Verivo Software, rebranded from Pyxis Mobile, offers an enterprise-focused app development platform that lets clients build, deploy and manage apps across device types using a drag-and-drop interface. The company pivoted from building custom apps for financial services to selling a licensable platform that several clients already use, including Bunzl, Indiana State University, Healthrageous, Allstate, Halliburton and Oracle. Management says the platform enables customers to distribute development power and scale improvements rather than fixing individual client apps. Verivo reported license bookings growth of 220 percent and a 50 percent increase in revenue run rate in 2011. The company plans to use new financing for marketing, product development, recruiting, building APIs and expanding globally with new offices in Europe and Asia.

Total raised

$17M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2012