Intel’s corporate venturing unit has helped US-based mobile cloud company July Systems raise $15m.
Intel Capital joined the round on Thursday last week alongside growth equity firm Updata Partners, which led the round, and India-based venture capital firm WestBridge Capital. July Systems has raised an estimated $40m in its history.
July Systems’s revenue run rate grew at 60% in the US, the UK, the Middle East and Asia in 2011.The company’s technology allows businesses to manage and build mobile applications.
Intel had previously led July Systems $7m series C round in 2010. It was joined in that round by venture firms Sequoia Capital and Footprint Ventures.
Sudheer Kuppam, managing director for Intel Capital in India, Japan, Australasia and South East Asia, said at the time of the series C: "July Systems has demonstrated strong growth through innovation in the mobile internet space and by delivering value to some of the world’s largest media brands. Strategically, July Systems’ middleware platform and global customer base complements Intel Capital’s portfolio; and Intel Corporation’s focus on the rapidly-evolving mobile internet segment."
July Systems raised its $10m series B round in 2004. The round was led by venture firm Charles Rivers Ventures. Other backers of that round were NeoCarta Ventures, Jumpstartup, Acer Technology Ventures and Silicon Valley Bancshares. The company’s series A round raised $8m.