Wednesday, October 10, 2012

Funambol Secures Funding for White Label Personal Cloud

Funambol  (pronounced Fu-NAHM-bol), a start-up offering white-label personal cloud solutions for mobile providers, announced $5.75 million in new funding.

Funabol believes the market for personal clouds is transitioning from 'silos' such as iCloud, Google Drive and MS SkyDrive to services that seamlessly support multiple brands to enable users to store all of their content in one cloud for convenience. Funabol's solution help consumersto keep their digital life in sync, including support for pictures, videos, files, music, contacts and calendars, while supporting multiple brands of devices. The providers are also realizing the business case for significant financial returns resulting from reduced customer churn, increased customer acquisition and new revenue streams.

 "Major global mobile providers are seeking a white-label personal cloud solution, and we are delighted to work with them to grow their customer acquisition and retention capabilities," said Amit Chawla, Funambol CEO.

The new financing came from Nexit Ventures and Castile Ventures and HIG Growth Capital.

  • Funambol is based in Foster City, California.  The company is headed by Amit Chawla (CEO), who previously was CEO of enterprise mobility specialist Agito Networks, which was acquired by ShoreTel.  Prior to Agito, he was CEO of NexVerse Networks, where he spearheaded the merger with a division of ECI Telecom to form Veraz Networks.