Coatue leads Series C for cloud communications platform

Thanks to the growth of online streaming, Coatue is taking a bet on Agora and its cloud communications platform.

Cloud communications platform Agora has raised $70 million in Series C funding led by Coatue Management. Existing investors Morningside Venture Capital, Susquehanna International Group and Shunwei Capital, a fund backed by Xiaomi’s founder Lei Jun, also joined the round. 

Agora received an undisclosed amount of Series A funding from Shunwei Capital in 2014, then closed a $60 million Series B funding in June this year from GGV Capital, Morningside Venture, SIG, Shunwei and IDG Capital.

Founded in 2014, the company is a real-time communications service provider, the first of its kind in China. It provides communications technology and cloud distribution services for...

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