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TMCNet:  Mobile Publishing Company MobStac Receives Series B Funding [DealCurry (India)]

[January 09, 2014]

Mobile Publishing Company MobStac Receives Series B Funding [DealCurry (India)]

(DealCurry (India) Via Acquire Media NewsEdge) Bangalore based MobStac has secured $2 Mn in Series B funding from Accel Partners and Cisco taking its total funding till date to $3.1 Mn, says TechCrunch.The investment will be utilized to expand its existing cloud platform to build mobile websites for consumer brands which intend to retail products on mobile phones. Accel Partners had led the previous $400000 Series A round into MobStac in 2011, with Shekhar Kirani of Accel Partners coming on board.Founded in 2009 by Sharat Potharaju and Raju Pratap, Mob Stac deals with mobile back end as a service (MBaaS) for publishers and businesses, which helps them build engaging, sites and native apps. Its cloud-based platform plays the role of the server, helping its customers build mobile sites and native apps with absolute ease. It has inbuilt integration with social media, advertising networks/servers, third-party data sources, CRM, etc.MobStac now has over 5 million unique visitors per month, and it aims to reach 25 million monthly unique visitors within few yearsLate last year the company had launched HTML5stac, a cloud platform which allows HTML5 and JavaScript developers to build mobile apps and responsive websites. It was also part of Google's 'Lets Talk Mo' initiative. In December 2012, the mobile publishing platform, partnered with PubMatic to offer its platform through PubMatic's PubLink enterprise app marketplace.The company's clientele list includes The Hindu, ZigWheels, Outlook India, Deccan Herald, India TV, allAfrica and others.Accel focuses on big data, Internet, mobile and healthcare startups and has invested in 17 startups in India at the seed stage from its $150 million+ Accel III fund. Recently it had invested in ophthalmic screening device company, Forus Health.Cisco Systems, Inc. is an American MNC that designs, manufactures, and sells networking equipment. The Cisco has more than 20,000 Engineers in more than 10 labs worldwide; more than 4200 patents to its name. In India Cisco has a headcount of 11800+ employees Cisco has seven sales offices in the region New Delhi, Mumbai, Bangalore, Chennai, Pune, Kolkata and Hyderabad.Last year in April the company had invested in Apalya Technologies along with IDG Ventures India, Indo US Venture Partners and Qualcomm (c) 2014 EagleEye Research & Media Pvt. Ltd. All rights reserved. Provided by Syndigate.info, an Albawaba.com company


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