US-based communications technology developer Agora has raised $70m in a series C round backed by quantitative trading and technology firm Susquehanna International Group (SIG), VentureBeat has reported.
The round was led by hedge fund Coatue Management and included investment group Morningside and venture capital firm Shunwei Capital.
Founded in 2014, Agora provides a software development kit (SDK) that enables developers to more easily integrate audio and video communications as well as livestreaming functionality into their software and games.
The SDK relies on Agora’s cloud-based platform, removing the need for developers to build their own infrastructure. Agora claims it has clocked more than 2 billion installations of its SDK to date.
The series C funding will support global expansion activities, following the company’s recently unveiled plans to develop localised offerings in Europe, Japan and India. It already operates satellite offices in Shanghai, China.
Agora has raised $125m in funding to date according to VentureBeat, and most recently closed a $50m series B round in mid-2017 when it closed a $30m second tranche featuring SIG, Morningside, Shunwei, GGV Capital and IDG Ventures.
The second close was only disclosed in June this year, and followed a $20m first tranche backed by SIG, IDG, Morningside and GGV in 2015.
Tony Zhao, Agora’s chief executive, said: “The internet has steadily transformed the way people communicate over the last decade, but these interactions will continue to shift as technology advances at a rapid pace.
“We are creating a new category of real-time communications that puts engagement at the core of the user experience, and we will continue leveraging our unique technology and global reach to further transform the space.”
