April 23, 2013

Cha-ching for Kaazing: Company Closes Funding Round at $15 Million

Kaazing (NewsAlert), a provider of live Web and mobile communication and the developer of HTML5 WebSocket, announced that it has closed its latest funding round at $15 million, bringing the company’s total financing to $39 million. 

“We’re very pleased to announce our latest round of funding that adds top-tier investors with outstanding track records,” said Jonas Jacobi, CEO and co-founder of Kaazing. “This influx of new capital will fuel our global expansion and further validates our market momentum with an enterprise-grade web communication platform built using the HTML5 WebSocket standard.”

The latest in a series of investors include New Enterprise Associates (NEA) and Columbus Nova Technology Partners (CNTP).

These investors aren’t betting on a whim. Analysts are predicting a boom in the number of Internet connected mobile devices worldwide in the next several years.

By 2020, research conducted by IMS Research in 2012 indicates there will be roughly 5 billion people using the web on a projected 28 billion internet-connected devices.

As more and more people start using iPads and other tablets, sophisticated Internet ability is of increasing importance.

“With iPads and other smart mobile devices rapidly displacing PCs and accelerating cloud adoption, enterprise application modernization is increasingly urgent,” said Rohini Chakravarthy, partner at NEA. “Today’s static web architectures are expensive and ineffective in supporting this huge market shift – Kaazing’s leading communication products are critical to the emerging cloud and mobile architectures. We are excited to be investors in the leader in this space.”

Mohsem Moazami, general partner at CNTP, said that Kaazing is “at the heart” of an expansion of “hyper-connected mesh of static and live information accessed daily by billions of online users.”

Moazami added that CNTP trusts Kaazing is in the position to “redefine the $12 billion application modernization market as the need for fast, scalable and secure mobile web infrastructure is accelerating rapidly.”

Kaazing’s last round of funding was in June – during which it raised even more – $17 million. 

Edited by Alisen Downey


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