Zoom makes headlines again with its acquisition of Irish employee experience platform Workvivo for an undisclosed amount
In the post-pandemic world with hybrid work set-ups and virtual meetings, Zoom is constantly on the lookout for new opportunities and expansion plans. This week, Zoom announced its intention to acquire Workvivo, which is founded by John Goulding and Joe Lennon back in 2017.
Workvivo is an employee experience platform that provides internal communication and engagement tools for the businesses of today. Over the past three years, the company has boasted triple-digit growth rates. “We are excited to welcome the Workvivo team to Zoom. The platform will allow organisations to fully unlock the potential of their employees and evolve their company culture,” says Kelly Steckelberg, Chief Financial Officer at Zoom. The transaction is expected to close by Q1 2024.
While Zoom specialises in real-time communication, Workvivo is an asynchronous platform that is focused on employee engagement at all levels. Features include an activity feed, surveys, and an announcement system for critical company communications, much like the intranet. Founded out of Cork, its key clients include Amazon, RyanAir and Bupa.
Prior to this, the company has raised $40mn since its inception, with an angel investment from Zoom CEO Eric Yuan in 2019. The acquisition by Zoom will likely pan out well in its playbook of embracing a new future of artificial intelligence and hybrid work culture. “Our focus is to integrate Workvivo into the Zoom platform, and we will look to streamline in the future,” says a Zoom spokesperson. “Workvivo employees will transition to Zoomies.”