Kik raises another round of funding at $19.5M to support its increasingly growing user base and hire more talent

Kik Interactive today announced another round of funding at $19.5 million to support its rapidly growing user base and hire more employees.

“[The funding] is a sign that we are trying to build a big, sustainable company,” Ted Livingston, CEO of Kik Interactive, told us in an interview. “This round gives us the resources to support the infrastructure and hire the right people to do that.”

Livingston says the new funds will help the company buy more servers to keep up with Kik Messenger’s quick growth and hire more talented people to build out its HTML5 web-based platform for its Kik Cards.

The Waterloo, Ontario, Canada-based company’s third round of funding was led by Foundation Capital, with continued support from original investors including, RRE Ventures, Spark Capital and Union Square Ventures.

Kik also announced that it’s added Foundation Capital partner Anamitra Banerji to its board of directors. Banerji is most known for previously serving as Twitter’s first product manager and 30th employee. He also drove monetization efforts while at Twitter, where he created Promoted Trends, Promoted Accounts and more.

“Not only was he at this huge social company from early on, but was also instrumental in monetizing it,” Livingston says. “You couldn’t ask for a better guy.”

Kik’s latest funding round now brings its total funding to $29.1 million.

“We now have the resources to lead the mobile web revolution, and that’s what we’re going to do,” he says “We had the team, we had the technology, we had the user base, we had the money. Now we get to go for it.”

Publish date: April 22, 2013 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT