Chat API Developer Sendbird Now a Unicorn After $100M Series C Raise

More businesses are turning to mobile conversations to further customer engagement. With its fresh Series C funding for its communication software, Sendbird is looking to lend a hand.

Written by Ashley Bowden
Published on Apr. 06, 2021
Chat API Developer Sendbird Now a Unicorn After $100M Series C Raise
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photo: sendbird

Nowadays, it’s the norm to get in touch with someone from the other side of a screen by texting or making a FaceTime call. In today’s digitized world, more enterprises are undergoing a shift to incorporate features that enable better communication with their customers. Coming to their aid is Sendbird, a provider of chat, voice and video services, with $100 million in fresh funding.

The company’s oversubscribed Series C round was led by Steadfast Capital Ventures and brings Sendbird’s post-money valuation to $1.05 billion. Its products help enterprises across several industries integrate communication capabilities into their mobile platforms. Some of its customers include big names like Reddit, Paytm, Delivery Hero and others.

“From food delivery to healthcare, education, entertainment, shopping, and so much more, every business is looking to connect digitally with its customers,” John Kim, Sendbird’s co-founder and CEO, said in a statement. “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. Sendbird helps hundreds of millions of users connect with the brands they love and get stuff done.”

Sendbird has seen significant growth during the past year as the COVID-19 pandemic has fueled more people to use mobile apps to complete tasks, be they work-related or personal. To boot, more companies have turned to mobile conversations to boost customer engagement and retention, leading Sendbird to triple its customer count since the close of its Series B back in 2019. Currently, more than 150 million monthly users go through Sendbird’s interfaces for text and video chat with one another and larger groups.

The startup is looking to invest its latest round of funding in R&D, aiming to help its customers get the most out of its products like Sendbird Calls. In doing so, Sendbird is hiring for several positions around the world, including a few based out of its San Mateo headquarters with roles available in engineering, marketing and more. It’s also looking to expand its products into additional markets.

“Our customers operate in highly dynamic and competitive environments,” Kim said. “Helping them launch new mobile experiences quickly and see better business outcomes — that’s where our focus is.”

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