SAN DIEGO, Sept. 29, 2011 /PRNewswire/ -- SweetLabs, Inc., the company behind the Pokki app platform and OpenCandy advertising network, today announced it has raised $13 million in Series C funding led by Intel Capital, Intel's global investment organization. Existing investors Google Ventures and Bessemer Venture Partners also participated in the round.
SweetLabs will primarily use the funds to invest in the growth of Pokki, the company's newest platform that lets developers easily create and distribute rich, connected desktop apps using standard web languages like HTML5. The Pokki platform, which was launched in beta on June 28, brings the "app" experience to the desktop by providing PC users one-click, always-on apps much like they've come to expect from mobile and tablet devices.
SweetLabs will also continue to expand their first platform, the OpenCandy advertising network, which powers user-friendly software recommendations during the download and installation process of desktop apps. OpenCandy has powered over 400 million desktop app installs since the product launched in 2008.
"The SweetLabs strategy aligns well with Intel's computing vision," said Marc Yi, managing director at Intel Capital. "Pokki has the potential to reinvent the PC experience and help unify an ecosystem where users interact with rich, always-on apps across all their platforms and devices. We are delighted and look forward to working with the SweetLabs team to contribute to their continued success."
"This investment from Intel Capital will help us achieve our goal of empowering developers to reach the largest, yet ironically most underserved, channel for applications—the PC," said Darrius Thompson, CEO and co-founder of SweetLabs. "We're focused on reinvigorating the desktop by enabling developers to create great apps that can easily be discovered and accessed by a massive audience, and Intel Capital shares our belief in the continued power of the PC. And as a San Diego startup, we're also very excited that awesome investors like Intel Capital and Google Ventures are helping us to put San Diego on the map as a great community for innovative startups."
SweetLabs was founded in 2008 to empower developers to reach new users and monetize great applications. The company's first product was the OpenCandy advertising network, which powers user-friendly software recommendations during the download and installation process. In June 2011, SweetLabs launched Pokki, an application platform that brings the modern "app" experience to the desktop, enabling developers to create engaging, connected desktop applications using standard web languages like HTML5. SweetLabs is based in San Diego and funded by Intel Capital, Google Ventures, Bessemer Venture Partners, and O'Reilly AlphaTech Ventures. Visit www.sweetlabs.com for more information.
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$10 billion in over 1,140 companies in 50 countries. In that timeframe, 191 portfolio companies have gone public on various exchanges around the world and 268 were acquired or participated in a merger. In 2010, Intel Capital invested US$327 million in 119 investments with approximately 44 percent of funds invested outside the United States and Canada. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
SOURCE SweetLabs, Inc.