Canadian Startup Kik Raises $19.5 Million in Series B Funding

Posted by Rob Lewis

Waterloo's Kik Interactive has closed $19.5 million in Series B funding to "support continued platform development and drive the company towards monetization."

Kik says the round is led by Foundation Capital, with participation from original investors RRE Ventures, Spark Capital, and Union Square Ventures. Kik also announced the addition of Anamitra Banerji, partner at Foundation Capital, to its board of directors. Banerji joins the board to help guide and support Kik’s "exponential growth and continued innovation." 

 

RELATED: Kik Founder the Only Tech Entrepreneur to Make List of Canadians Under 25 to Watch

“This is an extremely exciting time for Kik. We’re seeing our user base grow like crazy as we continue building out what we believe is the best one-to-one messaging experience on mobile,” says Ted Livingston, CEO of Kik.

"The new funding will strengthen our development efforts as we begin to leverage Cards as one of our routes towards monetization," he added.

Launched in 2009, the Canadian startup recently surpassed 50 million users and is adding 200,000 new users per day.

"Messaging is core to the mobile experience, and Kik is changing the way people - especially the 'born-mobile' generation - connect with each other and the apps they love," says Banerji. "There are similarities between Kik and Twitter when it comes to growth, engagement and vision. We are excited to help Kik bring its fast, simple and rich experience to every mobile user around the world."

Kik ranks 30th on the Canadian Startup Index.

Company:
Kik Interactive
Website:
http://www.kik.com
Location:
Waterloo, Ontario, Canada

Kik Interactive was founded in 2009 by a group of engineers with an endless vision to create a world of seamless mobile computing. In April 2010, Kik released the universal, free texting app for BlackBerry and iPhone, empowering users to message any of their friends in real time without paying unruly SMS fees. Chat is the foundation for the unfolding Kik community, which will also soon include music, pictures and... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media Inc. and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can... more



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