Framehawk Raises $11 Million in Series B Funding
Stealth-Mode Start-Up to Accelerate its Business Delivering Critical Enterprise Applications on Mobile Devices
SAN FRANCISCO, Dec. 6, 2011 /PRNewswire/ -- Framehawk, Inc., today announced it has closed $11 million in Series B financing from Matrix Partners and existing investors. This new round of financing will help the stealth-mode start-up accelerate its development and business infrastructure to deliver the company's enterprise mobility software to large organizations worldwide.
"Adding the financial backing and expertise from Matrix Partners alongside our existing investors will help us meet the surging demand we see from large organizations looking to bring applications to mobile devices," said Peter Badger, Framehawk CEO and co-founder. "We believe there is a huge opportunity with customers who need to quickly make applications available from mobile devices like the iPad without compromising user experience, security, or device reach."
"We think Framehawk will fundamentally change how organizations access their key applications from mobile devices," said Andy Verhalen, general partner, Matrix Partners. "We are excited to help them build a world-class company to address this huge opportunity."
"Framehawk has demonstrated significant traction since our initial investment," said Bill Coleman, founding CEO of BEA Systems, Inc., and now a partner at Alsop Louie Partners. "This new round of financing is truly a testament to Framehawk's exceptional team, domain expertise, and disruptive technology solution."
Framehawk previously raised $5.5 million from Alsop Louie Partners, Correlation Ventures, and Triangle Peak Partners.
About Framehawk, Inc.
Framehawk, Inc., is a start-up software company focused on bringing breakthroughs in mobility to users of business applications in the enterprise.
Framehawk is currently working with a select set of customers to power some of the most innovative, secure, and feature-rich mobile business applications in the world. Companies are working with Framehawk to enable the use of their existing enterprise applications and content on mobile devices like the iPad, without requiring organizations to rewrite their applications. The Framehawk solution delivers real-time performance over any network, while maintaining enterprise-level security. Framehawk's unique approach provides business with the fastest and most cost-effective path to bring their applications and content to their customers and employees on mobile devices today.
Framehawk was founded in 2008 and is based in San Francisco, with offices in New York and London. The company is currently in stealth mode and is focused on delivering its solutions to initial customer deployments. To hear more details about the company as they become available, visit www.framehawk.com or follow @Framehawk on Twitter.
About Matrix Partners
Matrix Partners is a premier venture capital firm that has generated outstanding returns for over three decades. The firm has delivered several of the industry's top performing funds of all time. Matrix Partners has offices in Waltham, MA; New York, NY; Palo Alto, CA; Mumbai, India; and Beijing and Shanghai, China. The firm has been fortunate to have invested in game-changing, industry-leading businesses such as Apple Computer, Sandisk, Veritas, Sycamore Networks, Phone.com, Starent Networks, JBoss, and Gilt Groupe. http://www.matrixpartners.com
About Alsop Louie Partners
Alsop Louie Partners is an early-stage technology venture firm based in San Francisco, CA. The firm looks for outstanding entrepreneurs who want to start and grow companies that will be significant drivers of the next technology cycle, which it calls the Evernet. The firm was founded by Stewart Alsop, industry pundit and venture investor, and Gilman Louie, video game entrepreneur and cybersecurity investor. http://www.alsop-louie.com/
About Correlation Ventures
Correlation Ventures leverages world-class analytics to offer entrepreneurs and other venture capitalists a dramatically better option when they are seeking additional capital to complete a financing round. The firm makes investment decisions in two weeks or less and offers reliability and transparency about reserves and its intentions to follow in future financings. Correlation Ventures invests across all industry segments, U.S. geographies, and investment stages – from seed through late stage. Correlation Ventures has offices in San Diego and Palo Alto, CA. For more information, visit http://www.correlationvc.com.
About Triangle Peak Partners
Triangle Peak Partners Private Equity, LP is focused on venture capital and private equity investments in private and public companies in the technology, energy, and alternative energy sectors. It is managed by Triangle Peak Partners, LP, which has over $300 million in assets under management, $165 million of which is in venture capital and private equity, and has offices in Carmel, Palo Alto, and Houston. For more information, visit http://www.trianglepeakpartners.com.
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