PubNub Secures $11 Million In Series B Funding To Fuel Growth Of Global Real-Time Network SCALE VENTURE PARTNERS LEADS INVESTMENT IN CLOUD-BASED INFRASTRUCTURE FOR REAL-TIME APPLICATIONS
SAN FRANCISCO, Sept. 17, 2013 /PRNewswire/ -- PubNub, the only global Real-Time Network, today announced it has closed an $11 million Series B round of funding, bringing the company's total funding to $15.5 million. The round was led by Scale Venture Partners (ScaleVP) with participation from existing investors Relay Ventures and TiE Angels. As part of the investment, Andy Vitus from ScaleVP will join the PubNub Board of Directors. PubNub is the first Real-Time Network to receive Series B funding, and will use the investment to expand worldwide sales and marketing to meet rapidly increasing demand.
Real-time interaction, including: live location tracking, multi-player games and collaborative apps is now a mainstream consumer expectation, yet building and scaling real-time experiences is complex and expensive using traditional web architectures.
"PubNub's 200x increase in traffic volume over the last 18 months validates the growing market demand for real-time applications," said Todd Greene, Founder and CEO of PubNub. "ScaleVP recognizes this trend, and has the expertise and resources to help us maximize our next stage of growth as we expand our sales and marketing operations and enter new markets."
"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," said Andy Vitus, Partner at Scale Venture Partners. "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."
PubNub's customers include: Rebtel, Viggle, GetTaxi, Humble Bundle, StageIT, Spreecast, Celly, Monotype, Class Dojo and more. PubNub has powered real-time apps for some of the world's largest events including: the 2012 Olympics, Eurocup 2012, 2012 American Music Awards (AMAs) plus the last two Super Bowl, Grammys and Academy Awards.
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