Neat receives $30m investment from Zoom to drive video collaboration innovation
Neat, the pioneering video device company, today announced that Zoom Video Communications, Inc has made an additional investment in Neat of $30m, reflecting the companies’ shared commitment to deliver innovative technologies that ensure an exceptional video communication experience. With this investment, Neat has a total valuation of $640m.
This marks Zoom’s third investment in Neat to date, bringing the total investment to $41m, and extends the companies’ close collaboration aimed at driving innovation and giving Zoom users an optimal Zoom experience across meeting and collaboration spaces.
Neat and Zoom continue to work closely together on new features and experiences that support the movement to a new way of working with distributed and co-located hybrid teams, focused on improving well-being, social interaction and team creativity.
“Zoom and Neat have worked closely together to provide customers with an incredible Zoom meeting experience, and this additional investment reflects our belief that Neat’s devices are an outstanding complement to Zoom’s communications platform,” said Oded Gal, Chief Product Officer at Zoom. “We have enjoyed tremendous success with Neat to date, and look forward to continuing to jointly drive innovation and deliver exceptional experiences for our customers.”
“Since Neat’s launch in 2019, we’ve shared an amazing journey helping customers enjoy delightful experiences across meeting spaces – even as the definition of the meeting space has evolved,” said Simen Teigre, CEO of Neat. “We look forward to continuing to innovate and deliver unique technology and advanced capabilities that provide customers with rich and meaningful collaboration experiences throughout the hybrid workplace.”