Israeli startup Rounds announces that they have raised $12 million in a Series B round. The new funding comes from Sequoia Capital, as well as Samsung Ventures and current investors Verizon Ventures, Rhodium, Tim Draper, and others.
According to the company, the new funding will be put towards continuing growth and expansion, which will entail hiring key new staff members and to build out their platform. All told, Rounds has now raised $22 million in external funding, with their most recent round having been completed back in 2011.
Rounds, which allows users to connect with each other through free, instant video chat on mobile, was founded in 2008 and currently claims 25 million users across its apps for Android and iOS, with most coming in recent months as the service has been featured in the Google Play store and App Store.
The company says that, during 94% of the video calls carried out through the platform, users take advantage of features offered, including the ability to write on the other person’s feed, play games, listen to music, play with video effects, or to take snapshots.