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Venture Capital News: Netbiscuits Secures $27M Funding

NEW YORK, NY, Leader in adaptive web development raises additional investment for its Netbiscuits Cloud Platform.
Global leader in adaptive web development raises additional investment for its Netbiscuits Cloud Platform to deliver against rapidly accelerating enterprise mobile web demand

Netbiscuits, the global leader in software solutions for adaptive web development, today announced plans to expand its leadership of the mobile web industry with an investment of $27 million led by Stripes Group and supported by existing investor T-Venture. Netbiscuits will use the funding to extend its sales and marketing capabilities in the United States and Europe, as well as focusing on research and development, so it can continue to innovate and shape the market around key mobile trends.

Mobility is now firmly a priority for businesses with mobile web access expected to overtake PC in 2013. According to the Gartner Magic Quadrant for Mobile Application Development Platforms[1], "by 2015, 80% of all mobile applications developed will be hybrid or mobile-web-oriented. Moreover, mobile application development has become a top concern for enterprises and their CIOs." In addition, according to the 2012 Gartner CIO Survey[2], "61% of respondents plan to enhance their mobility capability during the next three years. Of these respondents, 48% believe they will become leaders in their industries by fully adopting innovative mobility solutions."

However, due to the proliferation of different mobile devices, mobility is also a complex problem. Netbiscuits' software solutions allow companies to maximize their web experiences for customers, employees and vendors across every device, including leveraging rich contextual data from the device profile, operating system and browser type that can provide real time information on features like touch capabilities and whether GPS is enabled or not. This allows for truly tailored and targeted experiences that deliver higher web user engagement, brand preference and purchase choice. Netbiscuits' solutions have seen huge demand from the industry, with clients including Viacom, Coca-Cola, eBay, Universal Music Group, Google and PayPal as enterprises' needs for brand websites, commerce and intranet solutions on mobile devices continue to grow.

"We're at a tipping point in our industry. The mobile web market has been maturing for the past decade but has seen explosive growth in the last few years - Netbiscuits has led it all the way," comments Michael Neidhoefer, CEO, Netbiscuits. "A highly developed mobile web presence is no longer a nice-to-have for enterprises; it is now a requirement for any company that wishes to remain competitive. As a result, we're seeing huge demand from across the world, particularly in the US, which is at the cutting edge of the current mobile trends."

This round of investment sees Stripes Group joining Netbiscuits' existing investors T-Venture and Creathor.

"Mobile is seeing tremendous growth and the Netbiscuits team and platform is leading the industry in providing innovative, flexible and cost effective solutions to a wide variety of blue chip customers across numerous industry sectors," says Dan Marriott, Managing Partner at Stripes Group. "The timing of our investment is ideal and provides Netbiscuits with the resources to extend its leadership position in enterprise mobile web development during this period of rapid market adoption. The Netbiscuits team has done an exceptional job over the past 12 years building and evolving their platform and market position - and we couldn't be more excited than to have the opportunity to partner with them on their road ahead."

The $27 million funding from Stripes Group and T-Venture, will be invested in sales and marketing skills globally, with a focus on the United States and Europe. Investments will also be used for research and development to continue shaping the market with innovative solutions from the Netbiscuits Cloud Platform such as solutions for hybrid web applications, driving a One Web platform from PC to mobile device, access to real time rich contextual data for an even more customised user experience and continuing to update the adaptive platform with emerging device and web frameworks like the recent updates around HTML5 and responsive design.

About Stripes Group

Stripes Group, founded in 2003 and based in New York, is a private investment firm focused on growth stage minority and majority investments in rapidly growing and profitable Internet, software‚€źas‚€źa‚€źservice, technology‚€źenabled services and consumer products companies. Stripes Group typically partners with founder‚€źowned and -operated companies that have had limited prior institutional investors.

About T-Venture

T-Venture Holding GmbH was founded in 1997 as a wholly owned subsidiary of Deutsche Telekom AG. It has since then invested in young companies that demonstrate economic and technological synergies with the Deutsche Telekom business units as well as above-average growth potential. Its head office is in Bonn. It is supported and complemented in its activities by T-Venture of America, Inc. in San Francisco and in Seattle. Investment activities focus on Europe, the United States and Asia.

About Creathor

Creathor Venture is a German and Swiss-based venture capital firm run by entrepreneurial people with industry knowledge and expertise for building international companies. Creathor Venture manages funds of € 180 million (230m $) that support all venture capital situations, with a primary focus on early phases. The investment focus is on companies in the field of internet, mobility, health and other high technology. The firm was established by Dr Gert K√∂hler, who has backed since 1984 many successful German and European ventures. The partners of Creathor Venture, Dr Gert Koehler, Ingo Franz, C√©dric K√∂hler and Karlheinz Schmelig have been lead investors in more than 200 companies and participated in over 20 IPOs.

About Netbiscuits

The global leader in software solutions for adaptive mobile web experiences used by enterprises worldwide, and daily by more than 15,000 professional developers. With a global partner network and hosting in excess of 110,000 mobile web apps and sites, Netbiscuits solutions are powered by the cloud-based Netbiscuits Platform - tools that help to reduce cost, time and risk in developing mobile web applications to deliver a customized and superior mobile user experience across all mobile and connected devices. The Netbiscuits Platform is supported by a comprehensive ecosystem of web infrastructure vendors and system integrators through our easy to use API and IDE integration tools. Netbiscuits' Cloud platform efficiently and securely delivers a tailored mobile web experience through industry leading testing and detection software and intuitive developer shortcuts to create and deploy rich features on both legacy mobile devices as well as the latest device and feature releases. Netbiscuits Platform enables superior analytics, hosting and monitoring solutions allowing our customers to optimize and maximize user impact and web monetization.
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