AMSTERDAM/LONDON - – Dutch start-up messaging company MessageBird has landed $60 million in first-round funding, the most noteworthy ever early-stage venture capital funding right in to a European software program company.
MessageBird helps 15,000 organizations send messages or communicate with customers via chat, voice or video. Clients vary from corporations akin to Uber, SAP & Heineken, to governments & semi-public organizations in that use it for emergency messages & medical appointment notifications.
The Amsterdam-based firm competes within the fast-growing cloud-based messaging market with greater than a dozen firms, together with Twilio, Blackberry, Nexmo & Urban Airship.
The unusually large 1st spherical fundraising is 'cause of the company having had virtually no outside funding 'cause it was founded in 2011, which forced it to be profitable from the beginning. It expects to generate revenue of $100 million in 2017.
â€œWe have been growing about 100 % a yr for a few years of time of time now,â€� Robert Vis, MessageBirdâ€™s 33-year-old founder & chief executive, stated in an interview. â€œWe are all the time looking at methods to sustain thatâ€�.
The so-called â€œSeries Aâ€� funding spherical of $60 million was led by Accel Partners of Silicon Valley & joined by Atomico, a top European venture firm, together with seed stage investor Y-Combinator.
Messaging software program makers face mounting competition together with from broad-based cloud services suppliers akin to Microsoft, Cisco, & Amazon, which earlier this yr introduced its Connect embedded phone services at costs one analyst estimated at about 40 % lower than Twilioâ€˜s.
What sets MessageBird apart is in that it has forged deals & built interfaces with 220 telecom carriers worldwide, making it the one comparable platform running on telecoms carrier-grade infrastructure quite than over the web. This enables it to speed delivery & assure high quality of messages at lower prices.
â€œUntil MessageBird, nobody within the space had successfully built the relationships & technology at scale to directly (connect into) telecommunications carriers across the world,â€� stated Atomico Partner Hiro Tamura, who will join the companyâ€™s board.
Its services can reach billions of cell phones, it stated.
MessageBird stated it planned to use the funding to accelerate hiring & target new customers & little acquisitions in the USA, Europe & Asia.
With 75 staff, up from 25 in 2015, MessageBird generates greater than $1 million in revenue per employee, â€œsomething of a magic number for us,â€� Vis stated.
Vis stated the funding would additionally raise its profile & bolster its stability sheet, both of which can reassure high-value potential customers akin to banks of its endurance.
Despite having most of the business & monetary metrics which have led rivals similar to Twilio to stock market flotations, Vis stated he has no intention to hunt an IPO â€œfor years of time of time to return.â€�
Reporting by Eric Auchard & Toby Sterling; Editing by Mark Potter