12. RELATED-PARTY TRANSACTIONS

The Company has agreements with one of the Company’s strategic investors. In the years ended December 31, 2018, 2017 and 2016, the Company recorded $4.1 million, $0.6 million and $0.7 million of revenue, respectively, related to this investor. The Company had an accounts receivable balance of $2.4 million and $0.5 million as of December 31, 2018 and 2017, respectively, related to sales to this investor. The Company incurred expenses of $1.3 million with this investor for the year ended December 31, 2018. The Company had an accounts payable balance of $1.5 million payable to this investor as of December 31, 2018.

In May 2018, a member of the executive staff for one of the Company’s business partners joined the Company’s Board of Directors. The Company recorded revenues of $5.6 million for the year ended December 31, 2018 with this business partner. The Company had an accounts receivable balance of $1.0 million with this business partner as of December 31, 2018.