Sourcebits gets $10 million VC funding from Sequoia, IDG Ventures
Wednesday, 11th May 2011
Sequoia Capital and IDG Ventures India today said they will invest USD 5 million each in Sourcebits, a leading developer of consumer and enterprise mobile applications.
The investment will help Sourcebits expand its footprint globally and locally. The funds will be utilised to set up engineering and sales centres in the United States as well as augmenting a design engineering team in India and Europe, a release said here.
Sourcebits is the leading third-party developer of innovative applications for mobile devices, with 300 engineers and designers working on a strong global client portfolio.
"The company has developed over 300 apps, 20 of which are in the top 100 in leading app stores. We are happy to partner with the team at Sourcebits," Sequoia Capital Managing Director Shailendra Singh said.
Publication : Deccan Herald
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