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Softbank leads $50M round in enterprise mobile app firm Kony

The Kony booth at the Telematics Detroit 2014 conference.

Above: The Kony booth at the Telematics Detroit 2014 conference.

Image Credit: Kony / Facebook

Softbank Capital just made a big bet on Kony’s cloud-based development tools for enterprise mobile apps.

Altogether, Kony secured $50 million in new financing, the company announced today. But that sizable sum is reportedly only half the size of the company’s annual revenue. An anonymous source cited by Reuters pegs Kony’s annual revenue at $100 million, saying the company is close to an initial public offering.

Founded in 2007, the Florida-based company makes a cloud-based mobile application development platform. Enterprise customers use said platform to build smartphone and tablet apps. Its mobile backend service includes a variety of prebuilt, cross-platform services for business processes such as human resources, customer relationship management, field services, and more.

Kony says it serves 20 million mobile app users across 45 countries each day. It added 100 new customers last year, including Aetna, SunTrust Banks, Sirius XM, and Coca-Cola.

Softbank Capital, the venture capital arm of Japanese telecommunications giant Softbank, led the $50 million financing in Kony. A number of other venture capital firms participated, including existing investors Insight Venture Partners, Telstra Ventures, and Georgian Partners, as well as new investors Delta-V and Hamilton Lane.

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