by Jolie O’Dell (courtesy VentureBeat)
Seventy million dollars is a drop in the bucket compared to the enormous financial heft of the telecommunications industry. But in the world of startups, that’s still a healthy (in the Southern sense) sum.
And coincidentally, it’s the amount that telephony company Twilio has just raised in its fourth — and perhaps final — round of venture capital funding.
As Twilio CEO Jeff Lawson said in an interview with VentureBeat yesterday, “We’re in an enormous industry. Telecommunications is hundreds of billions of dollars, one of the biggest industries that there is, and it’s transitioning from a world of hardware and carriers into the future, which is a world of software.
“And in that world, APIs are the new dial tone. We want to be that dial tone.”
Twilio, which makes telephone calling and texting software APIs for developers, said the round was led by new investor Redpoint…
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