Today, I’m excited to announce our $3.1 Million seed extension funding round led by Evolution Equity Partners with backing from existing investors Betaworks, BDC, Good News Ventures, Two Small Fish Ventures and North Spring Capital.
This funding round is an addition to our initial seed round in June 2017, bringing our total investment to $5.2M. We believe that this funding round will help us achieve our goals of growing out our product roadmap and expanding our presence in both the European and US markets. Furthermore, it will give us the ability to bring more great talent to our team!
Meeting Evolution Equity
I first met the Evolution Equity team in Lisbon Portugal at WebSummit in October last year. While the Zoom.ai team met with more than a dozen VC firms, we were immediately impressed with Evolution Equity. Their two lead partners, Dennis and Richard, had incredible attention to detail and focus on their investment criteria. We realized very quickly that our vision of the #FutureOfWork was the same.
Over sushi dinner one evening, we both knew that we would be working together in the near future. This was confirmed the day after coming back to Toronto, when Dennis and I had our first of many transAtlantic calls to discuss the funding round.
Dennis Smith will be joining our board of directors. He’ll be bringing his wealth of operational and sales experience in the enterprise space. I’m elated to be working with him and his entire team at Evolution Equity Partners, an international venture capital firm based out of New York City and Zurich, Switzerland. Their firm has a focus on cyber-security, enterprise software and consumer-related opportunities. In addition, they bring significant resources to portfolio companies seeking to expand in international markets. They have also invested in well-known companies including AVG Technologies, OpenDNS, Carbon Black, and others — many having successful high-profile exits.
The team at Evolution is traditionally a series A growth investor. However, thanks to our mutual vision, we both saw potential in working together for this extension round and into the future. Working together, we are uniquely placed to provide enterprises with a stronger, more secure productivity solution.
Just as we are excited what the future holds for enterprise companies and the future of work, we’re excited to see where this journey will take us. We’re eager to find out what new and innovative tools we can bring to the workplace.
We couldn’t have gotten here without the great team that we have at Zoom.ai. While we work on building solutions for the Future of Work, we’re also focusing on building the best work environment. After all, it matters that we build an environment we want to work every day in.
With this funding, we are also expanding our great team! Please visit our careers page to see if you or someone you know would love to work with us.
Read the official announcement.
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