Zoom Enhances Government Platform with AI Companion, Secures FedRAMP JAB Authorization

Zoom for Government Platform Expands With Zoom AI Companion, Receives FedRAMP® JAB Authorization - Zoom Video Comms (NASDAQ:ZM)

SAN JOSE, Calif., Sept. 16, 2024 (GLOBE NEWSWIRE) -- Today, Zoom announced that The Federal Risk and Authorization Management Program (FedRAMP®) Joint Authorization Board (JAB) authorized Zoom AI Companion as a JAB Moderate system, adding to Zoom for Government's growing list of authorized products, solidifying the company's commitment to the U.S. government space. Most recently, Zoom Contact Center also received FedRAMP® JAB certification as part of the Zoom for Government platform, in June of 2024. Now, U.S. federal agencies, state and local municipalities, and approved businesses and organizations that support U.S. government missions with paid Zoom accounts will have a FedRAMP-authorized, secure AI offering available to them, all within the familiar Zoom experience. Zoom for Government was initially FedRAMP authorized in March of 2019 and received collective JAB approval in July of 2023. Zoom AI Companion is built on a foundation of trust, security, and responsible AI, which is of the utmost importance to government agencies. AI Companion integrates into the work day seamlessly, enabling users to simplify their day by streamlining tasks through information synthesis, enhancing and optimizing capabilities, and improving team effectiveness and efficiency. "At Zoom, we are dedicated to bringing quick availability to Zoom products to market by first and foremost understanding our customers' needs for specific industry solutions," said Matt Mandrgoc, head of U.S. public sector at Zoom. "We received this certification on an expeditious timeframe, which further demonstrates our continued commitment to our U.S. government customers and we look forward to continuing to add new customer-focused solutions to the Zoom for Government platform in the future." What is FedRAMP? The Federal Risk and Authorization Management Program (FedRAMP®) provides a standardized approach to security authorizations for Cloud Service Offerings. FedRAMP establishes a public-private partnership to promote innovation and advance more secure information technologies. What is JAB? JAB is composed of CIOs and Authorizing Officials from the Department of Defense (DOD), Department of Homeland Security (DHS), and General Services Administration (GSA). The JAB selects approximately 12 cloud products a year to work with for a JAB Provisional Authority to Operate (P-ATO). A JAB P-ATO represents a "high water mark" from the assessment perspective. Zoom for Government received its JAB accreditation on July 28, 2023. Zoom for Government The JAB P-ATO certification extends beyond Zoom AI Companion and covers the entire Zoom for Government platform, providing limitless human connection for government agencies and contractors. The secure all-in-one Zoom for Government platform helps customers save time, reduce costs, increase productivity, and make teamwork more meaningful. With solutions like Zoom Rooms, organizations can turn offices into modern, easy-to-use, and powerful collaborative workspaces. The Zoom API enables the integration of agency-specific applications with the Zoom for Government platform, supporting seamless workflows. And, with Zoom's feature-rich cloud Zoom Phone system, agencies have the opportunity to consolidate their communications infrastructure right in the Zoom for Government platform. Currently, FedRAMP JAB-authorized Zoom for Government products include: Zoom AI CompanionZoom Contact CenterZoom MeetingsZoom PhoneZoom Team ChatZoom RoomsZoom Room ConnectorZoom APIZoom WhiteboardZoom EventsZoom NotesZoom Workspace ReservationsZoom MeshZoom SDKsZoom App MarketplaceZoom Client Coming soon to Zoom for Government: Zoom NodeZoom Clips Simple, Scalable & Secure Zoom for Government was designed to comply with the stringent requirements of the U.S. federal government. Zoom for Government runs on AWS GovCloud, a secure network that enables customers to deploy applications and data. It is managed by U.S. persons and leverages co-located data centers within the United States. Zoom for Government has received FedRAMP Moderate, DoD IL4, and StateRAMP authorizations, as well as HIPAA and CJIS attestations. For more information, please visit: https://www.zoom.com/en/industry/government/ or reach out to [email protected]. About Zoom Zoom's mission is to provide one platform that delivers limitless human connection. Reimagine teamwork with Zoom Workplace -- Zoom's open collaboration platform with AI Companion empowers teams to be more productive. Together with Zoom Workplace, Zoom's Business Services for sales, marketing, and customer care teams, including Zoom Contact Center, strengthen customer relationships throughout the customer lifecycle. Founded in 2011, Zoom is publicly traded ZM and headquartered in San Jose, California. Get more information at zoom.com. Contact Zoom PR [email protected] Market News and Data brought to you by Benzinga APIs

