iBuildApp, a Foster City, CA-based mobile app startup, raised an additional $525k in financing.
The company plans to use the funds for product development and expansion into Latin America.
Founded in 2010 by Rafael Soultanov, iBuildApp provides a free builder which allows anyone to build a mobile app for iPhone or Android without the need for programming skills. The platform allows users to add text, embed RSS-feeds, images, audio, video in a customizable mobile app and offers pre-made templates for different industries including banks, universities, restaurants, schools and churches. It has more than 600,000 registered accounts and 700,000 mobile applications have been created to date.
The company, which employs 22 people, doubled their revenue in 2013 to $400k. It now plans to grow to $1.6m in revenue with a goal to increase revenue to $10m in 2015.
Customers include Liverpool Football club, Nielsen Media, Texas police, and the UCLA, Suffolk, Emory Universities, Sberbank.
Founded four years ago, iBuildApp has raised $900k from Starta Capital and private investors.
FinSMEs
19/03/2014