Russia’s Webex,, Secures $7.3M, Just Before Sanctions Bite

Web-conferencing and video-conferencing software company has raised $7.3 million in a Series A funding round led by Intel Capital and EBRD (the European Bank of Reconstruction and Development) and also included Flint Capital and previous investor VTB Capital. On an interesting note, this is the last investment of EBRD in a Russian company because of the sanctions on Russia right now. We’re assuming you’ve been reading the news…

Intel typically invests in one Russian company a per year. We’ll see if they do any more in a year’s time. pioneered the Russian web-conferencing market and has a lot of corporate clients in the country, including Russia’s biggest financial institution Sberbank, Microsoft Russia and local telecom giant Rostelecom. Over one million people now use it in the country.

The service can be used either purely online, or on-premises, works on any device and requires no software installations.

The company managed to beat out Webex (owned by Cisco) and Citrix in the Russia-speaking market, partly by merging with competitor COMDI just under a year ago.