Zoom for Government Platform Expands With Zoom AI Companion, Receives FedRAMP® JAB Authorization

SAN JOSE, Calif., Sept. 16, 2024 (GLOBE NEWSWIRE) -- Today, Zoom announced that The Federal Risk and Authorization Management Program (FedRAMP®) Joint Authorization Board (JAB) authorized Zoom AI Companion as a JAB Moderate system, adding to Zoom for Government's growing list of authorized products, solidifying the company's commitment to the U.S. government space. Most recently, Zoom Contact Center also received FedRAMP® JAB certification as part of the Zoom for Government platform, in June of 2024. Now, U.S. federal agencies, state and local municipalities, and approved businesses and organizations that support U.S. government missions with paid Zoom accounts will have a FedRAMP-authorized, secure AI offering available to them, all within the familiar Zoom experience. Zoom for Government was initially FedRAMP authorized in March of 2019 and received collective JAB approval in July of 2023. Zoom AI Companion is built on a foundation of trust, security, and responsible AI, which is of the utmost importance to government agencies. AI Companion integrates into the work day seamlessly, enabling users to simplify their day by streamlining tasks through information synthesis, enhancing and optimizing capabilities, and improving team effectiveness and efficiency. "At Zoom, we are dedicated to bringing quick availability to Zoom products to market by first and foremost understanding our customers' needs for specific industry solutions," said Matt Mandrgoc, head of U.S. public sector at Zoom. "We received this certification on an expeditious timeframe, which further demonstrates our continued commitment to our U.S. government customers and we look forward to continuing to add new customer-focused solutions to the Zoom for Government platform in the future." What is FedRAMP? The Federal Risk and Authorization Management Program (FedRAMP®) provides a standardized approach to security authorizations for Cloud Service Offerings. FedRAMP establishes a public-private partnership to promote innovation and advance more secure information technologies. What is JAB? JAB is composed of CIOs and Authorizing Officials from the Department of Defense (DOD), Department of Homeland Security (DHS), and General Services Administration (GSA). The JAB selects approximately 12 cloud products a year to work with for a JAB Provisional Authority to Operate (P-ATO). A JAB P-ATO represents a "high water mark" from the assessment perspective. Zoom for Government received its JAB accreditation on July 28, 2023. Zoom for Government The JAB P-ATO certification extends beyond Zoom AI Companion and covers the entire Zoom for Government platform, providing limitless human connection for government agencies and contractors. The secure all-in-one Zoom for Government platform helps customers save time, reduce costs, increase productivity, and make teamwork more meaningful. With solutions like Zoom Rooms, organizations can turn offices into modern, easy-to-use, and powerful collaborative workspaces. The Zoom API enables the integration of agency-specific applications with the Zoom for Government platform, supporting seamless workflows. And, with Zoom's feature-rich cloud Zoom Phone system, agencies have the opportunity to consolidate their communications infrastructure right in the Zoom for Government platform. Simple, Scalable & Secure Zoom for Government was designed to comply with the stringent requirements of the U.S. federal government. Zoom for Government runs on AWS GovCloud, a secure network that enables customers to deploy applications and data. It is managed by U.S. persons and leverages co-located data centers within the United States. Zoom for Government has received FedRAMP Moderate, DoD IL4, and StateRAMP authorizations, as well as HIPAA and CJIS attestations. For more information, please visit: https://www.zoom.com/en/industry/government/ or reach out to [email protected]. About Zoom Zoom's mission is to provide one platform that delivers limitless human connection. Reimagine teamwork with Zoom Workplace -- Zoom's open collaboration platform with AI Companion empowers teams to be more productive. Together with Zoom Workplace, Zoom's Business Services for sales, marketing, and customer care teams, including Zoom Contact Center, strengthen customer relationships throughout the customer lifecycle. Founded in 2011, Zoom is publicly traded (NASDAQ:ZM) and headquartered in San Jose, California. Get more information at zoom.com.

