Video Startup Tango Takes Fresh $40M
In other mobile video news, Tango has just has raised another $40 million in a third round of funding from Qualcomm Ventures and Access Ventures. The news comes about a year after the cross-platform video chat startup closed its last round of $42 million. “Forget Apple’s Facetime,” VentureBeat half-jokes. “If there’s one app that shows the potential in the mobile video chat market, it’s Tango.”
Encouraging backers, the startup continues to see incredible growth as well, reaching 45 million users a mere 18 months after its debut. Looking ahead, Tango CTO and co-founder Eric Setton says: “The round is a license to operate with a slightly bigger vision … It’s not that we’re going to hire a 100 extra people… we want to be able to accelerate and deliver more on our roadmap.” As VB explains, “That road map includes honing the company’s video and audio quality, and ensuring a great experience for all of its users.”
According to Settons, 44% of Tango’s users are active monthly, and 10% of them use the app every day. Adds VB: “There’s a snowball effect to the app, as calls increase significantly when new users jump in.” Indeed, Settons says daily calls almost doubled in the last four months. Currently, Tango offers apps for iOS, Android, Windows Phone, and Windows PCs.