Portland startup Urban Airship lands $25M for expansion
PORTLAND, Ore. -- Urban Airship's plan to expand internationally is getting a big assist from August Capital and other investors.
The Portland-based software developer announced a $25 million capital infusion on Wednesday. The investment round was led by August Capital, and existing investors Foundry Group, Intel Capital, True Ventures and Verizon also participated. Urban Airship has raised a total of $46.6 million in venture capital in three years.
As part of the deal, August Capital co-founder John Johnson will join Urban Airship's board.
Urban Airship designs and markets software that enables apps to send opt-in messages that appear on screens of mobile devices, allowing brands and other marketers to send targeted messages to customers.
The money will be used to help further development and to fuel the company's international expansion. In December, Urban Airship announced it was opening an office in London.
In just three years, Urban Airship has grown into a company with more than 100 employees and offices in Portland, San Francisco, Palo Alto and now London. The Palo Alto office was added when Urban Airship acquired Tello Inc., a deal that will allow Urban Airship to offer major brands a way onto mobile phones that doesn't require consumers to download an app.
The market for mobile apps is booming. The 45 billion app downloads in 2012 was double that of 2011, and the number is expected to grow seven-fold by 2016, according to Gartner.
"As the mobile relationship imperative moves from early adopters to the wide majority, we are in a fortunate position to be the platform of choice that brands and other technology vendors alike turn to for the ability to speak to mobile users in a way that's personally relevant to them," said Urban Airship Scott Kveton, co-founder and CEO, in a statement.
While the company doesn't disclose revenue, it said 2012 revenues grew by 400 percent.
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