Gobi, Matrix Partners return to Camera360 to back $18m Series B round

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webcamGobi Partners and Matrix Partners have renewed their commitment to mobile camera app Camera360 by backing its $18m Series B financing round.

SIG China led the round, which the company said would be put towards product development and expanding its management team capabilities.

More than 150 million people from around the world currently use the Chinese company’s services.

Camera360 had previously secured nearly $10m in series A funding over the last two years.

The deal comes weeks after Institutional Venture Partners led a $30m Series C round for physical camera maker Dropcam, bringing its total raised to $47.8m.

Existing backers Accel Partners and Menlo Ventures and new investor Kleiner Perkins Caufield & Byers also participated in the round for the Wi-Fi video monitoring camera maker.

Dropcam said it has seen a fivefold increase in camera shipments every year since 2009.

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