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TMCNet:  Investment of USD1.5m raised by appRenaissance in seed round

[April 12, 2012]

Investment of USD1.5m raised by appRenaissance in seed round

Apr 12, 2012 (M2 EQUITYBITES via COMTEX) -- Provider of mobile applications and infrastructure, appRenaissance, announced on Wednesday that it has raised USD1.5mm in a seed round of investment led by FirstMark Capital.

The seed round also included investments by appRenaissance CEO Bob Moul and other Philadelphia angel investors. The funding will be used to make several appointments and accelerate development of the company's patent-pending mobile middleware platform, Unifeed, designed to speed up mobile application development time, simplify integration with enterprise services and reduce ongoing maintenance costs.

appRenaissance added that it expects to achieve USD1mm in revenue in its first full year of operation. Its clients include TicketFly, BizEquity, AllFanz, Radian, geo-social startup Interact, and high-risk insurer Pennsylvania Surplus Lines Association.

Comments on this story may be sent to info@m2.com

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