Zoom, a video-based communications app, has announced its acquisition of Workvivo, an Irish employee communications startup, to extend Zoom’s platform and offer its customers new ways to keep employees informed, engaged, and connected.
However, the acquisition’s financial terms were not disclosed; the deal is expected to close in the first quarter of the 2024 financial year.
With this acquisition, Zoom continues its evolution to provide the best end-to-end collaboration platform focused on enabling modern work and powering the digital-first workplace.
Commenting on the acquisition, Chief Financial Officer of Zoom, Kelly Steckelberg, said:
We are excited to welcome the Workvivo team to Zoom. The power of the Workvivo employee experience platform, with its robust communications and engagement offering combined with Zoom’s all-in-one collaboration platform, allows organizations to fully unlock the potential of their employees and evolve their company culture in a hybrid world. Workvivo has set the standard for employee communications, helping businesses reach and engage millions of employees worldwide. Workvivo prioritizes ease of use and simplicity of design, offering the best user experience that perfectly matches Zoom’s DNA.
Founded by John Goulding and Joe Lennon in 2017, Workvivo offers a feature-rich employee experience platform, combining advanced internal communication and engagement tools, a social intranet, and an employee app, all blended into one central hub, forming the heart of a company’s digital ecosystem. Its offering has seen triple-digit growth in the last three years and is used by hundreds of customers worldwide, including Liberty Mutual, Lululemon, Ryanair, Madison Square Garden, and Wynn Resorts.
As a part of the agreement, Zoom plans to incorporate Workvivo’s capabilities into its platform, and Goulding, Lennon and Workvivo’s more than 120 staff transfer to the video chat company.
Co-founder & CEO of Workvivo, John Goulding, added:
Our platform replaces outdated, clunky, internal communications tools with a vibrant, familiar social experience and has a proven history of unparalleled levels of adoption. With Zoom, we can build great things together.
Headquartered in San Jose, California, Zoom helps individuals express ideas, connect to others, and build toward a future limited only by their imagination. In 2021, the company acquired Five9, a leading intelligent cloud contact centre provider, in an all-stock transaction valued at approximately $14.7 billion.
In June 2022, Workvivo raised $22 million in a funding round led by Tiger Global. Zoom founder Eric Yuan and Frontline Ventures also back the startup.
