July Systems, a mobile application platform provider, has raised $15 million in a recently closed funding round led by Updata Partners with participation from Intel Capital and WestBridge Capital.
The company says it intends to use the funding to accelerate its product roadmap, boost “sales momentum” and increase market reach, which is similar to what it had planned to do the last time it raised money: the company had raised an undisclosed amount in a follow-up funding round from Intel Capital, last year, before which it raised $7 million in a series-C funding round led by Intel Capital, alongwith Sequoia Capital and Footprint Ventures. Prior to that, it had raised $8 million investment from Westbridge Capital (now Sequoia Capital India) and Acer Technology Ventures, though it changed its business model afterwards. That means that the company has raised (or announced) at least $30 million in funding so far.
July Systems develops cross-platform mobile content applications for media brands like ESPN, Toys R Us, Intel, Unilever, CBS, and the NBA. It claims to have reported an increase in revenue run rate of more than 60 percent across U.S. and international geographies, including the UK, Middle East and Asia, in 2011.
We’re not sure if it is still servicing clients in India: at one point in time, it used to manage sites for HT Media, Network18, Livemint and others. It also had exclusive rights to the mobile Internet portal M.IPLT20.com, the official site for the third Indian Premier League on the mobile, in 2010 for a period of 2 years, though, at the time of writing this post it is hosted and maintained by ZMPL (Zenga). July Systems India had an equity deal with Global Cricket Ventures, July Systems CEO Rajesh Reddy had told MediaNama in 2010.
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