The private enterprise mobile platform company, KidoZen, has received a $5 million Series A financing from Third Point Ventures. Since its product was made publicly available in February 2013, KidoZen has continued to gain increased traction and exposure in the enterprise mobility space. During its first year, KidoZen has realized great success in building an impressive Global 1000 customer base, revenues exceeding initial projections. KidoZen has continued to strengthen its offering during this time without institutional investment, until now.
“Mobility is becoming an integral part of the evolving enterprise and this space is changing rapidly. The dynamic team, their innovative platform as a service model, and KidoZen’s continued success and growth, were significant factors in our decision to invest. We believe they will continue to innovate, lead, and define this market,” said Robert Schwartz, Managing Partner at Third Point Ventures.
KidoZen will use this funding to build out its South Florida based sales and business development teams and add to its already impressive product development team. “Our mission is to provide organizations with the infrastructure needed to build a mobile-first enterprise. We have had a tremendous first year. In Third Point Ventures, we feel we have found a great partner that is committed to the long-term vision of the KidoZen platform,” said Jesus Rodriguez, KidoZen CEO.
In addition to expanding its sales and business development teams, KidoZen will utilize the investment to broaden its global customer base throughout more regions and industries where the mobile-first marketplace is continuing to emerge and develop. “We are excited to partner with new participants entering the enterprise mobile application market to facilitate their growth. KidoZen’s mobile platform will increase their productivity and profitability,” said Jesus Rodriguez.
KidoZen is a next generation enterprise mobile application platform that provides enterprise-ready backend capabilities to mobile applications. The KidoZen platform allows organizations to develop and manage enterprise mobile applications that leverage standard development toolkits to seamlessly integrate with enterprise systems. With dozens of mobile-first enterprise connectors and infrastructure capabilities in areas such as identity management, storage and security, KidoZen offers organizations a platform to implement mobile applications that leverage their existing enterprise assets. The platform can be deployed in public, private and hybrid topologies which offer organizations a diversity of models to enable their enterprise mobile infrastructure.
“KidoZen has seen notable success and recognition by some of the top analyst firms in its first year of availability,” said Jason Port, a prominent angel investor and a member of the KidoZen Board. “I’m impressed by the team’s vision and growth, and anticipate substantial development over the next year.” The KidoZen team is expecting the same. By securing this investment from Third Point Ventures, KidoZen will have the resources to increase the tempo on their vision to become the next generation enterprise mobility platform as a service (PaaS).
About Third Point Ventures:
Third Point Ventures is the venture capital arm of Third Point LLC, a registered investment adviser based in New York. The firm was founded in 1995 by Daniel S. Loeb. Third Point Ventures is led by Robert Schwartz, an industry veteran with more than 25 years of experience in private equity and technology company management, and is based in Sunnyvale, California.