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Zoom Secures $100 Million Funding Towards VR/AR Product Development

As virtual reality (VR) and augmented reality (AR) technology continues to grow, more and more companies are starting to implement them into their business model. In an announcement this week, Zoom Video Communications, a specialist in enterprise video and web communications technology, revealed it has raised $100 million USD in Series D funding from Sequoia, with an eye on building VR and AR products.

Alongside the funding round – which had additional participation from Emergence Capital, Jerry Yang’s AME Cloud Ventures, and Qualcomm Ventures – Sequoia partner Carl Eschenbach has joined Zoom’s Board of Directors, as well as launching Zoom 4.0.

“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 S. Yuan, CEO of Zoom in a statement. “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-video-conferencing

The Zoom 4.0 release includes a range of improved enterprise functionality including:

  • New Zoom Developer Portal and Zoom MobileRTC™ Platform — Developers can embed video, voice, and screen sharing in business and mobile applications
  • Zoom Rooms controller app for Android tablets (in addition to current iPad support)
  • Enhanced enterprise management functionality for Zoom Rooms
  • Voice command to control Zoom Rooms and Zoom iOS applications
  • Ability for multiple participants to share their desktop screens simultaneously
  • Participant attention indicator
  • Waiting room option for greater privacy
  • Broadcast your Video Webinars to Facebook Live or YouTube

“Zoom has cracked the code for delivering effortless collaboration by providing the first product built from scratch with video in mind,” said Sequoia partner Carl 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. It’s not hard to believe that in ten years every conference room will be connected by Zoom.”

Zoom has yet to reveal what types of VR/AR products it plans to release, something along the lines of AltspaceVR or vTime is most likely, but when it does VRFocus will bring you further details.