Video chat developer Rounds raises $3m

Verizon Investments Inc. led the round, and was joined by current investor Rhodium and Draper Fisher Jurvetson (DFJ) managing partner Timothy Draper.

Video chat developer Rounds Ltd. has raised $3 million. Verizon Investments Inc. led the round, and was joined by current investor Rhodium and Draper Fisher Jurvetson (DFJ) managing partner Timothy Draper. Rounds will use the proceeds to expand its interactive live hangout platform for online face-to-face socializing.

Rounds plans to extend its web-based "communitainment” solution beyond its its current Facebook application to other consumer social networks, as well as mobile devices, making it possible to reach a larger audience in today’s preferred digital environments. It plans to offer premium games and activities through partnerships, and to create richer content by expanding its community of developers who use the company's platform.

Rounds' platform enables users to video chat face-to-face, play real-time games or watch YouTube videos together, listen to music, take photo booth snapshots and apply funny webcam effects in a safe and fun setting that simulates a real-world game room. The service is free. The company claims to have three million users worldwide and 650,000 sessions daily.

Rounds CEO Dany Fishel said, "The mobile industry is one of the next frontiers for the Rounds platform, and having Verizon as our strategic investor will aid us in our efforts as we move forward."

Published by Globes [online], Israel business news - www.globes-online.com - on November 2, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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