US-based enterprise service provider Kinvey has raised $10.8m in its series B round from a consortium including telecommunications operators NTT and Verizon’s corporate venturing units.
NTT Docomo Ventures and Verizon Ventures joined venture capital firms Avalon Ventures and Atlas Venture, both existing investors, in the round, which took Kinvey’s total amount raised to date to $17.8m.
In July 2012, Kinvey raised $5m in a series A round led by Avalon Ventures that also included Atlas Venture, which had invested in Kinvey’s $2m seed round in August 2011.
Jeffrey Black, director of Verizon Ventures, which has invested in more than 40 companies over the past decade, said: “Mobile is driving the adoption of cloud in the enterprise, and both of these platforms are happening together simultaneously.”
France-based industrial group Schneider Electric recently said it would use Kinvey to drive development of apps that complement and add value to its existing energy product offerings.
Additionally, VMware has partnered with Kinvey to launch Kinvey on vCloud Air to help drive adoption of its hybrid cloud platform.