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Appcelerator raises $15 Million in Series C of Funding
Appcelerator, the Mountain View, Calif. – based company, has recently announced the end of the series C of funding which has brought the company the amount of $15 million. This funding round has been led by Mayfield Fund, TransLink Capital, Red Hat, eBay, Inc., Sierra Ventures, and Storm Ventures.
Navin Chaddha, the managing director at Mayfield Fund stated the following: “Appcelerator has become the agent of change for Fortune 500 companies looking to make a strategic move to mobile. We see Appcelerator’s world-class integrated mobile platform as essential to overcoming increasing levels of fragmentation that currently challenge the entire mobile industry.”
Appcelerator is a company which designs integrated mobile platforms for rapidly developing native and HTML5 mobile web applications by using open web technologies. The company intends to use the money raised in this funding round in order to expand on the European and Asian markets and to continue to invest in the flagship mobile development platform, Appcelerator Titanium. As well, it is not long ago that the company has also announced that it had acquired Particle Code in order to add HTML 5 mobile web and gaming capabilities to the platform. As a matter of fact, this money is also going to be used in order to make new investments in both the consumer and enterprise application development. One of the other great things Appcelerator has managed to accomplish lately is that of being the largest 3rd-party publisher in the Apple and Android marketplaces. This has been accomplished by having more than 30.000 mobile applications on 30 million devices in its portfolio.
Issac Roth, PaaS Master at Red Hat, has stated the following: “The alliance of Appcelerator’s leading mobile platform with Red Hat’s Platform-as-a-Service, OpenShift, lets developers create an exciting world of mobile applications that engages users and scales easily. We are working to make the experience of using these two products together optimally beneficial to users.”
Due to the fact that the company has more than half of its total demand in the European and Asian markets, Appcelerator intends to open an office in UK in the first quarter of the year to come and to collaborate with TransLink in order to enter the market in Japan, Korea and Greater China. Toshiya Otani, the managing director at TransLink Capital, stated the following: “The international demand for Appcelerator’s products is enormous. Android and iOS are surging in Asian markets and there’s a need by large OEMs, Systems Integrators, and multi-nationals in Asia to align themselves strategically with Appcelerator. We are actively working with Appcelerator to secure major international strategic partnerships that have a global footprint.”
This has been quite an astonishing year for Appcelerator. After only one year since its previous round of funding which has brought the company the amount of $9 million, Appcelerator has managed to add more than 1.000 customers. Even though most of these new customers are small and mid companies, this doesn’t mean that the company did not manage to attract big clients such as NBC, GameStop, Zipcar, and Merck as well. With this amount of money raised in this new round of funding, the company has managed to raise a total of $31.5 million. If the company is to continue this fact pace of growth, it is only normal for it to go public any time soon.
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