Meteor Raises $20M in Series B Funding

Matrix Partners leads round to accelerate the open-source Meteor JavaScript platform, enabling a new generation of web and mobile applications

May 19, 2015, 11:00 ET from Meteor

SAN FRANCISCO, May 19, 2015 /PRNewswire/ -- Meteor Development Group (MDG), the company behind the popular Meteor open source application development platform, today announced it has raised $20 million in Series B funding. Matrix Partners led the round, with participation from Andreessen Horowitz and Trinity Ventures. As part of the announcement, Meteor also announced that David Skok of Matrix Partners will join the board of MDG alongside Meteor founders, Geoff Schmidt and Matt DeBergalis, and Rod Johnson, founder of the Spring Framework.

The funds will be used to accelerate growth of the company's engineering, support, and business operations activities with the aim of making app development radically easier for developers everywhere. As a result, the company will be better positioned to deliver on the promise of a platform for modern web apps comprising reactive, multi-device experiences, best-in-class operations capabilities, and a thriving ecosystem of platform extensions, packages, and tools.

"The Meteor team understands the needs of application developers. It has built a platform that makes it very easy for any developer to build modern cloud/client applications for servers, browsers, and mobile devices while using a single code base," said David Skok, general partner at Matrix Partners. "This is a massive undertaking, and scaling an open source platform is incredibly difficult, but after working closely with Matt and Geoff over the past two years and seeing the support they're receiving from the developer community, we are convinced that this is the team that can deliver."

"The major trend in application development is a movement towards thick-client architectures driven by the proliferation and increasing compute power of mobile devices," said Rod Johnson, founder of the Spring Framework and member of MDG's board. "What we're learned is that traditional web development frameworks simply aren't suited to build these types of applications. Meteor, on the other hand, was designed from the ground up as a full stack reactive JavaScript platform that makes it fast and easy for developers to build the user experiences the market is demanding, using the skills that they already have."

"With tens of thousands of active users a month and a thriving community across the globe, Meteor is well on on its way to becoming the choice for a JavaScript App Platform," said Dan Scholnick, general partner at Trinity Ventures. "Adoption by everyone from hobbyist app developers to large enterprises is indicative of the platform's impressive capabilities for development teams of all sizes."

"We are in an excellent position to accelerate the platform roadmap, respond to the growing needs of our customers, and better serve the amazing community contributing to and building apps with Meteor," said Geoff Schmidt, CEO of Meteor Development Group. "We're excited to have David Skok join the Meteor board of directors, as each board member brings a wealth of expertise in application development technologies, open source community building, and overall business execution necessary to guide the company and deliver on Meteor's promise."

About Meteor
Meteor is the JavaScript App Platform setting the standard for modern cloud/client architectures for mobile and web. Meteor's JavaScript based framework is making app development radically simple for developers everywhere. The open source Meteor project is overseen by San Francisco-based Meteor Development Group, backed by Andreessen Horowitz, Matrix Partners, Y Combinator, and individual investors. Meteor was created in 2012 by Geoff Schmidt, Nick Martin, and Matt DeBergalis. Meteor is available for download here: https://www.meteor.com

About Matrix Partners
Matrix Partners backs passionate entrepreneurs who have the vision and unstoppable drive to make a difference in the world. Our general partners have lived the entrepreneurial journey you are on and we stand behind you, offering personalized guidance and services to maximize your success. From our beginnings with Apple, Sycamore Networks and Veritas, to recent investments in Oculus VR, Zendesk, Hubspot, JustFab, Gilt, Meteor and more, we've earned the trust of each founder we've supported. Find us in Palo Alto, Cambridge, Shanghai, Beijing, and Mumbai, at matrixpartners.com or @MatrixPartners

CONTACT: Jill Ratkevic, 1-408-209-5181, jill@blackswansmedia.com

 

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