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Twilio Series B Press Release

Twilio Series B Press Release

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Published by Danielle Morrill
Twilio Announces $12 Million Series B Round, Led by Bessemer Ventures
Twilio Announces $12 Million Series B Round, Led by Bessemer Ventures

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Categories:Business/Law
Published by: Danielle Morrill on Nov 09, 2010
Copyright:Attribution Non-commercial

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05/12/2014

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FOR IMMEDIATE RELEASE
CONTACTDanielle Morrill415-944-1062 press @ twilio .comhttp://www.twilio.com
Twilio Raises $12 Million Series B Funding for Cloud Communications, Led By Bessemer VenturePartners
Leading Cloud Communications Service to Expand Reach, Functionality, and Service Offerings
SAN FRANCISCO, CA November 9th, 2010
-- Twilio (www.twilio.com), the cloud communicationscompany, today announced the company has raised $12 million in a Series B financing round led byBessemer Venture Partners, and including Union Square Ventures, 500 Startups, and several prominentangel investors.Twilio is the first company to offer telecommunications as a cloud-based pay-as-you-go service, providing simple tools for software developers to programmatically make and receive phone calls andtext messages. Twilio’s developer community includes over 20,000 customers, who have built a varietyof applications, including web-integrated call centers, notification systems, survey tools, groupmessaging, workflow automation, office collaboration and more.“The future of communications is being built by a new breed of innovators - including Twilio’s developer community, and notable products Google Voice and Skype,” said Jeff Lawson, CEO and Co-Founder of Twilio. “With their history of investments in this space, Bessemer is the perfect partner to help Twiliocontinue shaking up the world of communications.”“Bessemer is excited to be backing Twilio, which we see as a company at the forefront of the latest cloud-computing trend: offering a ‘platform as a service,” said Byron Deeter, of Bessemer Venture Partners.“Twilio’s highly scalable telecommunications service has spawned a wave of innovation incommunications from small and large companies alike.”Bessemer is a longtime investor in SaaS and voice, having backed companies including Skype, VeriSignand Cornerstone OnDemand. With its Twilio investment, the firm is expanding its portfolio in cloudcomputing and communications companies. Byron Deeter from Bessemer will join the Twilio Board of Directors.Twilio powers highly reliable, scalable communications applications for larger companies includingSalesforce, Ebay, and Media Temple, and provided the scalable infrastructure for a variety of applicationsfor the Democratic National Committee in last week’s national election. Twilio’s rapidly growingdeveloper community represents a wide variety of companies, from Fortune 100s to up-and-comingstartups. Twilio-powered companies like GroupMe, TextSlide, FastSociety and many others are quickly bringing their products to market, and others like Precision Polling have been acquired shortly after 
 
launch. In support of this trend, Twilio recently partnered with Dave McClure and 500 Startups to fundand incubate Twilio-powered companies with the $250,000 TwilioFund (http://www.twiliofund.com)."Twilio's rapidly growing developer community is a testament to the power and simplicity of their API,"said Albert Wenger, Twilio board member and partner at Union Square Ventures. "The new funding willlet Twilio deliver more awesome products and outstanding support to developers.”Twilio will use the money to continue expanding its offering, and is hiring positions in sales, marketing,and engineering. Interested candidates should visit http://twilio.com/jobsTwilio also announced that Ty Wang has joined the company’s management team as vice president of  business development. Mr. Wang was previously senior director of the business communications unit atOracle.
ABOUT BESSEMER VENTURE PARTNERS (http://www.bvp.com)
Bessemer Venture Partners is a global investment group with offices in Silicon Valley, Boston, NewYork, Mumbai and Tel Aviv. One of the oldest venture-capital practices in the United States, BVP has partnered as an active, hands-on investor in Ciena, LinkedIn, Postini, Skype, Staples, VeriSign, and Yelp.More than 100 Bessemer-funded companies have gone public on exchanges in Canada, India, Londonand the United States. Bessemer is also a leader in the field of cloud computing and recently published thelatest version of its popular “Bessemer’s Top 10 Laws of Cloud Computing and SaaS” whitepaper. Learnmore at www .bvp .comand www .bvp .com /cloud.
ABOUT UNION SQUARE VENTURES
Union Square Ventures (USV) is an early stage venture capital fund located in New York City with afocus on disruptive Internet businesses. USV looks to back passionate entrepreneurs in building highlyscalable services that deliver significant value to participants. USV investments include Etsy, Foursquare,Indeed and Twitter. More about USV at http://usv.com
ABOUT 500 STARTUPS (http://www.500startups.com)
500 Startups is a seed fund and mentorship-driven accelerator program that focuses on helping startupssucceed through usable design, customer-focused metrics, and online distribution. We're based inMountain View, California but our companies, mentors, and advisors come from all around the world.Learn more atwww .500 startups .com.
ABOUT TWILIO (http://www.twilio.com)
Twilio is reinventing telecom by merging the worlds of cloud computing, web services andtelecommunications. Twilio hosts a telephony infrastructure web service in the cloud, allowing web programmers to integrate phone calls and SMS messages into their applications. Twilio's simple, powerful API minimizes the learning curve required to build advanced, reliable communicationsapplications, and its pay-as-you-go pricing model means customers pay for capacity only when they needit, not before. The company was founded in 2008, and is based in San Francisco, California.#END

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