ORLANDO, Fla.--(BUSINESS WIRE)--Kony Solutions, Inc., the leading mobile and multi-channel application platform and packaged applications provider, announced today that it has completed a Series D round of financing from Telstra Ventures for $18.3M. The companies also jointly announced that they have entered into a reseller partnership, enabling Telstra to resell Kony’s solutions to its large established customer base.
Kony will use part of this Series D funding to further its expansion into the Asia Pacific market, develop its cloud business by investing further in product development, marketing, sales and operations, and accelerate growth in the U.S. Additionally, the reseller agreement between the companies will allow Telstra to provide added value to its enterprise customers through its cloud hosting solutions, infrastructure and other services, extending Kony’s reach into the important APAC region.
“Kony’s 2013 fiscal year was record-breaking; we grew 90% year over year, added the largest number of enterprise customers, and cloud expert Abhay Parasnis joined as our president and COO from Oracle,” said Raj Koneru, Kony’s CEO. “With Telstra’s investment, 2014 is shaping up to be an even bigger year, with the opportunity to leverage Telstra’s well-established customer channels and further solidify our domination in the enterprise mobility marketplace. Telstra’s customers will now be able to benefit from Kony’s award-winning mobile and multi-channel technology, by leveraging it to build their own mobile or multi-channel strategies to grow their respective businesses.”
Telstra Ventures Managing Director Mark Sherman said Telstra’s investment in Kony aligned to its strategy of developing new growth businesses and would build capability in Telstra’s domestic mobiles portfolio. “Kony offers business and enterprise customers a library of innovative pre-built mobile applications including the Kony Platform that enables customers to write their own applications and deploy them across multiple channels simply and at low cost. For Telstra this is a win-win – we are investing in an innovative company and adding immediate value by being able to offer Kony’s products to our business and enterprise customers.”
Kony was recently announced as a winner in the mobile category of the Red Herring 100 Awards in May 2013, and previously completed a Series C funding of $15 million in May 2012, led by Insight Venture Partners and Georgian Partners.
About Telstra Ventures
Telstra Ventures invests in breakthrough companies that are strategically important to Telstra. Its investment strategy is focussed on high growth opportunities that offer technology and solutions which leverage Telstra’s assets and enable Telstra to offer new products and services to its customers. Based in Australia and Silicon Valley, Telstra Ventures works closely with quality entrepreneurs to build significant companies. Telstra Ventures is a corporate venture capital group founded in 2011 as a wholly owned subsidiary of Telstra Corporation.
About Kony Solutions
Kony is the industry’s leading mobile and multichannel application platform provider. Kony develops a suite of customizable pre-built apps, the Kony Platform and a comprehensive mobile application management solution, which give companies the confidence and control to quickly build apps once and deploy everywhere – across all mobile devices and operating systems. Kony has 250 customers, including myriad Fortune 500 companies, the largest global bank, and global brands such as Hyatt, Huntington National Bank, Konica Minolta, Schweppes, Tyco and Carl Zeiss.
In 2012 Kony was named a “Visionary” in the Gartner Magic Quadrant for Mobile Application Development Platforms (MADP) report. For more information, please visit www.kony.com or connect with Kony on Twitter, Facebook and LinkedIn.