PubNub, a pioneer in Data Stream Network announced its raising $25 million in Series C round of funding led by Sapphire Ventures along with Robert Bosch Venture Capital Gmbh, Sound Ventures and Envision Ventures. Existing investors Relay Ventures, Scale Venture Partners and TiE Angels also took part in the round.
Founded in 2010, PubNub is international Real-Time Network that enables software developers to rapidly build and scale real-time apps by providing the cloud infrastructure, connections and key building blocks for real-time interactivity. PubNub’s data network can carry messaging for apps, IoT hardware and other low-latency services. With more than 2000 customers and partners, the startup is currently averaging 750 billion real-time transactions per month on over 300 million unique devices worldwide.
With the new funds, PubNub plans to boost the company’s global growth in industrial IoT applications, clean energy and social collaboration applications. CEO of PubNub, Todd Greene said, “The tremendous growth trajectory of the Internet of Things, coupled with the massive demand for realtime interaction on mobile and the web, represents an incredible market opportunity. We are thrilled to be working with this extraordinary group of investors whose deep expertise in a broad range of industries will help fuel our mission of connecting every device in the world in under 0.25 seconds.”
“We’re thrilled to join this investment round with PubNub, which we recognize is driving some of the hottest social and entertainment apps on the market,” said Ashton Kutcher, co-founder of Sound Ventures. “We have a tremendous amount of confidence in the management team and believe PubNub is poised for exponential growth.”
“Bosch Group’s strategic goal is to deliver innovations for connected life. RBVC, the corporate venture capital company of Bosch, invests in the most innovative startups, paying particular attention to enabling technologies within the IoT space that can help to make everything from connected devices and cars, to industrial applications and manufacturing processes more intelligent,” said Luis Llovera, managing director at Robert Bosch LLC. “With PubNub, we’re excited about how its secure, realtime and reliable Data Stream Network can be leveraged in these various IoT applications in innovative ways as it continues to expand its position in that area.”
Though the company has not disclosed its revenues or profitability , the company is growing pretty rapidly. Its well-known customers include Yahoo, McDonald’s and CBS and its new association with Robert Bosch is likely to lead to PubNub’s numbers ramping up even more with a strong boost from enterprise apps around IoT.