SAN MATEO — Sendbird, a mobile engagement & communication company across in-app chat, voice and video, has closed $100 million in Series C funding in an oversubscribed round led by STEADFAST Capital Ventures.
Emergence Capital, Softbank Vision Fund 2*, and World Innovation Lab also participated in the round, as well as previous investors, ICONIQ Growth, Tiger Global Management, and Meritech Capital. STEADFAST Managing Director and Head of Venture Capital Karan Mehandru will join Sendbird’s board of directors.
Now valued at $1.05 billion, it becomes one of only 12 current unicorns founded out of Korea and the first in the B2B enterprise software space. Sendbird has also grown its monthly active users (MAU) and the number of applications powered by Sendbird by 3x since its Series B announcement. Over 150 million users interact on Sendbird’s chat and video platform every month through the apps of digital and mobile leaders including Reddit, Hinge, Paytm, Teladoc, Virgin Mobile UAE, and Delivery Hero.
Sendbird connects users with each other and with the brands they care about through rich in-app conversations across chat, voice, and video. Driving Sendbird’s growth is the fact that billions of consumers across the globe now accomplish more and more tasks within mobile apps, across both their home and work lives. The COVID-19 pandemic only accelerated this trend. As the largest white-label mobile conversations platform that companies can integrate into their apps and brand experience with just a few lines of code, Sendbird has seen a heavy demand for its products across industries.
“From food delivery to healthcare, education, entertainment, shopping, and so much more, every business is looking to connect digitally with its customers,” said Sendbird co-founder and CEO, John S. Kim. “Users now expect to have meaningful conversations with each other, and with the brand, inside of the mobile app– and that’s where we come in. Whether it’s coordinating with a delivery provider, getting a question answered from a seller in an online marketplace, asking another user for advice in a hobby community, or talking to a doctor in a virtual video call, Sendbird helps hundreds of millions of users connect with the brands they love and get stuff done.”