Bird, a business communications platform previously known as MessageBird, has secured $450 million in debt financing. The round was led by JP Morgan, Capital One, and Citi, with a total of seven banks participating. The financing consists of a $400 million term loan and a $50 million revolving credit facility.
The company stated that the capital will provide liquidity to existing shareholders, including current and former employees, rather than funding growth. Founded in 2011, the firm reported profits of $165 million last year. Previously, the company raised $800 million in 2021 and $240 million in 2020, reaching a valuation of $3 billion.
The business has undergone a significant restructuring, shifting its focus from European to US customers and repositioning itself as an AI-focused enterprise. The company introduced an AI Agentic Harness platform, which enables AI agents to manage communications and eSIM phone plans. Founder Robert Vis noted that these changes are driven by an emphasis on automation.
As part of this transition, the company reduced its workforce from a peak of 1,000 employees to 120. This follows a series of job cuts, including the elimination of approximately 120 positions last year. The company claims that the reduction in staff is a direct result of increased productivity through automation across its operations.
