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Intel Capital Leads $9M Investment in FeedHenry to Power Growth in Cloud-Based Mobile Enterprise Solutions

FeedHenry, a provider of cloud- based mobile enterprise application solutions, today announced that it has secured $9M (€7M) in a funding round led by Intel Capital. The funding includes a seven figure investment from existing investor Kernel Capital. Other existing investors VMware Inc., Enterprise Ireland and private investors also participated and were joined by new investment from ACT Venture Capital. This new funding will provide FeedHenry with the capital to accelerate the international roll out of its mobile application platform that draws on critical cloud-based technology.

FeedHenry provides a next generation mobile application platform that helps businesses build mobile app solutions that integrate securely to their business through the cloud.

“Increasingly, enterprises are viewing mobile apps as transformative to their business operations,” commented Cathal McGloin, CEO, FeedHenry “As organizations evolve towards more complex apps with connections to multiple backend systems, the need for a cloud-based mobile application platform is compelling. This new investment will give us the means to continue to innovate and expand the capabilities of our platform to better serve our growing customer base.”

“FeedHenry has already gained significant momentum and credibility in the enterprise mobility market segment and we see this investment as a way to contribute to its growth and international expansion,” said Marcos Battisti, Managing Director for Intel Capital, Western Europe and Israel. “The mobile application market segment for enterprise is at a tipping point and those companies delivering a comprehensive solution that provide both an end to end mobile development strategy and a way to implement applications easily and securely will be at the forefront of the market segment.”

According to Forrester’s Enterprise Mobility Research Report, the mobile apps market segment is expected to reach $37 billion by 2015. Since FeedHenry’s inception, the company has seen significant traction of its cloud-based mobility platform with global customers in a wide range of industries including healthcare, travel and transportation, business services and utilities. Partnerships with mobile operators and cloud vendors have also extended FeedHenry’s international reach. The Company believes that the current mobile enterprise market segment combined with FeedHenry’s scalable technology platform and flexible engagement model, positions it well to grow the business.

About Intel Capital

Intel Capital, Intel's global investment and M&A 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, mobility, health, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$10.8 billion in over 1,276 companies in 54 countries. In that timeframe, 201 portfolio companies have gone public on various exchanges around the world and 317 were acquired or participated in a merger. In 2012, Intel Capital invested US$352 million in 150 investments with approximately 57 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com or follow @Intelcapital.

About FeedHenry

FeedHenry provides next generation, cloud-based mobile enterprise application solutions that simplify the development, deployment and management of mobile apps for enterprise. The FeedHenry platform enables development of native, hybrid and HTML5 apps that securely connect to multiple backend systems and supports deployment of server-side code to private, public or hybrid cloud environments. The solution offers IT departments the ability to create, control, measure, adapt and future-proof their mobile business strategies for employees, partners and customers in one place, increasing productivity, connectivity and engagement. Visit www.feedhenry.com and follow @FeedHenry.

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