San Franciso-based Cotap snags $10M in Series B led by Emergence Capital Partners

By Nicel Jane Avellana

Jan 28, 2014 11:08 AM EST

Enterprise mobile messaging service Cotap secured $10 million for its Series B financing round. The amount brought to $15.5 million the company's total funding raised so far. The financing was led by Emergence Capital Partners. Charles River Ventures, the company's existing backer also participated in the fundraising.

Based in San Francisco, Cotap's founders are former Yammer executives Jim Patterson and Zack Parker. They launched the company in October last year and so far, there are already more than 6,000 firms utilizing the app.

The secure mobile messaging app, which can be downloaded for free at the App Store, allows employees to link and work together across departments and workplaces. Colleagues don't need to ask for phone numbers if they want to connect with a coworker as anyone with a work email address can sign up and message any member of the company. Aside from secure messaging, Cotap also allows users to synchronize their calendars so that those who are going to attend meetings can be updated with changes and other information.

In a statement about the funding, Cotap said proceeds from the latest round will be utilized to quickly scale the company's engineering, sales and marketing teams so as to fuel growth. It will also be used to develop the app to new mobile platforms. The company said it expects to launch Cotap for Android in the first quarter of this year, together with the app's premium version.

Cotap Founder and Chief Executive Officer Jim Patterson said in the statement, "Mobile is as big a paradigm shift in enterprise software as cloud computing, the type of change that only comes around once every decade. We now have the opportunity to use mobile to connect and empower every employee in every company in the world, not just those people traditionally categorized as 'knowledge workers.' Cotap's mission is to make every worker a knowledge worker. This new capital provides us with the flexibility to expand quickly and strategically, as well as fuel adoption and engagement in the enterprise."

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