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Technology / Software

Twilio raises $70m to boost mobile messaging

The voice and texting software provider to mobile-application developers, Twilio, has raised $70m from venture capitalists, as part of its efforts to add new customers in retail, transportation and hospitality sectors.

Being raised under the Series D round, the funding has been led by Redpoint Ventures and existing investors Bessemer Venture Partners, with support from Draper Fisher Jurvetson.

Twilio co-founder, chief executive officer Jeff Lawson said that the market for messaging services could be worth billions of dollars.

"We helped developers and corporations realise they can tap the power of the cloud for voice and messaging services," Lawson said.

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"This represents a multibillion-dollar market opportunity."

Claimed to be operating in about 40 countries globally, the firm reported to have doubled its sales in each of the past three years.

Established in 2008, Twilio has been riding a boom in mobile messaging, as firms including car-hire app Uber Technologies and Home Depot deploy its service to reach users over wireless devices.

This article is from the CBROnline archive: some formatting and images may not be present.

CBR Staff Writer

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