TokBox, a San Francisco, CA-based Web video communications provider, has raised $12m in its third round of venture capital funding.
The was led by DAG Ventures, with participation from existing investors Bain Capital and Sequoia Capital.
TokBox intends to use the capital to fund its strategic growth as the company launches OpenTok, a new platform, which is designed to enable businesses, entrepreneurs, developers and others with a Web presence to weave live group video chat into their experience.
The platform is scalable and customizable and accommodates up to 20 chat participants live with thousands watching.
TokBox already provides solutions for video chat, video meeting and viceo conferences.
Founded in 2007, the company is led by Ian Small CEO. The senior management team include Micky O’Brien, VP Marketing and Developer Relations, Nidhi Gupta, VP of Engineering, and Janine Yoong, VP Business Development.