The $18m series C round, led by Sorenson Capital and with participation from Intel and NHN Investment (the corporate venturing arm of Korea chip maker NHN), brings Nexmo’s total funding up to $22.8m.
Nexmo is a cloud-based universal interpreter between the telecom networks and new IP-based internet services and mobile apps. It has based its services on messaging, but is expected to launch new products based on voice so that text messages can be transferred into speech. According to technology trade news sources, applications, such as Viber and Line use Nexmo to verify user identity with SMS and Airbnb uses Nexmo for its external push messaging.
In 2012 the company raised $500,000 and later between 2012 and 2013 it raised 4.3m in a series A round that had three closes. Initial Capital is also an investor in the company.