CommonGround, a startup that develops new technology for “4D collaboration,” has announced to have raised $19 million in a new funding round.
This isn’t the first time Ran Oz and Amir Bassan-Eskenazi have launched a startup; they also started the video networking company BigBand Networks. It recently won two tech-related Emmy awards and was acquired by Arris Group in 2011. Before that, they worked together at the digital company Optibase, which Oz co-founded.
Although the company is still in stealth mode, Oz and Bassan-Eskenazi gave their complete vision. They agreed that video conferencing has significantly increased. However, it is still no match for face-to-face communication.
Bassan Eskenazi said in a statement, “There are certain things you just can’t achieve through a video-conferencing type solution. Through the years, they got better, but they couldn’t achieve the thing where you go to a bar, and you know at once who is taken back and who is excited.”
This is what Bassan and his team are trying to make an online collaboration network that captures in-person communication and improves the face to face conversations. Oz said that you should think of it as something way beyond video.
Bassan-Eskenazi agreed that they have been working on CommonGround for over a year. Moreover, he called it a great opportunity as the offices reopen from the next year.
He stated, “Back when we started it, we thought that the workforce should know about this problem. Now, my mother understands it because she read it to the grandkids.”
Regarding the funding, Matrix Partners led the funding round, with participation from Stage One Ventures and Grove Ventures. However, the raised money is still less than that raised by other startups, like Shadowfax, which raised $60 million.
Matrix General Partner, Patrick Malatack, stated, “Ran and Amir have a great vision to rebuild the communications network. Their expertise, along with successful exits, led to an easy investment decision.”
