PubNub Closes $23 Million Funding Round to Accelerate Global Adoption of its Data Stream Network
New strategic backer Hewlett Packard Enterprise joins investment team supporting PubNub's mission to connect every device in the world and deliver large-scale realtime experiences on Mobile, Web, and IoT.
SAN FRANCISCO, April 9, 2019 /PRNewswire/ -- PubNub, the company behind the world's leading realtime Data Stream Network (DSN), today announced it has secured $23 million in Series D funding, adding strategic investor Hewlett Packard Enterprise (HPE) to the strong stable of Venture Capital and industry heavyweights backing its mission. Jai Das, President and Managing Director of Sapphire Ventures, joins the PubNub Board of Directors. With full participation from all existing investors, this new round brings the company's total funding amount to approximately $70 million.
Around the world, a revolution is occurring. Apps that deliver connected shared experiences, like live chat, rideshare, delivery, enterprise collaboration, device monitoring/control, and social gaming are changing the way that people travel, eat, work, shop, and play. PubNub's realtime messaging and edge compute platform is used by thousands of companies to power these products. The new funding will be used to accelerate the company's growth internationally, capitalizing on this growing demand, especially in emerging markets.
"Edge computing and realtime technologies will be at the heart of the next wave of technology innovation," commented Vishal Lall, COO of Aruba, a Hewlett Packard Enterprise company. "PubNub's global Data Stream Network has demonstrated extensive accomplishments powering both enterprise and consumer solutions. HPE is thrilled to be investing in PubNub's fast-growing success, and to accelerate the commercial and industrial applications of PubNub's realtime platform."
2018 saw strong growth for PubNub. An expanded executive team helped deliver strong revenue growth, while its global infrastructure expanded to deliver more than 1.3 trillion messages monthly (more than twice the world's global SMS traffic). Partnerships with the largest cloud, software, and networking providers further grew PubNub's reach. PubNub will accelerate its growth in 2019, with multiple sales and R&D offices opening throughout Q2 and Q3 this year.
"Connected shared experiences are at the heart of the world's most exciting transformations, changing every aspect of people's lives," said Todd Greene, CEO and co-founder of PubNub. "We are thankful for a world-class investment team that continues to share our vision, and are delighted to welcome the strategic thinkers and innovators of HPE into the fold."
About PubNub PubNub operates the world's leading Data Stream Network, which connects, delivers, and controls the data and logic used to power realtime applications at global scale for thousands of companies around the world including Peloton, Atlassian, and athenahealth. Combining over 70 SDKs, a global network, and blazing fast serverless edge computing, PubNub delivers twice as many messages each day as the global SMS network. Founded in 2010, PubNub is a Silicon Valley technology company backed by leading investors including Relay Ventures, Sapphire Ventures, Scale Venture Partners, Cisco Investments, Bosch, Ericsson, and HPE.