- Stream, which lets developers build chat and activity streams into apps.
- Stream raises $38M as its chat and activity feed APIs power communications.
- This Series B round is being led by Felicis Ventures’ Aydin Senkut.
- The company’s valuation chat revenue grew by 500% in 2020.
Stream provides APIs which enable product teams to build chat and activity feeds for their applications at scale in a fraction of the time and cost of developing in-house. Stream powers in-app experiences for more than a billion end-users, working with customers in segments as diverse as healthcare, education, finance, virtual events, dating, and social. Notable customers include TaskRabbit, NBC Sports, Unilever, Delivery Hero, Gojek, eToro, and Stanford University.
The investment comes after the company experienced a 517% increase in revenue from its chat API product in 2020. More than doubling its chat and activity feed user base to support over one billion end users. As organizations moved swiftly in the past year to expand online operations and fuel virtual communication, many turned to Stream’s chat API and SDKs to efficiently implement messaging solutions.
Stream Raises $38M for chat and activity feed.
Stream has closed its $38 million Series B funding round. Felicis Ventures led this round. Aydin Senkut with participation from Series A lead investor GGV Capital and 01 Advisors. This round follows just six months after our $15 million Series A in August, bringing total financing to $53 million.
This Series B round is being led by Felicis Ventures’ Aydin Senkut. Previous backers, GGV Capital, and 01 Advisors (the fund co-founded by Twitter’s former CEO and COO, Dick Costolo and Adam Bain) also participating. The company already has amassed a list of notable customers, including Ikea-owned TaskRabbit, NBC Sports, Unilever, Delivery Hero, Gojek, eToro, and Stanford University, as well as a number of others that it’s not disclosing across healthcare, education, finance, virtual events, dating, gaming and social. Together, the apps Stream powers cover more than 1 billion users.
Stream, allows developers to create chat and activity streams in apps
Stream is the best-in-class, enterprise-grade chat and activity feed provider that serves over a billion end users. Stream’s feature-rich products include robust client-side SDKs for iOS, Android, React, React Native, Flutter, and support for the most commonly used server-side languages; scalable and secure APIs; and a beautiful UI kit.
Stream is the fastest, most scalable solution on the market today. It enables application product teams to increase user engagement and retention and decrease time to market. Stream is headquartered in Boulder, Colo. with an office in Amsterdam
Stream’s technology addresses a common problem in product development by offering an easy-to-integrate and scalable messaging solution,” said Dick Costolo, co-founder and managing partner of 01 Advisors, and former Twitter CEO. “Beyond that, their team and clear vision set them apart, and we ardently back their mission.”
Stream supports a wide range of customers – from startup to enterprise with a variety of plans and ease of customization to fit their individual needs. Regardless of size, product teams trust Stream to launch faster, iterate more often, and ship a better user experience. Stream plans to invest in scaling its global team. In 2020, the team tripled in size, and the personnel growth will continue with the new funding.