Telstra Ventures invests $18.3 million in Kony Solutions

Telstra Ventures has invested $18.3 million in Kony Solutions, a mobile and multi-channel application platform.

The investment is part of Kony Solutions’ Series D round of financing.

In May 2012, Kony received Series C funding of $15 million led by Insight Venture Partners and Georgian Partners.

Kony is planning to utilize part of this funding to expand in the U.S. and Asia Pacific markets, develop its cloud business by investing in product development, marketing, sales and operations.

The companies also entered into a reseller partnership, enabling Telstra to resell Kony’s solutions to its large established customer base.

As per the reseller agreement, Telstra can provide value to its enterprise customers through its cloud hosting solutions, infrastructure and other services, extending Kony’s reach into the important APAC region.

In fiscal year 2013, Kony’s revenue rose 90 percent.

Raj Koneru, CEO of Kony, said: “With Telstra’s investment, 2014 is shaping up to be an even bigger year, with the opportunity to leverage Telstra’s well-established customer channels and further solidify our domination in the enterprise mobility marketplace.”

Telstra Ventures Managing Director Mark Sherman said: “Kony offers business and enterprise customers a library of pre-built mobile applications including the Kony Platform that enables customers to write their own applications and deploy them across multiple channels simply and at low cost.”

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