Onavo, a developer of a mobile app that is designed to make mobile data
consumption transparent, manageable and efficient, has closed a $3m Series A round of funding.
Investors include Sequoia Capital and Magma Venture Partners.
The company intends to use the funds to expand the app to additional platforms and further evolve the services.
Launched last month, Onavo is currently available on iPhone and iPad and soon for Android devices.
The service help users regain control over mobile data usage and lower related costs by applying compression to shrink apps’ data consumption and providing visibility into the device’s data usage.
In conjunction with the funding, Yahal Zilka of Magma Ventures Partners and Gili Raanan of Sequoia Capital will join Guy Rosen, Onavo Co-Founder & CEO, on the company’s Board of Directors.
FinSMEs
18/05/2011