“The coming explosion in growth of IoT devices combined with the existing massive demand for mobile and web realtime interaction represents an extraordinary market opportunity,” said Todd Greene, CEO of PubNub.
SAN FRANCISCO, CA (PRWEB) July 01, 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, realtime 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 realtime 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 realtime 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 under ¼ second 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 realtime 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 realtime 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 a secure global Data Stream Network (DSN) and easy-to-use API that enables its customers to connect, scale, and manage realtime applications and IoT devices. With over 70 SDKs for every platform, 250ms worldwide data transfer times and scalability for hundreds of millions of devices, PubNub’s unique infrastructure provides the ability to easily connect and operate world-class realtime applications and IoT devices. PubNub is headquartered in San Francisco. Visit PubNub online at http://www.pubnub.com, Twitter, LinkedIn, Vimeo and Facebook.
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 http://www.sapphireventures.com. Follow us @sapphirevc.