Xamarin said Wednesday that it has closed $16 million in Series B funding. Lead Edge Capital was the lead investor. Previous investors Charles River Ventures, Ignition Partners and Floodgate also participated in the round. Xamarin is an apps developer.
SAN FRANCISCO, July 17, 2013 /PRNewswire/ — Xamarin, the company that empowers developers to build fully native apps for iOS, Android, Windows and Mac, today announced significant corporate milestones, including topping more than 350,000 members in its developer community, reaching nearly 20,000 paid accounts, and achieving 285 percent year-over-year revenue growth, including 45 percent quarter-over-quarter growth in the first two quarters of 2013. In addition, Xamarin announced a $16 million Series B round of venture funding, driven by investor interest in the company’s high-growth momentum. The Series B round is led by Lead Edge Capital, investors in similarly high-growth businesses such as Alibaba Group, Bazaarvoice, Mindbody, Monetate, and Marketo. In addition, Xamarin’s Series A investors—Charles River Ventures, Ignition Partners and Floodgate—had significant participation in the Series B round, further validating the company’s vision and momentum.
Enterprises are under enormous pressure to deliver superior app user experiences to customers across all major platforms, driven by enterprise mobility, BYOD and the explosion of iOS and Android device usage for work and play. According to Gartner, the ratio of projects focused on mobile vs. PC app development is expected to shift to a ratio of 4:1 by 2015. Additionally, by 2016, 70 percent of the mobile workforce will have a smartphone—half purchased by the employee—and 90 percent of enterprises will have two or more platforms to support.
Xamarin has emerged in the last two years as the leading solution for enterprise app development due to the platform enabling businesses to build fully native apps for multiple device platforms in C#. With Xamarin, businesses leverage an existing C#-skilled workforce and code, share 75 percent of app source code across device platforms on average, and deliver fully native user experiences as Xamarin exposes 100 percent of each platform’s native APIs.
“In the very near future, every business process and customer interaction will happen on a mobile device,” said Nat Friedman, CEO and cofounder, Xamarin. “Xamarin’s unique approach of enabling businesses to rapidly deliver fully native apps for multiple device platforms has resulted in incredible revenue growth and market momentum. This success, combined with this opportunistic Series B round, provides the foundation for exponential future growth for the company.”
“After evaluating many companies in the space, we established that Xamarin’s track record of highly repeatable success and deep understanding of the needs of enterprises positions them best for future growth,” said Mitchell Green, Managing Partner, Lead Edge Capital. “Xamarin’s founders have the leadership, insight and expertise necessary to scale the business, and they have created a team and model that we’re confident will take enterprise mobility to the next level.” The majority of Lead Edge’s investors are current or former senior-level Fortune 500 executives, entrepreneurs and leading public market investors. Upon investment, portfolio companies are given full access to Lead Edge’s limited partners to help them grow faster.
A summary of Xamarin’s corporate milestones includes:
Developer community growth to more than 350,000 in just two years;
Nearly 20,000 paid accounts in 70 countries;
285 percent year-over-year revenue growth; 45 percent quarter-over-quarter revenue growth in the first two quarters of 2013;
Increased the number of partners in its Partner Program to over 60 in just six months;
Launched the Xamarin Component Store which enables developers to add mobile app functionality to apps with just a few lines of code;
Announced Xamarin Test Cloud allowing developers to test apps on hundreds of real devices instantaneously;
Acquisition of Less Painful, the creators of Calabash, the most widely used and comprehensive cross-platform automated mobile user interface testing framework;
Launch of Xamarin .NET mobility scanner that helps business determine how much of their existing .NET can be brought to mobile platforms;
Sold out first worldwide developer conference, Xamarin Evolve 2013, with more than 650 mobile developers and industry leaders;
Named a “Best Place to Work 2013,” by the San Francisco Business Times;
Now working with over 100 of the Fortune 500 companies, including recent wins with Kimberly-Clark and McKesson.
“The results from our new field sales app are phenomenal — our salespeople love the app and are able to engage customers and close sales more effectively,” said Kim MacDougall, senior capability development manager, Kimberly-Clark Professional. “Key to the app’s success is the beautiful, fast user experience made possible by Xamarin.”
Xamarin is the new standard for enterprise mobile development. No other platform enables businesses to reach all major devices—iOS, Android, Mac and Windows—with 100% fully native apps from a single code base. With Xamarin, businesses standardize mobile app development in C#, share 75 percent of source code across platforms on average, and leverage existing skills, teams, tools and code to rapidly deliver great apps with broad reach. Xamarin is used by over 350,000 developers from more than 100 Fortune 500 companies and nearly 20,000 paying customers including Kimberly-Clark, Clear Channel, Schindler, McKesson, Halliburton, Cognizant, GitHub, Rdio and WebMD, to accelerate the creation of mission-critical consumer and enterprise apps. For more information, please visit: xamarin.com, read our blog, and follow us on Twitter @xamarinhq.