Zoom acquires Ireland-based employee communications platform Workvivo
Zoom today announced the acquisition of Workvivo, a six-year-old Irish startup focused on improving internal communications and corporate culture. Terms of the agreement were not disclosed.
While many business communication tools – such as Zoom – are all about real-time, Workvivo is mostly about asynchronous. Indeed, it’s less about project-specific collaboration and updates and more about driving employee engagement on a general level, including an activity feed, people directory, surveys, and communications. company reviews – much like a modern intranet.
Founded in Cork in 2017, Workvivo was perfectly positioned for the remote working revolution spurred by the global pandemic, with the company reporting 200% growth in ARR (annual recurring revenue) in 2020. And it has amassed a pretty impressive list of customers too, including Amazon, RyanAir and Bupa.
Workvivo had raised about $38.5 million since inception, including a $22 million Series B round last year led by existing investor Tiger Global. However, the startup had also received a direct angel investment from Zoom founder, chairman, and CEO Eric Yuan in 2019, which makes today’s announcement perhaps a little less surprising.
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