California and Shanghai based cloud communication platform Agora.io has announced a fresh fundraising of $70 million in Series C investment. New York based Coatue Management led the investment round which saw participation from existing backers that include SIG, Morningside Capital, and Shunwei Capital. The fresh funding round takes the total amount raised by the firm to $125 million.
Notably, the firm had raised about $30 million just five months ago during the Series B round funding. The company counts the likes of Xiaomi, Momo, The Meet Group, and Hike Messenger as the top names that are using the services of the platform. Notably, all the companies are based out of Asia. With the fresh investment, Agora plans to expand their business globally.
Started in 2014 by Tony Zhao, the platform claims to have more than two billion SDK installations and says which it routes about 200 distributed data centers across the world. The company helps customers integrate voice and video calling and broadcasting features through their APIs into the applications of the customers. The company has more than 200 employees across their offices in Beijing, Shanghai, and Santa Clara.
Zhao, the CEO and founder of the firm talking about the company said, “The Internet has steadily transformed the way people communicate over the last decade, but these interactions will continue to shift as technology advances at a rapid pace. We are creating a new category of real-time communications that puts engagement at the core of the user experience, and we will continue leveraging our unique technology and global reach to further transform the space.”
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