dr. Patrick Soon-Shiong.

The 100-employee company added 40 to its work force last year and expects to add many more in sales and marketing as it pushes for global growth.

Since its last funding in September 2013, the company said it has grown its customer base from 4,500 to 65,000 companies and grown the number of participants in its meetings to 40 million from 3 million.

It has also introduced the industry’s first iPhone/iPad screen sharing and co-annotation and ZoomPresence, which it said is the world’s first software-based conference room system built on Mac and iPad.

“With Zoom we have seen a huge increase in video calling at a dramatically lower cost,” said Leo Gomez, an audio-visual systems engineer at SolarCity, one of Zoom’s customers, in a press release.

(Article written by Cromwell Schubarth, the Senior Technology Reporter at the Silicon Valley Business Journal)

 

TEEC Angel Fund is the earliest angel investor of Zoom in 2011.

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