Israeli startup Life On Air Inc. has raised $52 million for its live video chat app Houseparty. The financing round was led by Sequoia Capital with the participation of previous investors Aleph VC, Comcast Ventures and Greylock Partners. The company has raised $70 million to date and the "Wall Street Journal" reports that the venture capital funds were competing to invest in the latest financing round.
Houseparty is an immensely popular app, launched in early 2016, which allows large groups to participate in live chat if they are members in the chat group. Thus participants can know exactly who they are chatting with. Houseparty has been one of the most downloaded apps this year from Apple's iStore.
Houseparty is a second app for Life on Air, whose first product was live-streaming smartphone video app Meerkat, which failed after being frozen out by Twitter.
Life on Air is headquartered in San Francisco with its development office in Tel Aviv. The company was founded by CEO Ben Rubin, CTO Itai Danino, COO, Roi Tirosh and Head of Product Uri Haramati.
Published by Globes [online], Israel business news - www.globes-online.com - on December 11, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016