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HipLogic, a company that brings features and apps from smartphones to regular feature phones, just raised $7 million in a second round of financing with Bay Partners as the lead investor. Stage 1 Ventures, Benchmark Capital and Accrue Sports and Entertainment Ventures also participated in the round.
“The top 1 percent of users are buying 30 percent of applications and that’s primarily on one platform — the iPhone,” said HipLogic CEO Mark Anderson. “Operators and manufacturers have a thirst for getting this content onto their platforms. The question facing us is how do you get a rich experience across multiple platforms, and open and closed systems?”
HipLogic’s technology lets users on this larger lower-tier of the market access social networking and entertainment content at a fraction of the bandwidth that’s required by other mobile browsers. HipLogic’s partners, which are operators like Verizon, can install their technology on phones or reach it through a downloadable client.
Formerly known as Numobiq, the company has 20 employees, and is using the round to expand distribution and its operations in the Americas and overseas. They just initiated a partnership with the U.K.’s Carphone Warehouse. The round brings HipLogic’s total funding to $13 million, including a first venture-backed round of $4.5 million in January of 2008.
“We want to take this really content rich application experience and bring that to mass-market devices worldwide,” Anderson said.
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