Qualcomm Funds Video Conferencing Firm

San Diego-based Qualcomm is the lead investor in a developer of cloud-based, HD video conferencing services. Zoom Video Communications, which is based in Santa Clara, California, said this morning that it has raised a Series A financing round, and launched its cloud-based HD video meeting and mobile screen sharing service. Financial details of the funding were not disclosed. Qualcomm Ventures, the venture capital arm of Qualcomm, led the round, which also included Jerry Yang, Subrah Iyar, Dan Scheinman, Bill Tai and others. Zoom said its service allows for HD video meetings and mobile screen sharing for up to 25 people on desktops, tablets and smart phones. More information »