Daily Raises $40 Million Led By Renegade Partners To Scale Its WebRTC Video And Audio APIs For Developers
Roseanne Wincek, Co-Founder and Managing Director of Renegade Partners, and Lee Edwards, Partner at Root Ventures, Join the Board
Daily, the WebRTC developer platform, has raised $40M in Series B funding to support the expansion and growth of its video and audio API offerings. This brings the total funding for Daily to more than $60 million. This round was led by Renegade Partners, with new investors including Heritage Group, Cendana Capital, and Sean Rose, and participation from current investors including Lachy Groom, Tiger Global, Freestyle Ventures, Root VC, Slack Fund, Moxxie, Haystack Ventures, Todd & Rahul’s Angel Fund, David Eckstein and Aston Motes. Joining the board are Roseanne Wincek, Co-Founder and Managing Director of Renegade Partners, and Lee Edwards, Partner at Root Ventures.
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Daily handles all the complexities of WebRTC video and audio. Developers using Daily can rapidly add real-time video and audio features to any product — for video calls, audio-only apps, webinars, live classes, interactive collaboration, ecommerce, customer support, IoT and robotics, and use cases across verticals.
“The past 18 months have been an incredibly exciting time,” said Kwindla Hultman Kramer, Co-Founder and CEO of Daily. “We focus on providing developer resources, so engineering teams can build for the widest possible variety of use cases. We have seen a 10x increase in customers and have increased our call capacity to 1,000 person, fully interactive, sessions, making Daily even more useful to the developers that need our product. We are excited to use this new capital to continue to scale our business.”
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Video and audio calls have seen explosive growth across all verticals, yet it remains challenging for product teams to build and scale real-time audio and video features. Daily solves this, with WebRTC APIs that work across browsers and devices, delivering high-quality calls to users on any network anywhere in the world. With just two lines of code, a developer can embed a secure, fully working video call with pre-built features. Developers can also use Daily’s client libraries to build customized user interfaces. Customers who migrate their platforms to Daily see reduced time to market, lower maintenance costs, and as much as an 80% drop in video call errors.
“When I discovered Daily, I knew that I not only needed to invest, but wanted to get as involved as possible,” said Roseanne Wincek, Co-Founder and Managing Director of Renegade Partners. “Video and audio are central to the digital future, and are crucial now more than ever before. Companies are adapting to this new standard, and I’m excited to work with Daily at this critical stage of its growth, helping them build customer relationships across the world.”