Mobile App Development Company Xamarin Raises $16 Million In Series B
Xamarin is a cross-platform mobile development company that makes it possible for enterprises to develop native apps for iOS, Android, Windows, and OS X. The company has raised $16 million in Series B round led by Lead Edge Capital. Existing investors Charles River Ventures, Ignition Partners, and Floodgate put money into this round also. Xamarin has raised $28 million between this round and their $12 million Series A round.
This round of funding will be used to increase investment in the company’s developer platform. Xamarin currently has 350,000 members and 20,000 paid developer seats. The company hosted their first developer conference earlier this year.
“In the very near future, every business process and customer interaction will happen on a mobile device,” stated Xamarin chief executive officer and co-founder Nat Friedman. “Xamarin’s unique approach of enabling businesses to rapidly deliver fully native apps for multiple device platforms has resulted in incredible revenue growth and market momentum. This success, combined with this opportunistic Series B round, provides the foundation for exponential future growth for the company.”
Through Xamarin, businesses can leverage an existing C# skilled workforce and code. Xamarin shares 75% of app source code across device platforms on average.
Xamarin’s revenues have grown 285% year-over-year and 45% quarter-over-quarter.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry