SendBird Raises $52 Million Series B to Aggressively Scale to Address $4.2 Billion Market

Company adds a host of new customers including NBA, Yahoo! Sports,
Glu Mobile, Accolade, Dream11, and Zepeto amid 100x message growth

SAN MATEO, Calif.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/API?src=hash” target=”_blank”gt;#APIlt;/agt;–SendBird,
the fully customizable chat and messaging API service for mobile and web
applications, today announced the closing of a $52 million series B
round of fundraising led by ICONIQ Capital and joined by existing
investors, Shasta Ventures, August Capital, Y Combinator, and Funders
Club. SendBird will use the funding to rapidly scale the company to
fully address today’s $4.2 billion service addressable market for
user-to-user messaging services. SendBird is already the world’s most
scalable chat platform, capable of supporting over a million concurrent
connections in each application, and is used by some of the most
subscribed mobile and web apps in the world. It is ideally situated to
provide value to this rapidly growing global market.

Currently, 76% of the world population uses messenger apps. Of the 5.8
billion people who use a messenger application each month, key consumers
such as Millennials and Gen Z have already shown that messaging is their
preferred way of communicating with other people and businesses, largely
due to its immediacy and ability to connect with others online directly.
Yet, widespread global adoption of user-to-user messaging in business
applications has been hindered by key factors: the messenger app market
is consolidated among only a handful of companies and in-app
user-to-user messaging is difficult to build and maintain, not to
mention to innovate as fast as companies specializing in messaging.
SendBird solves all this with its product, chat and messaging expertise,
and rapid innovation. It gives businesses everything they need to add
user-to-user messaging to their app and maintain the best messaging
experience to keep their users engaged and use this to drive key
business goals.

“We believe in the powerful trends of messaging and chat as the modern
way customers want to communicate,” said Matthew Jacobson, General
Partner at ICONIQ Capital and new SendBird board member. “SendBird’s
market leadership as the most complete messaging platform allows
developers and businesses to truly transform the way customers connect
within their applications.”

Additionally, SendBird has extended its platform to create the most
customizable and large scale user experience possible. SendBird’s SDK
and API allow partners to ensure their messaging experience matches
their brand and technology across all apps and platforms. With support
for more 1 million concurrent connections and 500 million messages a day
per application, issues of scale disappear. The flexibility SendBird’s
platform successfully addresses the varied communication experiences of
today’s companies and gives developers the tools necessary to build them.

SendBird’s $52 million Series B round comes amid a period of tremendous
growth. The platform now works with nearly 12,000 applications and
50,000 developers. More than a billion messages are sent through its
platform every month. Additionally, SendBird has secured a number of new
marquee customers, including NBA, Yahoo! Sports, Glu Mobile, Accolade,
Dream11, and Zepeto. These deals build on SendBird’s exceptional 100x
increase in messaging activity over the past two years.

“As our customers are experiencing, chat and messaging provide the most
efficient way to connect with others today,” said SendBird CEO John S.
Kim. “We are committed to helping enterprises and organizations around
the world harness that power to improve engagement, retention, and
conversion. To this end, we will use our latest round of funding to
attract and retain talented people so we can continue creating the best
possible product and scale our go-to-market.”

“We cannot rest where we are today. Valued parts of a conversation–
such as non-verbal cues, tone, and gesturing– are missing from digital
communication,” added SendBird CTO Harry Kim. “At SendBird, we will make
chat and messaging as good as in-person communication while creating new
ways of communicating that aren’t possible offline. We look forward to
delighting customers in ways that they have yet to imagine, and are
actively building the team and technology to make it happen.”

About SendBird

SendBird is a fully customizable chat and messaging platform with a
managed infrastructure for mobile and web applications. It provides the
necessary Software Development Kits (SDK) and API, front and backend
technology so that businesses can launch a customized in-app messaging
experience quickly, efficiently, and at scale. SendBird powers in-app
conversation for the world’s leading companies in industries ranging
from marketplaces, on-demand, and gaming to online communities, video
streaming, and healthcare. It has SDKs for almost any platform,
including iOS, Android, Javascript, React Native, .NET, and Unity.

SendBird’s top global customers include NBA, Yahoo! Sports, GO-JEK,
Carousell, Virgin Mobile UAE, SEGA, Wargaming, Glu Mobile, Healthline,
TriNet, Accolade, Yell, Hinge, Kookmin Bank, LG U+, SSG. It is backed by
Shasta Ventures, August Capital, ICONIQ Capital, Y Combinator, and
FundersClub. It is based in San Mateo, California.

Please visit https://sendbird.com
for more information.

Contacts

Amber Moore
503-943-9381
[email protected]

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