Twilio gets $70 mln in funding to bolster expansion plan
SAN FRANCISCO, June 12
SAN FRANCISCO, June 12 (Reuters) - Twilio Inc, a company that makes cloud-based telephony tools for companies and mobile-application developers, said on Wednesday that it has raised $70 million in new venture capital funding as part of its expansion plan to sell to larger businesses.
Redpoint Ventures and Bessemer Venture Partners led the investment, Twilio's fourth round of equity financing, with additional funding from Draper Fisher Jurvetson.
The company has now raised a total of $110 million.
Founded in 2008, Twilio provides voice-over-IP and texting services over the cloud. Uber, the car hailing app, for instance, uses Twilio to automatically send texts to a customer when a car is approaching his or her pickup location.
For Election Day in 2010, the U.S. Democratic National Committee used Twilio software to create a call center that recorded and documented reports of voter suppression and poll fraud.
Twilio, which has 150 employees based in San Francisco, is seeking to hire a sales force to sign on more national retail customers like Home Depot, which is currently a customer, Chief Executive Jeff Lawson said in an interview earlier this year.
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