Zoom AI Companion secures FedRAMP JAB authorization By Investing.com

SAN JOSE, Calif. - Zoom Video Communications (NASDAQ:ZM), Inc. has announced that its Zoom AI Companion, part of the Zoom for Government platform, has been authorized by The Federal Risk and Authorization Management Program (FedRAMP) Joint Authorization Board (JAB) as a moderate system. This certification, received today, adds to the company's suite of products designed for U.S. government use, including the Zoom Contact Center, which achieved the same status in June 2024. The latest authorization enables federal agencies, state and local governments, and certain private sector organizations serving government missions to utilize a secure AI service within their paid Zoom accounts. Zoom AI Companion aims to integrate into users' workflows, assisting in task streamlining, information synthesis, and team efficiency enhancement, all within the familiar Zoom interface. The JAB, comprising Chief Information Officers from the Department of Defense, Department of Homeland Security, and General Services Administration, grants only about 12 cloud products per year the Provisional Authority to Operate (P-ATO). Zoom for Government first received FedRAMP authorization in March 2019 and collective JAB approval in July 2023. Zoom's comprehensive government platform, Zoom for Government, includes various communication and collaboration tools such as Zoom Meetings, Zoom Phone, and Zoom Rooms, all designed to meet the strict security requirements of the U.S. federal government. The platform operates on AWS GovCloud and is managed by U.S. personnel, ensuring compliance with federal data policies. Matt Mandrgoc, head of U.S. public sector at Zoom, emphasized the company's commitment to meeting customer needs and expressed anticipation for introducing further solutions to the Zoom for Government platform. Zoom, founded in 2011 and headquartered in San Jose, California, is known for its mission to provide a platform for limitless human connection and is listed on NASDAQ under the ticker ZM. This announcement is based on a press release statement. In other recent news, Zoom Video Communications announced the expansion of its Board of Directors with Apple (NASDAQ:AAPL)'s Vice President, Mike Fenger, joining the team. Fenger's extensive experience in sales, operations, and marketing is expected to contribute to Zoom's strategic direction. In addition to his directorship, Fenger has been appointed to the Nominating and Corporate Governance Committee of the Board. Zoom also reported a modest increase in revenue for the second quarter of fiscal year 2025, with its enterprise segment growing by 4% and total revenue reaching $1.16 billion. The company's non-GAAP income from operations exceeded guidance at $456 million, and non-GAAP diluted net income per share surpassed expectations at $1.39. In response to these developments, analyst firms including Citi, Deutsche Bank (ETR:DBKGn), and Goldman Sachs (NYSE:GS) have revised their price targets for Zoom, all maintaining a neutral rating. Zoom has revised its full-year revenue outlook to between $4.63 billion and $4.64 billion, with non-GAAP earnings per share expected to be $5.29 to $5.32. These are among the recent developments at Zoom. As Zoom Video Communications (NASDAQ: ZM) continues to expand its government-focused offerings with the recent FedRAMP authorization of the Zoom AI Companion, investors may find the company's financial health and market performance to be of interest. Zoom's strategic moves in the government sector align with its robust financial metrics, as highlighted by InvestingPro data. With a market capitalization of $21.0 billion and a P/E ratio of 23.78, Zoom demonstrates a significant presence in the market and a valuation that reflects investor confidence in its earnings potential. InvestingPro Tips indicate that Zoom holds more cash than debt on its balance sheet, showcasing a strong financial position that could support its ongoing investments in product development and government certifications. Additionally, 28 analysts have revised their earnings upwards for the upcoming period, signaling positive sentiment towards the company's future performance. These factors, combined with an impressive gross profit margin of 75.89% over the last twelve months as of Q1 2023, suggest that Zoom is well-positioned to capitalize on its government-related opportunities and maintain its profitability. For those interested in a deeper analysis, InvestingPro provides a total of 11 tips on Zoom, offering a comprehensive view of the company's financial health and market outlook. Interested readers can explore these insights further by visiting https://www.investing.com/pro/ZM.