July Systems, a cloud-based mobile application platform provider, today announced that it has closed a $15 million growth equity investment led by Updata Partners with participation from Intel Capital and WestBridge Capital. The latest round of funding will provide capital to accelerate the product roadmap, boost sales momentum and increase market reach.
"Our investment in July Systems represents our belief in the platform, the management team, and the mobile market,” said Carter Griffin of Updata Partners, a leading technology-focused growth equity firm. “July Systems has a seasoned and highly experienced team, a market-leading product, and a top-tier, global customer base. We look forward to building upon the success they have already achieved as a leader in mobile technology.”
“The pace of change in the mobile market place means that to continue to be a leader in this space, we need to grow and innovate in a number of dimensions simultaneously — making our platform easier to build and manage cross-platform mobile applications for customers, employees and our ecosystems of partners will be a key focus area for us. In addition, we will use the funds to increase market awareness at a global level,” said Rajesh T.S. Reddy, chief executive officer of July Systems. “We believe Updata Partners has the experience, talent, network, and operating expertise to help July Systems capitalize on the enormous mobile market opportunity.”
July Systems flagship offering Mi™ Platform, a cloud-based mobile platform, allows companies to build, manage, market and monetize rich mobile applications quickly and effectively. July Systems has offices in New York, Los Angeles, and Bangalore.