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Smartphones and their add-on apps are increasingly catching the eyes of angels and other venture-capital investors as the war between product offerings heats up, Arthur Iinuma, COO at cross-platform mobile developer ISBX, told VentureBeat Monday.
Iinuma said the nine-month-old Los Angeles-based smartphone-focused development shop has seen revenues grow an average of 25 percent every month since its founding. On the strength of those numbers, ISBX announced Monday that it had raised $750,000 in funding from The Chen Group, Taiwan-based angel investors.
At a time when many app developers focus first on the iPhone, then Google’s Android operating system, and leave other mobile platforms as an afterthought, ISBX builds mobile apps for brands and businesses across all mobile platforms including iPhone, BlackBerry, Android, Windows Phone 7, and Symbian. Customers include Warner Bros., Sony Pictures, Glam Media, and the Ultimate Fighting Championship.
This sort of seed money sown in smartphone-related startups is only the beginning of a rush of venture capital into the sector, predicted Iinuma (pictured here).
“This is most certainly the tip of the iceberg, since the mobile universe is one of potentially significant scalability, but is still in the early stages of innovation,” said Iinuma. “Growth in VC activity in this sector will, no doubt, spur a wave of innovation, but more importantly, signal the VCs’ acknowledgement that mobile application technology needs to be given serious consideration in today’s fast-paced world of mobile phones. Our market research consistently informs us of the potential for significant expansion of the mobile app universe, with enterprise poised as the next growth segment.”
Iinuma added that institutional interest in mobile application technology is something that is not unique to the States, with some of the largest user bases coming from a diverse group of smartphone platforms in Asia and Europe.
“There there are savvy investment groups based in those regions that are not going to let Sand Hill take all the winnings for themselves,” said Iinuma, referring to northern California’s cluster of venture-capital firms near Stanford University.
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