Financial terms of the deal have not been disclosed, but Zoom expects to close the acquisition by the end of the month. Workvivo, an Ireland-based employee engagement platform, allows executives to communicate business updates with their employees. Features include sharing posts, hosting videos and podcasts, and publishing news articles, as well as a commenting system for employees to comment on content posted by management. The platform also has a personalized activity feed, which is designed to show each employee the most relevant content, and can be customized with a company’s brand assets. Companies can also use an automated translation tool to help them share their updates more effectively across multiple markets. Other features include Spaces, which allow companies to create collections of content by topic, and a navigation bar that provides shortcuts to third-party productivity applications. Workvivo also offers a built-in analytics dashboard that tracks metrics such as the number of employees who regularly read messages. The platform is currently used by more than a million employees at hundreds of companies, including Liberty Mutual Group Inc. and the operator of Madison Square Garden.
Since launching in 2017, Workvivo has raised more than $38 million from investors and increased its workforce sixfold to more than 120 employees. Zoom plans to integrate Workvivo’s software into its video conferencing platform, joining a growing list of features the company is offering for the pocket equal market. This includes an AI 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 comprehensive suite of tools for companies to engage and communicate with their employees.
