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  • Apps and Internet Tools are preferred by Investors: Life360, Bill.com and MarkaVIP raise Funds

    December 14th, 2011 No comments

    It has become obvious for anyone interested in funding that new technologies are more and more appealing for investors. If a business focuses on providing applications or solutions for online communication, internet or e-commerce, the company has more chances than others at receiving funding for development and expansion.

    For instance, the family communication mobile application company Life360 has recently managed to raise the amount of $3.5 million from Fontinalis Partners, Bessemer Venture Partners, 500 Startups, Kapor Capital, Venture51, Bullpen Capital, Social Leverage, EchoVC Partners and others in series A of funding. The purpose of this application is that of maintaining families in touch by the means of tabs and group chats which are supported by a cross-platform FamilyChannel.

    When asked about this app, a representative from Life360 stated the following: “For example, Mom can use the Life360 app to request a Check In from her teen daughter and will be able to get a location in response that displays where she currently is on an interactive map. During the East Coast earthquake earlier this year, Life360 proved valuable to thousands of families who otherwise wouldn’t have known the status of their loved ones.” The company intends to use the funds in order to expand the company and develop the infrastructure. They are also considering improving the quality of the app.

    Bill.com is another company which has recently managed to raise $15 million in the series D of funding from the Financial Partners Fund, and the previous investors from Emergence Capital Partners, August Capital, JAFCO Ventures and Total Technology Ventures. The company provides services which streamline and automate vendor bill payment and customer invoicing. Although the company already has a 300% rate of growth, the money raised in this new round of funding is going to be used in order to expand the network and the services provided by the company.

    MarkaVIP is a private sales club and e-commerce operation which activates in the Middle East, and which has recently managed to raise $5 million in the first round of funding from Silicon Valley’s Lumia Capital and Invus Financial Advisors. MarkaVIP already has 10,000,000 registered users, but the site actually attracts 5,000 more users a day. Martin Gedalin, the Managing Partner at Lumia Capital, stated the following: “MarkaVIP is creating a region-defining e-commerce platform by leveraging a world class management team, market-leading e-commerce know-how, and a loyal following of brand-savvy customers. We have been witness to the company’s amazing growth from early in its life and are excited to deepen our partnership to help accelerate their business momentum.” MarkaVIP has a growth rate of 30-50% per month and it is considered to be the most important local distribution developer in the GCC region.

    So, if your business is focused on developing new technologies, applications or internet tools, you can consider applying for funds at any given moment as chances are that you are to raise the funds you need sooner than expected.

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