Kony is a fast-growing, cloud-based digital application and low-code platform company that offers the Kony DBX digital banking suite and the Kony Quantum low-code platform. Kony DBX provides pre-built native and web apps and a purpose-built digital banking platform to help banks and credit unions deliver frictionless digital experiences. Kony Quantum combines low-code ease and speed with enterprise-grade digital experience capabilities to build mission-critical web and mobile solutions. The company serves financial services clients globally, including banks, credit unions and insurance companies, and has recently partnered with new customers around the globe. Kony says it will use new financing to accelerate growth of its market-leading Kony DBX and Kony Quantum platforms and support customer digital transformation. Kony has been recognized as a leader in analyst reports including the Gartner Magic Quadrant for Multiexperience Development Platforms, multiple Forrester Wave reports, and the IDC MarketScape assessment; the company is based in Austin, Texas. Kony offers the Kony Experience Platform, an integrated SDLC platform to define, design, develop, test, deploy, and manage multi-channel mobile applications from a single codebase. The company positions itself as a leader in enterprise mobility and provides ready-to-run B2E and B2C apps to accelerate customer deployments. Kony reports hundreds of enterprise customers, over 600 live multi-channel apps, and more than 20 million end users across 45 countries (also cited as 20 million daily users). Leadership framed the new funding as support for an aggressive agenda for global growth and market leadership in enterprise mobility. Kony highlights industry recognition including Gartner’s Leaders quadrant for Mobile Application Development Platforms and several awards that underscore its market position. The company states the platform helps customers get to market faster and lower application TCO. Kony is a mobile and multichannel application platform and packaged applications provider that offers customizable pre-built apps, the Kony Platform, and a mobile application management solution. Its products let customers build apps once and deploy them across multiple devices and operating systems. Kony reported a record fiscal 2013, growing 90% year over year and serving 250 customers including Fortune 500 companies and global brands. The company added cloud expert Abhay Parasnis as president and COO and plans to further develop its cloud offerings. Kony will use the Series D proceeds to expand into the Asia Pacific market, invest in product development, marketing, sales and operations, and accelerate U.S. growth. A reseller agreement with Telstra is intended to extend Kony’s reach into APAC by enabling Telstra to resell Kony’s solutions and provide cloud hosting and infrastructure services to enterprise customers. Kony Solutions offers KonyOne, a development environment and mobile middleware that lets enterprises build and launch apps across native OSes, HTML5 browsers, single-page apps, hybrids and BYOD deployments. The company has added vertical off-the-shelf app suites for banking, healthcare, retail and travel. Its platform supports more than a billion user sessions annually and has attracted more than 70 Fortune 500 customers, banks, airlines, and companies in automotive and insurance. As of the end of FY2012 the company reported more than 200% growth in bookings and had added over 30 global customers, including Aetna, CIBC, Independence Blue Cross, Scottrade and Sun Life Financial. Kony has patents pending on KonyOne and was named a “Visionary” by Gartner. The startup plans to use new funding to expand sales and marketing, pursue regional expansion, and ramp up hiring. Kony Solutions offers a cross-platform mobile application platform that enables developers to write once and run everywhere across native apps and device-optimized mobile websites. The platform supports more than 8,500 mobile devices and over 15 browsers, and serves millions of users worldwide. Kony also sells vertical market mobile solutions and reports engagements with more than 35 Fortune 500 brands. The company announced a $19.1 million Series A financing that it says will fund expanded research and development of its mobile application platform. Kony plans to use the financing to accelerate the global rollout of its sales and marketing organization. The article notes a competitor, Netbiscuits, also recently raised funding from T-Venture and Creathor Venture.

Total raised

$139M

Funding rounds

5

Latest round

Debt Financing

Latest activity

Jul 2019