While the deal’s financial terms remain undisclosed, Zoom has revealed that it expects to finalize the acquisition by the end of the month.
Based in Cork, Ireland, Workvivo provides an employee engagement platform that helps executives communicate business updates with their workers. This includes various features such as post sharing, video, and podcast hosting, and news article publication. An embedded comment system also enables workers to interact with the content posted by their company’s leadership.
One of Workvivo’s standout features is its personalized activity feed, which is designed to show each employee the most relevant content. The activity feed can be customized with a company’s brand assets.
What can the platform do?
Enterprises also have the option to use an automated translation tool to help businesses with a presence in multiple markets share their updates more effectively.
Other features of the Workvivo platform include Spaces, which allows businesses to create collections of content organized by topic, and a navigation bar that provides shortcuts to third-party productivity applications. The startup also offers a built-in analytics dashboard that tracks metrics such as the number of workers who read posts regularly.
According to Workvivo, its platform is currently being used by over a million workers at hundreds of companies, including major brands like Liberty Mutual Group Inc. and the operator of Madison Square Garden.
Integration is next
Since its launch in 2017, the startup has raised more than $38 million from investors, and its workforce has grown sixfold to over 120 employees.
Zoom has indicated that it plans to integrate Workvivo’s software into its videoconferencing platform, joining a growing list of features the company offers for the enterprise market. This includes an AI-powered customer support feature called Zoom Virtual Agent.
Kelly Steckelberg, Zoom’s Chief Financial Officer, praised Workvivo’s commitment to the user experience, noting that the startup has “set the standard for employee communications.” With this acquisition, Zoom hopes to provide a more comprehensive suite of tools for businesses looking to engage and communicate with their employees.
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