Rounds Video Chat App Raises $12m in Funding

By Tim Maytom

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Video chat app Rounds has raised $12m (£7.9m) in a Series B round of funding, with venture capital firm Sequoia Capital and Samsung Ventures, the tech company’s funding wing, leading the investment.

Existing capital partners including Verizon Ventures, Rhodium and other private investors also took part in this round of funding. The latest round of investment will be used to support the company’s growth, with key new hires across various departments and expand the platform.

Rounds‘ unique approach and increased engagement was different than any other video chat experience we’ve seen and is what triggered our belief in the company spearheading a new type of video chatting experience, one where instant conversations, fun content and pure entertainment lead the way,” said Shmil Levy, partner at Sequoia Capital’s Israel branch.

“As a firm we’ve been active in the mobile messaging space, watching the evolution of communication very closely. We believe the next generation is about instant video chatting and interactivity and this is exactly what we see in Rounds.”

Rounds currently has 25m users worldwide, most of whom joined in recent months as the app has increased in popularity. The app enables users to hold interactive conversations with friends …read more

Source:: Mobile App News

      

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