Kumulos, a Dundee, Scotland, UK-based software company which has developed a platform for managing mobile apps, completed a £750k funding round.
Backers included Mercia Fund Managers, the Scottish Investment Bank and angel investors.
The company intends to use the funds to expand its technical and sales and marketing teams, and invest in marketing activities to drive its growth.
Set up in 2015 as a spinout from Waracle, one of the UK’s largest mobile app development agencies, and led by Mark Petrie and Bob Lawson, Kumulos provides a platform that incorporates multiple tools to allow companies and developers to improve the performance of their mobile apps. The system provides data on user engagement and allows them to optimize their ranking on the App Store and send notifications to customers.
The company, which now has customers in 23 countries, previously received £500k investment from a number of private investors to develop its product.