Avalon’s Continued Investment in Kinvey
Yesterday our portfolio company Kinvey announced their Series B raise. Our decision to continue to invest was simple. With uncanny accuracy, Kinvey has constantly predicted the features, timing and pace of needs of enterprise clients to accelerate their support of the expanding array of mobile devices and use cases. We and Atlas Venture, were joined this round by NTT DOCOMO Ventures and Verizon Ventures.
Sravish Sridhar, Founder and CEO runs his team with hard work, humility and humor, a leadership style that has only led to great things – quickly. As Sravish said in yesterday’s announcement, “I’m really proud and humbled by the hard work and resilience exhibited by our team. Competing and winning enterprise IT engagements against the likes of large technology and cloud vendors like Oracle, IBM, Amazon, Microsoft and SAP is tough — and we’ve been able to do it, earning the right to be the mobility platform for some of the largest companies in the world.”
Sravish is right, even in a highly competitive market with big players, Kinvey has proven to be “best in class” of mobile acceptance solutions for enterprise and there are a few reasons why. By understanding that MBaaS is more than API gateways and push notifications, Kinvey’s holistic platform allows for more than productivity, enabling customers to transform business processes, cutting costs and even realize new revenue streams.
As Ben Kepes said in his recent article about Kinvey on Forbes, “Mobile is the way that modern enterprise IT is primarily going to be delivered. Thus tools and platforms that helps enterprise deliver on the mobile opportunity are super valuable. And where there is value for customers, there’s plenty of money for vendors to make.”
Enterprise mobile apps are all about revenue generation, productivity, communications and cost cutting. Kinvey has built this into their service platform, by radically innovating on reducing the time to market and expense for enterprise mobile apps. All responsible CIOs and CTOs should be working with these guys.