This funding will help Mmhmm expand its team. Here are the top-line bullets you need to know.
Mmhmm, a video communication platform, has raised $100M in a Series B that drew participation from Sequoia Capital and Softbank Group, among others.
How’s the company performing?
- California-based Mmhmm is a video conferencing platform that allows users to make virtual rooms, backgrounds, and presentations. The presenters may also generate text slides within the app rather than uploading them, and blend preset remarks with live dialogues in real-time. Users can activate a feature that can also capture their side of the video, allowing presenters to go back and engage with the footage point by point.
- Its existing partners include Zoom Communications, Cisco Webex, Google, Microsoft, and others.
Why does the market matter?
- The global video communication platform as a service (PaaS) market is expected to grow at a CAGR of 31.3% to reach $20.4B by 2028, according to Adroit Market Research.
- The Covid-19 pandemic has boosted the industry amid the shift to remote work.