Snapchat Passes 60 Million Messages Per Day, Raises $13.5M In Series A Funding

Short-term messaging service Snapchat has raised $13.5 million in Series A funding led by the group at Benchmark.

Now valued between $60 million and $70 million the company was originally expected to pull down $8 million in funding.

The mobile messaging firm is now sending over 60 million messages per day and has passed one billion messages sent.

In raising the new capital SnapChat has hired five new employees for a total of 10 workers. Snapchat has also moved into a new office in Venice Beach, California.

Money raised from investors will be used to hire new workers and install new servers to maintain the company’s current speedy growth.

In its first round of funding Snapchat raised $485,000 from Lightspeed Venture Partners.