Mobile app developer software Kidozen nabs USD5 million from Third Point Ventures
Miami-based startup Kidozen lands a USD5 million investment from Third Point Ventures. The fast-growing startup could use the new funding from the private equity firm in scaling its business as it recent;y emerged from private beta in February this year.
Kidozen creates software for mobile app development designed for enterprises to integrate it with major business software systems. According to VentureBeat, Kidozen's advantage from major industry providers like SAP or IBM is that the former's platform-as-a-service offers 14 mobile software development kits that covers various popular enterprise data systems unlike the latter's close ecosystems. This means that enterprises could write a custom CRM app that will be able to tap both, or switch to either Dynamics or Salesforce's CRM data with less friction.
KidoZen co-founder and chief executive officer Jesus Rodriguez told VentureBeat the company's rationale in building its platform, "We don't say, ‘Hey, Mr. Customer, you need to develop here on my platform.' We should be past that as an industry. The things that some of our clients are doing are solutions I never thought could exist in the market - not that KidoZen is a key requirement for those solutions, but it's a great solution and facilitator."
Since February this year, Kidozen is about to reach USD5 million in revenue, thanks to 67 of its Global 1000 customers, said Rodriguez. The mobile app software platform's clients are from various industries ranging from banks and retail vendors to major tech firms like Citrix. VentureBeat noted that Kidozen will be focusing on the health care businesses.
The company's platform is healthcare industry regulation compliant that it had already secured some of the major industry companies in the healthcare industry like UnitedHealthcare. For example, some of Kidozen's clients had built apps for accessing medical records electronically or apps with gaming techniques to increase motivation in staff member responsiveness to patients.
Kidozen also said it will be using some of its proceeds from the new funding to expand its 19-employee team by adding members to its business development and sales teams, and plans to roll out new products soon.