CloudOn has raised $16m in its second financing round. The Social+Capital Partnership led the round, joined by Translink Capital and existing investors Foundation Capital and Rembrandt Venture Partners. The company's free, cloud-based service CloudOn 2.0 enables iPad owners to use Microsoft Office and Adobe by creating Word, Excel, and PowerPoint documents.
CloudOn will use the funding to scale business operations and develop a productivity workspace available on any mobile device. It also plans to expand its workspace to allow for improved group productivity, giving teams the ability to not only create content but also bring greater context to their workflow. CloudOn co-founder and CEO Milind Gadekar said, “We now have the ability to capitalize on our early success and fulfill our vision of transforming mobile productivity."
CloudOn's Gadekar, CTO Shuki Binyamin and VP engineering Meir Morgenstern founded CloudOn in 2009. It has offices in Palo Alto and Herzliya.
The company says that it has had more than one million downloads of CloudOn 2.0 since its launch in January 2012. The app was first released in the US and immediately skyrocketed to become the no. 1 free app and the no. 1 productivity app for iPads, and has remained a top ten productivity app ever since. CloudOn has since launched for both iPads and Android tablets in 19 additional countries across North America and Europe, becoming the no. 1 free app in 10 countries and the no. 1 productivity app in 18 countries. The company plans to continue to aggressively increase its user base worldwide and expand its product offering, partnerships, and platforms.
CloudOn has already partnered with Microsoft Corporation (Nasdaq: MSFT), Adobe, Dropbox, Box and Google Inc. (Nasdaq: GOOG). It plans to expand its partnerships to integrate more applications and storage solutions to create the most usable and comprehensive mobile productivity solution on the market. It also plans to develop its app onto additional platforms, including smartphones and PCs.
Published by Globes [online], Israel business news - www.globes-online.com - on June 24, 2012
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