PubNub announces Series B funding round closure
The only global Real-Time Network, PubNub recently announced it had closed a Series B funding round raising USD11 million. With this investment, the total funding of the firm increased to USD15.5 million. The funding round was led by Scale Venture Partners together with other investors Relay Ventures and TiE Angels.
Part of the investment agreement includes the appointment of ScaleVP's Andy Vitus would be joining the board of directors of PubNub. Furthermore, the funding would be used to expand sales and marketing efforts worldwide in order to meet the increasing demand for the company's services.
According to Scale Venture Partners Partner Andy Vitus, "We see a major market shift to real-time applications and PubNub is leading that advancement. The company is enabling their customers to rapidly develop and, more importantly, scale real-time applications. PubNub is an exciting addition to our portfolio and I look forward to working with Todd and his team, and seeing the modern apps that their customers bring to market."
The Real-Time Network of PubNub provides cloud infrastructure and building blocks for rea-time apps that can be scaled according to any accesing device. The system provides real-time experiences such as live dashboards an streams as well as collaboration and many more.