Zoom Video Communications raised its expected initial public offering pricing Tuesday to $33 to $35 a share, up from an earlier estimate of $28 to $32 a share, according to a filing with the Securities and Exchange Commission.

The San Jose-based video conference company said it was offering 9.9 million shares of its Class A common stock while selling shareholders will offering 10.9 million shares of Class A common stock.

The IPO would be worth to the company roughly $326 million to $346 million.

The filing said that Salesforce Ventures LLC, the venture capital arm of Salesforce.com (CRM - Get Report) , agreed to buy $100 million of stock in a private placement at a price per share equal to the IPO. The deal is contingent upon, and is scheduled to close immediately subsequent to, the closing of the offering, the filing said.

Zoom Video said in the filing that "much of the primary capital that we have raised in recent years remains on our balance sheet, demonstrating the cash flow efficiency of our business."

The company posted revenue of $60.8 million, $151.5 million and $330.5 million for the fiscal years ended Jan. 31, 2017, 2018 and 2019, respectively, the filing said, representing annual revenue growth of 149% and 118% in fiscal 2018 and fiscal 2019, respectively.

"We believe that our customers are delighted when they use our platform," the filing said. "Since our founding in 2011, our platform has been used to conduct tens of billions of meeting minutes. We believe that our success results from a culture that is focused on customer and employee happiness, a video-first cloud architecture, recognized market leadership, viral demand, an efficient go-to-market strategy and robust customer support."

Zoom plans to list on the Nasdaq under the symbol "ZM."