Capriza raises $23m in series C extension, cites ‘soaring’ demand as key
Enterprise app development firm Capriza has announced it has raised $23 million (£17.4m) as part of a series C extension, with existing investor Andreessen Horowitz leading the round.
The round, which adds to the $27m secured back in October 2014, will be used to meet what the firm claims is ‘soaring’ demand for ‘smart, mobile business apps that empower users at the edges of the enterprise to take the actions based on relevant, real-time information, needed to run an effective, competitive, and efficient organisation.’
“Capriza’s mission is to deliver on the power and promise of the mobile enterprise by giving every workers access to their office systems, applications and data wherever they are on their device of choice,” said Yuval Scarlat, Capriza CEO in a statement. “In the last 24 months, we have made enormous strides and this latest round of funding is a testament to our momentum and our world-class customer list.
“The world is shifting from mobile-first to mobile-only and we believe organisations who make mobile applications a priority today are the ones that will win,” Scarlat added.
The company cites in the press release announcing the news a Gartner prognostication which argues its business case; throughout 2017, the analysts believe, “the market demand for mobile app development services will grow at least five times faster than the internal IT organisation’s capacity to deliver them.”
Being able to deliver quality enterprise applications at scale and mobilising legacy software from the likes of SAP and Oracle quickly is an increasingly alluring prospect for enterprises looking to up their efficiency through mobile, and thus many horses are in this particular field. Capriza is arguably the best known, with this latest round of venture capital taking overall funding up to $73 million.
Speaking to this reporter last year, Russell Acton, VP and GM international at Capriza, argued the need for more nuance when it comes to delivering on mobile. The traditional use cases, of either porting the desktop experience onto mobile, or simply throwing the kitchen sink at it, is no longer viable. “If you’re on your mobile phone, you don’t care about anybody else,” he said. “I think that having that contextual personal experience is something that people are learning to get their head around. It’s almost like [minimum viable product] – what’s the least amount of information you need on there?”
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