Modo Labs, a Cambridge, MA-based provider of open source content delivery solutions for mobile platforms and devices, has closed a $4m financing.
Backers include Storm Ventures and New Magellan Ventures.
Founded by a group of colleagues from MIT and led by CEO Andrew Yu, Modo Labs has developed Kurogo, an open-source mobile development platform that enables developers at educational institutions and enterprises to build advanced mobile websites and native applications.
The solution is today used by around 150 enterprises and universities including Algonquin College (Canada), Boston College, Brown University, Georgia State University, Harvard University, Middlebury College, Rochester Institute of Technology, St. Edward’s University, Union College, University of Central Florida, University of North Carolina Chapel Hill, University of Sunderland (UK), University of Vermont, etc. The platform is offered under the MIT open source license and is available for download, free of charge, at http://kurogo.org.
The company intends to use the funds to accelerate market adoption for its mobile solutions, which are based on Kurogo. It is hiring (http://www.modolabs.com/careers.php).
FinSMEs
01/11/2011