Led by Sapphire Ventures, New Investment Will Accelerate Growth and Focus on IoT
SAN FRANCISCO — July 1, 2015 — PubNub, the leading Data Stream Network for mobile applications and IoT (Internet of Things), today announced that it has secured $20 million in Series C funding led by Sapphire Ventures with participation from existing investors, Relay Ventures and Scale Venture Partners. PubNub will use this latest round of capital to fuel its global growth and cement its position as the leading Data Stream Network specifically designed for secure, real-time communication over the Internet. The funds will also accelerate PubNub’s plans to scale up sales and marketing operations to meet the rapidly increasing demand for its real-time Data Stream Network.
“Sapphire Ventures is thrilled to back PubNub and lead this financing as the company is experiencing remarkable growth in usage and number of messages delivered per second globally,” said Jai Das, managing director, Sapphire Ventures. “We’re seeing a paradigm shift from data at rest to data in motion, but the infrastructure needed to scale and connect real-time data streams for app-to-app communications as well as for communications between IoT devices is costly and cumbersome. PubNub’s global Data Stream Network is an API-based service that solves both the scaling and security challenges of real-time data streams for web and mobile applications as well as IoT devices. The customer feedback for the company’s service was off the charts and we see a bright future ahead.”
Unlike traditional Internet request/response communication models, PubNub enables two-way communication and device control in 1/10 of a second or less worldwide via an easy-to-use API and a powerful set of value-added features. By using PubNub, developers have the ability to create the real-time interactions that customers have come to expect. With over 2,000 customers and partners, PubNub is currently averaging 20 million real-time transactions per minute on over 200 million devices worldwide.
“The coming explosion in growth of IoT devices combined with the existing massive demand for mobile and web real-time interaction represents an extraordinary market opportunity,” said Todd Greene, CEO of PubNub. “Sapphire Ventures brings deep infrastructure expertise, a shared vision and commitment to our company’s global growth and success evidenced by its market development team. We’re excited to work with Sapphire Ventures, Relay, and Scale to achieve our vision to connect every device on the planet in real-time.”
PubNub is transforming how people live, work and play within virtual environments. Powered by a platform to build and operate real-time interactivity within mobile, web and IOT apps, our chat, live audience engagement, geolocation and dispatch, multi-user collaboration, and other forms of real-time use cases are enjoyed by millions of people across the globe every day. Founded in 2010, over 2000 companies worldwide choose PubNub because of the speed, reliability, and scalability of our platform and because we help their customers feel more connected to one another, the brand, and the product experience.
About Sapphire Ventures
Sapphire Ventures is focused on helping today’s most innovative technology companies become global category-defining leaders. Leveraging nearly two decades of experience and an extensive global enterprise network, Sapphire Ventures invests capital, resources and expertise to enable its portfolio companies to scale rapidly. Whether entrepreneurs sell to businesses, consumers or both, Sapphire Ventures offers a powerful platform for business development and operational excellence to help them accelerate growth. With $1.4 billion under active management via direct growth investments and an early-stage fund investment strategy, Sapphire Ventures is uniquely positioned to elevate companies to the global stage. Find us in Palo Alto and London and at www.sapphireventures.com. Follow us @sapphirevc