Bain Capital & Sequoia Capital Invests $10 Million Series B Funding In TokBox
“Consumers are in love with TokBox, and use it to keep in touch with friends and family around the globe,” stated Nick Triantos, CEO of TokBox. “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.”
TokBox is a “live video calling” service. TokBox and Skype have similar functionality, except TokBox can be embedded on social network profiles, blogs, and personal websites. TokBox has a “Push to Talk” button that appears on the social network applications.
TokBox has raised $10 million in Series B from Bain Capital and Sequoia Capital. TokBox’s Series A was $4 million, bringing the video chat service’s total funding to $14 million. Scott Friend (pictured above), Venture Partner at Bain Capital will join TokBox’s Board of Directors through this round of funding.
“TokBox has an impressive and very loyal and energetic user base,” stated Friend. “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 run by CEO Nick Triantos, a former Partner at Quantum Technology Partners. Youniversity Ventures, an early-stage ventural capital firm started by Jawed Karim (YouTube co-founder), Kevin Hartz (early PayPal and Friendster investor), and Keith Rabois (former EVP at PayPal) is also an investor in TokBox. Roelof Botha, a VC for Sequoia is also on the board of directors for TokBox. TokBox was founded by Ron Hose.
“Tokbox is uniquely positioned as a leader in the burgeoning consumer video communications market,” stated 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.”
The beauty of TokBox is that no download is needed to chat. It is 100% free and it has solid privacy controls. TokBox is based in San Francisco, Calif.