moTwin Announces Round of Funding, Adds New Investor
$7.3M Investment Underscores Opportunities in Mobile App Development
PALO ALTO, Calif., September 3, 2013-- French enterprise mobile app developer moTwin has closed an additional $2.7M in financing from new investor Sigma Gestion, as well as previous partners Seventure Partners and Naxicap Partners. This brings the total capital raised by moTwin to $7.3M, underscoring the opportunity for unique technology that can bridge user experience and cloud integration in mobile apps. The new funds will be used for international expansion, including adding additional sales and support resources to its Palo Alto office.
"We chose to support moTwin because its differentiated technology is already widely used in banking by companies such as BNP Paribas, Natixis and Societe Generale, as well as by online sports betting services that require excellence in safety and reliability," said Guillaume Hemmerlé, Director of Investments, Sigma Gestion. "We see tremendous potential in enterprise mobile applications and believe that moTwin has the right technology to address this rapidly growing market."
Currently, SDKs from Apple or Google do not enable developers to provide the necessary integration to cloud and back-end infrastructure, which then impacts performance and the ability to interact with the app in real-time. The patented moTwin technology enables customers to:
•Provide personalized user experiences with its context-aware SDK.
•Establish real-time and secure communications between mobile devices and backend systems.
•Use the moTwin proprietary communication protocol to offer robust connectivity to mobile services (including transactional services) regardless of the network's state.
Since its founding in 2008, moTwin has received several awards, including Best Mobile Banking Application by EuroFinance; and awards at the Grenoble Innovation Fair and Réseau Entreprendre. The company recently released a new version of its popular platform, moTwin Platform 3.2 (http://www.motwin.com/motwin-platform/request-eval/).
"This additional funding will allow moTwin to continue our international expansion and grow our product support infrastructure, as we continue to add customers across the globe," said moTwin founder, Claude Lemardeley. "There is a real need for solutions that can bridge the 'mobile cliff' and we believe we have the platform that can successfully do just that."
A white paper detailing the "mobile cliff" and its impact on app development today is available from moTwin at (http://www.motwin.com/news-and-resources/white-papers/).
moTwin enables enterprises to leverage existing systems, build and deploy the best mobile applications, and provide compelling value to their customers. The company's flagship moTwin Platform is a development and runtime platform designed to quickly and easily deploy enterprise-grade mobile applications that deliver the performance today's users demand. With a unique focus on both back-end/cloud integration and customer usability, moTwin delivers a "mobile-right" solution for its enterprise customers worldwide. moTwin has offices in Palo Alto, California; Grenoble, France; and Frankfurt, Germany. www.motwin.com
All trademarks and registered trademarks are properties of their respective owners.
Downloadable Venture Capital Database