Twilio Inc. To Get US$70 Million for Expansion on Mobile Messaging

By IVCPOST Staff Reporter

Jun 07, 2013 11:46 PM EDT

Twilio Inc. has raised a total of US$70 million from venture capitalists. The company provides call and text services to mobile applications developers. Twilio Inc. stated that it has sought after said amount to cater to new customers in retail, hospitality and transportation industries.

Redpoint Ventures leads the funding including Dessemer Venture Partners and Draper Fisher Jurvetson. This was according to a statement released by San Francisco-based Twilio today. The company also added that Scott Raney will join Twilio's board.

Founded in 2008, Twilio Inc. became a hit in mobile messaging. Companies like Uber Technologies Inc. and Home Depot Inc. utilizes its services to be able to reach their clients through wireless devices. Twilio announced that it has expanded to a total of forty countries. Further, it added that their sales increased double in the past three years. Twilio didn't disclose any figures of revenue or any financials.

According to its co-founder and CEO Jeff Lawson, the market for messaging services is worth billions of dollars.

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