The investment co-led by rivals in the workplace messaging space is likely a sign of increased cooperation in the future.
US-based cross-platform chat interoperability provider Mio secured $8.7m in series A funding co-led by video conferencing platform operator Zoom and computing and IT group Cisco, signalling a future of open collaboration among companies competing in the enterprise communication software sector.
Other investors into the round include Y Combinator, Goldcrest Capital, Enicas Ventures, Two Sigma Ventures, Khosla Ventures and Capital Factory. Cisco, which is making the investment through its strategic investment arm Cisco Investments, owns Zoom rival Webex.
Founded in 2015…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
