Kinvey, a provider of 'Backend-As-A-Service' for the facilitation of mobile app development on mobile cloud platforms recently announced that the company raised USD10.8 million in Series B financing round, participated by Verizon Ventures and NTT DOCOMO Ventures. As the use of mobile data and mobile applications continue to grow across the globe, mobile app developers benefit from Kinvey's mobile app development platform that provides enterprises a 'turn-on infrastructure', reducing or eliminating the need to build every application from scratch.
According to Kinvey, Verizon Ventures and NTT DOCOMO Ventures join their earlier investors, Avalon Ventures and Altas Ventures, bringing the total amount raised to USD17.8 million. The company says that as mobile applications market expands, the mobile-cloud space is seeing big players such as Salesforce.com, Amazon, Pivotal and RedHamarket enhancing their technologies and capabilities to support mobile apps development to attract and retain their cloud services customers.
In its blog post, Kinvey said that the funding will be used to drive product development, accelerate enterprise IT sales, and expand channel partnerships with a focus on cloud and systems integrator partners.
