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Xamarin announced that it raised US$16 million in Series B round. The round was led by Lead Edge Capital. The company's Series A investors also participated in the round. These Series A investors included Floodgate, Charles River Ventures, and Ignition Partners. The total funds raised have now reached US$28 million.

The funds from this round will be used to increase investment in the company's developer platform, according to Nat Friedman, Xamarin's Chief Executive Officer. In particular, the investment will be used for its Test Cloud and its pre-built component and apps which aimed to help developers build great apps faster. In addition, Xamarin also planned to add to its sales team by the end of 2013.

The latest round was closed with the motivation of positioning Xamarin to dominate the mobile development market. Friedman stated that the company was growing significantly faster compared with its competitors. In addition, the company also announced the growth of its developer community. Its developer community now has over 350,000 members, including 20,000 paid developer seats.