Kony grabs funding to build mobile business apps

No — not that Kony. Enterprise-minded company Kony builds mobile apps for business and consumers and  encourages the bring-your-own-device movement with an enterprise app store.  Wednesday it announced a $15 million third round of funding.

Kony’s main platform, KonyOne, allows businesses to write one app that can  run on multiple mobile devices. The service also caters to  business-to-business and consumer-focused app building needs. The company  recently launched pre-built industry-specific apps for industries such as automotive, media, and retail.  Kony’s also working on a new platform for release next month, focusing on  business-to-employee app building.

The company just finished its fiscal year and boasts a 200 percent growth in  business. It also says it has added 30 customers in the last year, including  Scottrade and Toyota.

Kony faces competition from other mobile marketing and application  development companies, such as Netbiscuits,  which counts Siemens and eBay as customers.

Insight Venture Partners led the $15 million round, which will help manage  growth and hire new employees.

“FY2012 was another year of record growth for Kony. We made major  extensions to our technology platform and application portfolio and won the  business of dozens of new enterprise customers.  We also made  strategic investments in operational and management infrastructure,” said Raj  Koneru Kony chief executive in a statement.  ”This funding will help  us continue managing the incredible growth we’re seeing in our business.”

Kony has raised close to $39 million since its launch in 2007. The company is  based in Orlando, Florida.

Read more at http://venturebeat.com/2012/05/23/kony-grabs-funding-to-build-mobile-business-apps/#wZgoKAtJzX0rdE55.99