Stream, a leading provider of APIs for building and scaling chat and activity feeds, recently announced that it has raised $38 million in a Series B funding round. The round was led by Felicis Ventures and brings Stream’s total funding to date to $53 million.
Stream was founded in 2015 by Thierry Schellenbach and Tommaso Barbugli with the goal of making it easier for developers to add chat and activity feeds to their applications. The company’s APIs allow developers to add features such as real-time chat, notifications, and activity feeds to their applications with just a few lines of code. Stream’s customers include a wide range of companies, from small startups to large enterprises, and the company’s technology is used by over a billion end-users.
The new funding will be used to accelerate Stream’s growth and product development. The company plans to expand its engineering team, increase its global presence, and invest in new product initiatives. One of the key areas of focus for Stream will be to expand its support for new platforms and programming languages, making it even easier for developers to integrate its technology into their applications.
Stream has already seen impressive growth in recent years, with its revenue growing 400% year-over-year. The company has also expanded its customer base, with over 100 new customers joining in the last quarter alone. Stream’s success is a testament to the growing demand for chat and activity feeds in modern applications, as users increasingly expect real-time communication and updates.
In a statement, Thierry Schellenbach, CEO of Stream, said: “We’re thrilled to have the support of Felicis Ventures and our other investors as we continue to build the best APIs for building and scaling chat and activity feeds. With this new funding, we’ll be able to accelerate our growth and continue to deliver value to our customers.”
Stream’s success also highlights the growing importance of APIs in modern software development. As more and more companies move towards a microservices architecture, APIs are becoming increasingly critical for connecting different parts of an application. Stream’s focus on delivering high-quality APIs that are easy to use and integrate has helped the company stand out in a crowded market.
Overall, Stream’s latest funding round is a significant milestone for the company and a testament to the growing demand for its technology. With the additional funding, Stream will be well-positioned to continue its growth and provide even more value to its customers.