Investors at Atlanta firms Panoramic Ventures and Fulcrum Equity Partners are continuing to back local mobile experience platform Kobiton. The two firms announced this week they are investing an additional $12 million round in the scaling startup.
“[Panoramic and Fulcrum] fundamentally understand our unique technology and our competitive differentiators,” the Kobiton team told Hypepotamus. “They appreciate the importance of the Mobile Experience in today’s digital mobile-first economy, and, because of that, have been strategic voices to help us refine our strategy, roadmap, and go-to-market by lending us their expertise and access to talent. It’s a win-win when your investment partners are so closely aligned with your strategic direction and with the entire team.”
Panoramic (new venture division of BIP Capital) and Fulcrum were both earlier investors in Kobiton’s previous Series A.
Kobiton has made a name for itself in the mobile testing place by providing visual, functional, and performance testing on real devices all in one platform. To date, they have attracted large retail, gaming, and financial services customers along with high growth “unicorns.” It has tripled its users and seen compounded annualized ARR growth in excess of 250% since its initial seed funding in 2018, according to a press statement.
The additional funding will continue to grow Kobiton’s AI and ML approach to mobile testing and “scriptless automation capabilities” for customers looking to make sure apps look and run smoothly across all devices.
“The future of customer interaction is multi-experience, and mobile is core to delivering the multi-experience vision. Kobiton’s strong growth, market leadership, and customer retention embodies what we look for in companies, and we’re excited to continue the growth journey with them,” added Fulcrum’s Jim Douglass in a statement.
The funding comes on the heels of an impressive growth run for Kobiton, which acquired Mobile Labs, Inc. late last year. The acquisition added “significant IP to [Kobiton’s] product portfolio through their world-class on-premises device management solutions and unbeatable speed and low latency technology.”