Total amount raised
$170.7 Million
Latest funding date
3/1/2021
Location
Sendbird has successfully raised funding over 9 rounds, with the latest being a "Venture - Series Unknown" round. The company is backed by 25 investors, including Capstone Partners and Empede Capital.
Sendbird offers an AI-driven customer experience platform for enterprises, featuring delight.ai and a communications API that powers billions of conversations monthly. Keep reading to explore the intricacies of Sendbird's fundraising journey and the investors backing this innovative platform.
What Is Sendbird?
Sendbird, headquartered in San Mateo, California, specializes in developing APIs for messaging, mobile, and video chat applications. The company operates within the AI customer experience and communication solutions industry.
With a workforce of 251-500 employees, Sendbird offers products like delight.ai and a communications API that supports billions of conversations monthly. The company is known for its high growth score and significant funding rounds, backed by 25 investors.
How Much Funding Has Sendbird Raised?
- Seed Round
- Amount Raised: USD 120,000
- Date: March 2016
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and gain early traction in the market.
- Seed Round
- Amount Raised: USD 2,600,000
- Date: June 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: USD 16,000,000
- Date: December 2017
- Lead Investors: August Capital, Shasta Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series B
- Amount Raised: USD 102,000,000
- Date: February 2019
- Lead Investors: ICONIQ Growth, Tiger Global Management
- Valuation at Round: Approximately USD 550,000,000
- Motivation Behind the Round: To scale the business and enhance the platform’s capabilities to attract more users and clients.
- Series C
- Amount Raised: USD 100,000,000
- Date: April 2021
- Lead Investors: Steadfast Financial
- Valuation at Round: USD 1,050,000,000
- Motivation Behind the Round: To aggressively accelerate R&D efforts and expand the workforce across global hubs.
- Secondary Market
- Date: August 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series Unknown
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and expansion initiatives.
Total Amount Raised: USD 220,720,000. Current Valuation: USD 1,050,000,000.
Key Investors
- Steadfast Financial
- Details: Steadfast Financial is a venture capital firm that led Sendbird's $100 million Series C funding round. Karan Mehandru, a partner at Steadfast, joined Sendbird's board following the investment.
- Investment Focus Areas: Not explicitly mentioned.
- Notable Investments: Not explicitly mentioned.
- SoftBank Vision Fund 2
- Details: SoftBank Vision Fund 2 is a global investment fund that focuses on technology companies with high growth potential. It participated in Sendbird's $100 million Series C funding round.
- Investment Focus Areas: Technology, AI, robotics.
- Notable Investments: Uber, WeWork, ByteDance.
- ICONIQ Growth
- Details: ICONIQ Growth is a venture capital firm that has been a previous backer of Sendbird. It participated in the $100 million Series C funding round.
- Investment Focus Areas: Technology, enterprise software, consumer internet.
- Notable Investments: Snowflake, Datadog, Uber.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on public and private companies in the global internet, software, consumer, and financial technology industries. It participated in Sendbird's Series C funding round.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Meritech Capital
- Details: Meritech Capital is a venture capital firm that invests in late-stage technology companies. It has been a previous backer of Sendbird and participated in the $100 million Series C funding round.
- Investment Focus Areas: Technology, enterprise software, healthcare.
- Notable Investments: Facebook, Salesforce, Tableau.
What's Next for Sendbird?
Sendbird stands at the cusp of significant opportunities, driven by the growing demand for integrated communication features in mobile apps. With a user base of 150 million and a valuation of $1.05 billion, the company is poised to expand its offerings to include payments, logistics, and group audio conversations. This expansion aligns with the broader industry trend of digital transformation and the increasing reliance on APIs for real-time communication.
Future fundraising opportunities appear promising, given the company's successful Series C round and its potential for further growth. Sendbird may attract additional venture capital or even consider an IPO as it continues to innovate and expand its market presence. However, the company will need to navigate challenges such as intense competition and the need for continuous innovation to stay ahead in the rapidly evolving digital communication space.
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