Red Foundry Raises $1.1M, Reports Say

According to reports, Red Foundry, a Chicago, IL-based developer of a technology that allows non-programming users to create mobile applications for the iPhone or iPad, raised $1.1m in its first financing.

Investor include OCA Ventures and I2A Fund, reports said.

The company intends is supposed to use the proceeds from the financing to hire new staff and launch its technology, which is in beta testing.

Red Foundry was founded by technology veterans including: Jim Heising, founder and CEO, Ron Franczyk, founder and CTO, Andrew Newman, Founder & Chief Software Architect.

Joe Dwyer is VP of Business Development.

05/11/2010
updated on: 11/11/2010