Photo: CloudOn Team
By Bill Klump | @TheKlumper
CloudOn, a leader in mobile productivity, today announced it has closed a $16 million Series B funding round led by The Social+Capital Partnership (Social+Capital) with participation from Translink Capital and existing investors Foundation Capital and Rembrandt Venture Partners. The company is also announcing the addition of Mamoon Hamid, General Partner at Social+Capital, to their Board of Directors.
“We are excited to close our Series B and have Social+Capital join the CloudOn team,” says Milind Gadekar, co-founder and CEO of CloudOn. “We now have the ability to capitalize on our early success and fulfill our vision of transforming mobile productivity.”
CloudOn, known for bringing Microsoft Office and Adobe Reader to a native mobile experience, launched in January 2012 and has seen phenomenal success and traction among consumers and enterprise users, blowing past 1 million downloads in less than 5 months. The app was first released in the US and immediately skyrocketed to become the no. 1 Free App and the no. 1 Productivity App for iPads, and has remained a top 10 productivity app ever since. CloudOn has since launched for both iPads and Android tablets in 19 additional countries across North America and Europe, becoming the no. 1 Free App in 10 countries and the no. 1 Productivity App in 18 countries. Going forward, the company plans to continue to aggressively grow its user base across the globe and expand its product offering, partnerships, and platforms.
“We’ve been following CloudOn since their launch and are excited to see their success in the market,” said Mamoon Hamid. “They are addressing a growing problem in the enterprise as employees are looking to be more productive across their PC, tablets and smartphones while they are on the go. I’ve invested in and work closely with two disruptive companies, Box and Yammer, and see similar potential with CloudOn to bring easy to adopt and easy to use productivity software into the enterprise.”
The company will use the funding to scale business operations and develop a productivity workspace available on any mobile device. This workspace will redefine mobile productivity by making it easy and intuitive to create, review, edit, share, track and annotate information while on the go. CloudOn also plans to expand its workspace to allow for improved group productivity, giving teams the ability to not only create content but also bring greater context to their workflow.
CloudOn, has already partnered with Microsoft, Adobe, Dropbox, Box and Google, and will continue to grow its partnerships to integrate more applications and storage solutions into its workspace to create the most usable and comprehensive mobile productivity solution on the market. CloudOn will also be expanding to additional platforms, including smartphones and PCs.
“We are extremely impressed with CloudOn’s signature vision and strong executive team, which have made the company into a venerable market leader,” said Charles Moldow, general partner at Foundation Capital. “I have watched CloudOn grow from its infancy when Milind was incubated in the Foundation Capital offices, and have observed a consistent series of successes since. The recent funding as well as impressive international growth reinforce the company’s market leadership and potential.”
CloudOn is available for download now in the Apple App Store and Google Play.
