[NEWS] Sendbird snags additional $50M for messaging API tool, as it extends Series B to $102M – Loganspace

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[NEWS] Sendbird snags additional $50M for messaging API tool, as it extends Series B to $102M – Loganspace


Sendbird, a startup that enables builders to add messaging to their apps with a number of lines of code, presented a secondary Sequence B investment of $50 million this day. This extra funding comes on highof the $52 million, the firm raised in February.

The recent cash modified into as soon as led byTiger Global Managementwith necessary participation from the Iconiq, the agency that led the initial Sequence B round. These days’s investment brings the entire raised to over $120 million, in step with Crunchbase data.

Right here’s a sizable investment for a Sequence B-stage firm, and what appears to be like to be to be using this sort of gentle inflow of money is a quick-rising market with gentle interrogate for user-to-user messaging interior apps. By offering this as an API service, builders can descend the aptitude into their apps while not having to invent it from scratch. It’s an analogous price proposition as Twilio for communications or Stripe for funds.

AsSendBirdCEO John Kim educated uswithin the principle piece of the Sequence Binvestment in February, his firm is aiming to manufacture it straightforward for builders to add in-app messaging:

“We are a if truth be told versatile, fully customizable, white label messaging skill. We attain with an fully managed infrastructure. So basically, that you should also log into any mobile capabilities or web sites accessible, and consume our messaging skill.”

Kim says this day’s extra cash comes at a time when his firm is accelerating its perambulate-to-market strategy. “Initiating from advertising and marketing and gross sales, we are building the perambulate-to-market engine to scale our international presence by hiring leaders in key areas of the enterprise and building teams around those leaders. To bustle this process, we’re working with our recent traders for Sequence B, who have made many investments in our target markets and constructed trusty connections there,” Kim educated TechCrunch.

SendBird modified into as soon as founded in South Korea in 2013. These days, it has 98 staff with headquarters in San Mateo, California. It modified into as soon as a member of the Y Combinator Winter 2016 class.