SendBird gets $52m to double down on chat and messaging services

Millennials are among the most powerful consumers today, and messaging is their preferred method of communication. This preference extends to how they communicate with businesses as well.

SendBird, a California-based chat and messaging platform, offers businesses a fully customizable managed infrastructure for mobile and web apps.

The platform provides front- and back-end technologies, allowing businesses to efficiently launch a customized in-app messaging experience.

The company, which also operates in South Korea, claims to have a potential market of US$4.2 billion, which is growing quickly as “businesses become educated about the omnipresence of messaging.”

Capitalizing on the opportunity, SendBird has raised US$52 million in a series B funding round led by Iconiq Capital. Existing investors Shasta Ventures, August Capital, Y Combinator, and Funders Club also participated.

The company wants to bankroll its product and platform development using the freshly raised capital. It also plans to grow its talent pool and scale its go-to-market strategy.

“We will continue to hire and retain talented people and build a product that gives customers the innovative ways to get their users talking and engaging,” says SendBird CEO John S. Kim

To date, the company supports nearly 12,000 apps and 50,000 developers on its platform. Its customers include Go-Jek, Carousell, Traveloka, Reddit, NBA, and Yahoo Sports.