SendBird, the Korean startup that helps businesses add messaging to their apps with a couple of lines of code, has raised $50 million dollars’ worth of investment in the continuation of its Series B round. The total investment for SendBird this year goes to $102 million with $52 million raised earlier in February.
The latest investment is led by Tiger Global Management with significant contribution from Iconiq Capital, the investor that had led the initial Series B round in February. The San Mateo-based SendBird was founded in 2013 and has raised $120 million since then.
The additional investment in Series B level indicates the potential of the startup in the growing market for messaging tools inside apps. SendBird’s surge also represents the mass appeal for platforms with Chat APIs like Twilio or MessageBird.
With the initial funding in February, the startup had announced its plans to invest in two key areas to build the top-notch Chat API and scale the marker globally. The additional funding will further push SendBird’s growth initiatives.
SendBird had revealed in 2018 the number of messages sent through its platform tripled to over 1 billion each month, and it claimed 50 million people are now using apps that leverage its technology. SendBird has also added a handful of new offices, including one in London, Singapore, and Bengaluru.