Insight Venture Partners leads $15 Mln Round for Kony Solutions

Kony Solutions has completed a $15 million Series C round of financing led by Insight Venture Partners. Kony provides mobile application development platforms.


Kony Solutions, Inc., the leading mobile application development platform (MADP) provider, announced that it completed FY2012 (ended March 31, 2012) growing more than 200% in bookings and adding more than 30 new global 2,000 customers.

To continue to fuel and accelerate this growth, Kony also announced the successful completion of a Series C round of financing. Led by Insight Venture Partners, the $15 million in funding will be used to fund operations growth, sales and marketing programs and regional expansion.

Kony is the mobile application development platform provider of choice for the world’s largest IT organizations, including more than 70 Fortune 500 companies, the largest global bank, and many of the U.S.’s largest airline, automotive and insurance companies.

“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, CEO of Kony. “This funding will help us continue managing the incredible growth we’re seeing in our business.”

Recent Kony milestones include:

* Expanding Customer Base: Kony earned the business of more than 30 new customers in the past year including Aetna, CIBC, BlueCrossBlueShield North Carolina, Hong Leong Bank, Huntington National Bank, Independence Blue Cross, Intermountain Healthcare, Scottrade, Scotiabank and Sun Life Financial.

* Proactive Platform Updates: Kony added comprehensive HTML5 support to its platform and support for a host of new devices, including support for enterprise BYOD (Bring-Your-Own-Device) deployments. Kony also launched a suite of off-the-shelf, vertical-specific applications for Banking, Healthcare, Retail, Travel and other sectors. Kony plans another major expansion of its platform and application portfolio this quarter.

* Thriving Partner Ecosystem: the company grew its base of systems integration and services partners with new alliances with IBM Global Services, VASCO, DonRiver and Wipro.

* Growth in Licenses and User Sessions: the company recorded strong license growth during the year and estimates that its platform now supports more than a billion user sessions annually.

* Industry Awards: Gartner, Inc. positioned Kony as a “Visionary” in its 2012 Magic Quadrant for Mobile Application Development Platforms report. Kony also earned the title “Most Innovative Company of the Year” by the American Business Awards and took first-place honors in the 10th annual Mobile Star Awards.

* Patents and Intellectual Property: Kony received patent-pending status for its “Write Once, Run Anywhere” technology under U.S. Patent No. 13/437640.

About Kony Solutions

Kony is the industry’s leading mobile enterprise application development platform (MADP) provider, with more than 70 of the Fortune 500 among its customers.

Kony enables companies to deliver innovative mobile solutions on every mobile device. Leveraging the KonyOne Platform, an application is defined just once, and can be deployed across more than 10,000 devices, seven operating systems and multiple channels, including HTML5 and mobile web, hybrid, native, mixed-mode, kiosks, desktop and tablet applications. The KonyOne Platform provides a universal framework that ensures the best user experience by optimizing all native capabilities for each device operating system and browser. Given the market’s rapid rate of device and platform upgrades, Kony future proofs applications against OS and browser updates, providing SLAs that guarantee timely support of the newest operating systems and devices. Leading global brands have built mobile applications with KonyOne, including Hotwire, Huntington National Bank, Hyatt, Toyota and Capital One.

In 2012 Kony was positioned as a “Visionary” in the Gartner Magic Quadrant for Mobile Application Development Platforms (MADP) report. Kony has been named a Gartner Cool Vendor, a ‘Most Innovative Company of the Year’ by the American Business Awards and was chosen as one of Fast Company’s 100 innovative Apple-affiliated achievers.

For more information, please visit Connect with Kony on Twitter, Facebook and LinkedIn.