Gizmox Raises $7.5 Million, Appoints Eugene Kuznetsov As CEO

Founded in 2007, Gizmox is a company founded by former Microsoft executives.  Gizmox aims to empower the standard Internet browser so that it can support rich, data-intensive applications in a standard environment without the need for client plug-ins and built-in security.  Gizmox helps companies create mobile apps using HTML5.  The company has raised $7.5 million in funding and has appointed Eugene Kuznetsov as their CEO.

This round of funding was led by Atlas Venture with participation from existing investors Citrix, IVC, and Consolidated Investment Group.  Gizmox has raised a total of $18 million thus far.  Jeff Fagnan and Christopher Lynch of Atlas are joining the company’s board of directors as a result of the funding.

Prior to Kuznetsov becoming CEO, Navot Peled was leading the company as the founder and CEO.  Peled will now be the president of the company.  Kuznetsov previously worked on Internet Explorer at Microsoft Corporation, but left to start an enterprise startup company called DataPower.  IBM acquired DataPower and Kuznetsov worked there for two and a half years.

Kuznetsov launched a new company called Abine where he will remain as the chairman.  Atlas is also an investor in Abine, which may be one of the reasons how he got the CEO gig at Gizmox.

“There is an enormous platform shift of mission-critical business applications from traditional Microsoft client-server to mobile, web and HTML5.  While this is well understood and underway for horizontal or consumer applications, the problem for complex business applications is still largely unsolved. Gizmox has a unique solution informed by years of technology development and many successful customer deployments, to facilitate this shift,” stated Atlas Venture partner Jeff Fagnan.

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