TokBox, a San Francisco-based provider of Web-based video communication services, has raised $10 million in Series B funding. Bain Capital Ventures led the round, and was joined by return backer Sequoia Capital. It had previously raised $4 million.
TokBox, a first-of-its-kind web-based video communication service that offers consumers free and effortless video calling, today announced the closing of a $10 million Series B financing round led by Bain Capital Ventures. Sequoia Capital, which led the Series A investment in TokBox, also invested in the new round. TokBox will use the new funding to build out its executive team and drive continued expansion of the company's user base both in the U.S. and worldwide.
In recent months, TokBox has added new features and functionality to enhance the consumer experience, including integrating its video capabilities into Facebook chat and providing an easy-to-use downloadable version of the application. The company also recently announced the appointment of Nick Triantos, technology veteran and video expert, as CEO.
“Consumers are in love with TokBox, and use it to keep in touch with friends and family around the globe,” said Triantos. “We're proud of the service we've created and how easy it is for anyone to use TokBox. We are grateful that a world-class venture firm like Bain Capital Ventures also sees our potential, and are thrilled to have them join Sequoia Capital as investors in TokBox.”
Since launching in October 2007, TokBox has grown rapidly and is already being used in a variety of interesting ways — from people staying in touch with distant relatives and friends chatting during school holidays to online dating and job search. In addition, TokBox gives users the tools to add a video communication element to their blog, social networking or commerce and community sites profile by embedding the unique application directly into the page.
“TokBox has an impressive and very loyal and energetic user base,” said Scott Friend, Venture Partner at Bain Capital Ventures. “The company is executing well and its service offers consumers a variety of great features that strongly differentiate TokBox from competitors. We are excited to be investing with our partners at Seqouia in a company we believe has the potential to be the next 'big thing' in web communication.”
“Tokbox is uniquely positioned as a leader in the burgeoning consumer video communications market,” said Roelof Botha of Sequoia Capital. “Their ultra-simple user interface sets a new bar for ease-of-use for consumers to hold video calls with their friends and family around the world. We're very happy with their growth to date, which is why we are enthusiastic to participate in their Series B investment.”
For more information about TokBox, please visit http://www.tokbox.com.
TokBox is a first-of-its-kind consumer video communication service that helps people talk face-to-face with a single click. Offering both a web-based and a downloadable version, TokBox requires no registration, no configuration or any other hassle. TokBox also lets users send video mails to anyone with an email address, and embed video communication into any website (e.g. blogs, social networks or dating sites). Located in San Francisco, California, TokBox is privately held and currently recruiting skilled professionals who like to create great products and have fun. For more information, visit http://www.tokbox.com or follow product updates at http://www.tokbox.com/blog.
About Bain Capital Ventures
Bain Capital Ventures is the Boston-based venture capital group of Bain Capital, whose affiliates manage over $75 billion of assets. Founded in 1984, Bain Capital and its affiliates have invested in over 300 companies with such notable successes as DoubleClick, Gartner Group, Taleo, ProfitLogic, m-Qube and Staples. Bain Capital's history of investing in early stage companies dates back to 1984, having made over 120 venture-stage investments since inception. Since 2000, the dedicated venture group has focused exclusively on growth investments. Bain Capital Ventures currently has over $1 billion under management and invests in software, wireless, information-services, healthcare, technology-driven business services, retail, internet and consumer businesses. Bain Capital Ventures makes investments across all stages of a company's growth: from providing seed capital through offering late stage growth equity. For more information, please visit http://www.baincapitalventures.com.
About Sequoia Capital
Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into companies. As the “Entrepreneurs Behind the Entrepreneurs”, Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of Network Appliance, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of nVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube and Dominic Orr and Keerti Melkote of Aruba Wireless Networks. To learn more about Sequoia Capital visit http://www.sequoiacap.com.