Kony Solutions Nabs $15M From Insight Ventures For Its Enterprise App Development Platform
Kony Solutions, the unfortunately named makers of a write once, run everywhere mobile app development platform today announced that it has closed a $15 million series C round of financing. The funding was led by New York City-based venture capital firm, Insight Venture Partners, a 17-year-old firm that has invested in companies like Tumblr, Buddy Media, Wix, Chegg, and Twitter — to name a few.
Insight also led Kony’s $19.1 million series A financing, which it closed in January of last year. With its latest infusion of capital, which brings total funding to nearly $39 million, the startup is looking fund the deployment of new sales and marketing programs, regional expansion, and to ramp up hiring.
For those unfamiliar, Kony is on a mission to develop technologies and apps that both facilitate and accelerate customer engagement on any mobile operating system, device or channel. Through its flagship product, KonyOne, the startup offers a development environment and mobile middleware that allows big businesses to build and launch both enterprise and consumer apps.
As a result, Kony now offers support for nearly every technology and deployment option out there, from native apps on all native OSes, HTML5-capable browsers, single page apps, wrappers, hybrids, and more — even support for BYOD deployments. The agility and scalability of its platform have attracted more than 70 Fortune 500 companies, banks, airlines, as well as automotive and insurance companies.
Kony CEO Raj Koneru says that the startup will use its newest round of funding to continue managing and expanding on its recent growth, which (as of the end of its FY2012) had seen more than 200 percent growth in bookings and has added more than 30 new global customers, including Aetna, CIBC, Independence Blue Cross, Scottrade and Sun Life Financial.
What’s more, the company recently launched a suite of off-the-shelf, vertical-specific apps for banking, healthcare, retail, and travel, while earning the business of more than 30 new customers, including Aetna, CIRC, BlueCrossBlueShield, Scottrade, and Sun Life Financial.
With patents-pending for its flagship product, KonyOne, support of more than a billion user sessions annually, and its being named a “Visionary” startup by Gartner, Kony is really starting to find the kind of traction it will need to compete in a crowded space.
For more, check out Kony at home here.
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