Kony Raises $15 Million

Gail Chiasson, North American Editor

Kony Solutions, Orlando-based creator of a mobile app development platform, (with West Coast operations in San Mateo, California) has raised US$15 million in a third round of funding, led by Insight Venture Partners.

Kony plans to use the funds for operations growth, sales and marketing programs and regional expansion. Earlier this month, the company announced that it had become the first mobile platform provider to support the new MasterCard PayPass Wallet Services.

Kony is the mobile application development platform provider of choice for the world’s largest IT organizations, including more than 70 Fortune 500 companies, the largest global bank, and many of the U.S.’s largest airline, automotive and insurance companies.

The company announced that it completed its fiscal year (ended March 31, 2012) growing more than 200% in bookings and adding more than 30 major new global customers, including, among them, Aetna, CIBC, Scottrade and Sun Life Financial.

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