Neunob the company that speeds up mobile apps, today announced that it has closed an $8.5 million round of series A financing led by Accel Partners. The funding will accelerate Neumob's go-to-market and business-to-business customer acquisition strategies as the company delivers on its mission to bring better, faster app performance to billions of mobile users around the world.
Additional institutional investors in the round include Shasta Ventures, Eniac Ventures and Lightbank Ventures. Some notable private investors have also chosen to invest in this round including: Rob Glaser, founder and CEO of RealNetworks, a pioneer of streaming on the Internet; Tien Tzuo, founder and CEO of Zuora; and Gokul Rajaram, Head of Product Engineering at Square. As part of the financing round, Rich Wong, a partner at Accel, will join the Neumob board.
Neumob is the world's first end-to-end mobile app accelerator for app developers. The main components of the Neumob accelerator – the Neumob global network for mobile acceleration and the Neumob app accelerator SDK – combine to make mobile apps perform 2 to 10 times faster than normal, regardless of the distance between app creators and their audience.
Mobile users spend 86 percent of their time in mobile apps, versus just 14 percent on the mobile web, according to Flurry Analytics. At the same time, comScore states that 96 percent of mobile users view app speed and responsiveness as very important to them, and the majority expect app response times of three seconds or less.
"While working on website content delivery network (CDN) issues with business customers like Microsoft and Candy Crush, it was clear that very few companies had the means to optimize mobile app performance," said Jeff Kim, Neumob co-founder and chief executive officer. "Having worked for CDNs for the past 15 years at Akamai, BitGravity and CDNetworks, I knew we had designed powerful solutions for the desktop web browser world, but nothing existed to optimize mobile app performance. Delays between 10 and 30 seconds frequently occurred, because the systems aren't built to perform through the Internet-to-mobile handoff, or 'mobile last mile'. Customers needed a solution, and I knew the only way to speed their apps significantly was to start over with a mobile-first solution focused on apps and the 'mobile last mile'."
"Neumob is playing in a huge and accelerating mobile ecosystem," said Rich Wong, partner at Accel. "By bringing a solution to market that has the potential to help leading mobile applications resolve 80 percent of mobile app delay time, Neumob isn't just making mobile app performance better, they're helping companies make stronger connections with new and existing customers."
