Feature Article

May 14, 2014

Instart Logic Fundraiser for Business-Class Apps Rakes in $26M

A round of Series C funding conducted by Instart Logic has resulted in the company raising $26 million to help fund a new wave of cloud-based apps for businesses. According to company CEO Manav Mital, the round was led by Kleiner Perkins Caufield & Byers, with support from previous investors including Andreessen Horowitz, Greylock Partners, Sutter Hill Ventures and Tenaya Capital. This raises the total company fundraising since its inception in 2010 all the way up to $52 million.

Instart Logic, which is based in Mountain View, Calif., currently provides businesses with a service that determines which part of the client's website an app user is most likely going to want to access first before doing anything else on the page. Instart Logic prioritizes this website information by preloading the chosen elements first, so that the page loads the relevant information before anything else. This helps lower the amount of wait time customers have when using the mobile version of a company's website and makes them more likely to have a positive customer experience.

“Our customers' business depends on how quickly their customers can load their sites on mobile and through apps,” said Mital in an interview concerning the fundraiser and why their product is so beneficial to businesses of all kinds. “We make those load as fast as possible.”

Mobile site traffic is increasing at an alarming rate, and Instart has seen increased business as a result. According to the company, Instart's customer base has grown to more than five times what it was just one year ago, with highbrow customers including Volcom, the Washington Post and Wine.com. Instart has also managed to increase their employee base in this time, more than doubling their employee count in the same time to almost 100 employees.

Mital claims that most of this funding will go towards sales and marketing, but he also added, “We intend to continue to invest in R&D as well.”

Edited by Alisen Downey

FOLLOW MobilityTechzone

Subscribe to MobilityTechzone eNews

MobilityTechzone eNews delivers the latest news impacting technology in the Wireless industry each week. Sign up to receive FREE breaking news today!
FREE eNewsletter