Zoom Video Communications Trumpets 2017 Growth
It seems that Australia’s Zoom Video Communications is really living up to its name. The cloud-based video communications provider this month announced that it experienced 134 percent growth in 2017. And the company increased its customer base by 105 percent.
"Zoom's rapid expansion into the ANZ region has been fuelled by a demand for easy and secure meeting experiences. The market is recognizing the value of our high-quality video communications offerings -- and our Australian team is poised to deliver continued growth in 2018," said Eric S. Yuan, founder and CEO of Zoom.
The company has a new data center, and a new sales and support office in Sydney. And it is also expanding its reach through collaboration with such companies as Box, Okta, and Slack.
Men’s health organization The Movember Foundation, sustainable product development and commercialization outfit Planet Innovation, digital advertising firm REA Group, employment and recruitment business Seek, and Western Sydney University are among Zoom’s customers.
"Our business has grown significantly over the last few years and as a result, we've needed to adapt our internal technology to better support our people across Australia and Asia,” said Tomas Varsavsky, REA Group Chief Engineer. “Zoom has played a key role in improving productivity and team collaboration – it's easy to use, accessible, and reliable. We've seen enormous staff engagement with the software since deploying three months ago – we have 1,100 of our people now using Zoom on a regular basis, we've set up 20 Zoom Rooms across the business, and more than 6,000 meetings have already been logged in the system. We're expecting these numbers to grow in 2018 as we continue to roll out across the business. Most importantly, we've seen a downward trend in requests for IT support when it comes to video communications."
Zoom earlier this year garnered $100 million in a Series D round with Sequoia.
The videoconferencing service provider, which had raised $45.5 million prior to receiving this latest round, reportedly wasn’t even seeking new funding. Rather, CEO Eric S. Yuan said, it was Sequoia – which had been seeking to invest in a videoconferencing company – that approached Zoom. The company was attractive because Yuan was involved in the launch of WebEx (which Cisco later bought for $3.2 billion) and Sequoia’s portfolio companies were fans of the Zoom product.
“By addressing the huge market demand for cloud-based videoconferencing, Zoom is seizing a leadership position and filling the void created by the industry’s fading legacy providers,” according to Yuan writing for the Zoom blog. “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.”
Edited by Mandi Nowitz