Tango Raises $40M In Series C Financing

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[Techtaffy Newsdesk]

Mobile video communications company Tango has closed a $40 million Series C round of funding with investment that included new investors Qualcomm, acting through its venture arm, Qualcomm Ventures, and Access Industries, an ndustrial holding company founded by Len Blavatnik.  The financing brings the company’s total funding to close to $100 million.

This round also sees additional investment from members of co-founder Eric Setton’s family who have been supporters of the company since the early days. Other Tango investors include Draper Fisher Jurvetson, Michael Birch, Andy Bechtolsheim, and Bill Hambrecht.

In just 18 months, 45 million people have started using Tango, over 10 percent of them use Tango every day, and 44 percent are active, says the company.

IImage Courtesy: Tango]