Mobile software company Kony Solutions, provider of services to the likes of United Airlines, has secured its first source of outside funding with a $19.1 million injection from Insight Venture Partners.
The investment will come in two parts, with the first tranche of $13.4 million devoted to research and development and expanding the product overseas.
Until the investment from Insight Venture announced today, Kony was entirely self-funded with no capital from outside sources.
Kony has targeted the airline industry as well as clients in the hotel and car hire sectors, alongside its other clients in insurance, banking and automotive.
Central to the Kony offering is a system - known as Write Once, Run Everywhere - which allows companies to develop browser applications to work across multiple mobile systems.
The boasts that its product will run on 8,500 devices, tablets and operating systems including Apple iPad, iPhone, Android, Blackberry, Symbian and Windows platforms.
NB: TLabs Showcase - Kony Solutions