Mobify Secures Financing to Accelerate Lead in Progressive Web Apps for Mobile Commerce
MARKETWIRED, VANCOUVER, BC (SEP 21, 2017) – The #1 provider of Progressive Web Apps for commerce has secured funding to expand lead in creating fast, engaging experiences as shopping transitions to mobile
Mobify, the Canadian company that is revolutionizing retail with app-like, immersive user experiences and fast purchases on the mobile web, has received funding from three new institutions, including Vancouver-based Vistara Capital Partners; Impulse International, a subsidiary of Kuwait Investment Authority; Dallas-based Comerica Bank, and technology industry investors. The follow-on financing builds on previously announced recent investments from Acton Capital, BDC Capital and Plaza Ventures, for a total of $15 million.
Mobify has become a key player in powering high-converting ecommerce websites with innovative mobile technology just as mobile revenue has shifted to exceed desktop. Mobify customers are among ecommerce’s most innovative: Lancôme, the world’s leading luxury beauty brand, was the Mobile Commerce winner in the 2017 Internet Retailer Excellence Awards for its Progressive Web App (PWA) created by Mobify. The funding will be used to further expand Mobify’s key partnerships and accelerate innovation of PWAs and other solutions to improve the customer experience, increase engagement and likelihood of a purchase.
According to Mohammad Alhajeri, Chief Investment Officer at Impulse International, “Mobify’s products are truly amazing and are making an outstanding contribution to online commerce in two important ways. First, it provides a high-value shopping experience that serves customers more effectively and helps retailers and brands grow revenue. Second, it contributes to a major technology shift to the mobile web as the platform with the widest reach in today’s globally connected environment. We are pleased to support Mobify’s growth in the GCC region as it goes through rapid ecommerce expansion.”
Added Noah Shipman, Vice President at Vistara Capital Partners, “Every brand and every retailer needs to focus on improving the online shopping experience in order to survive in today’s world. With mobile being the undisputed prime point of customer interaction, Mobify has been out in front in solving this enormous problem of converting mobile-first consumers into revenue. With Progressive Web Apps now fundamentally altering how websites are being built, Mobify, through its growing network of partners, is rapidly becoming a platform of choice as evidenced by its impressive global customer base. We’re thrilled to be part of their continued success and expansion.”
PWAs run inside a web browser, offering a modern web experience that is purpose-built for fast browsing on smartphones and reachable via the more than 5 billion connected devices worldwide.
According to Gartner, “By 2020, progressive web apps will have replaced 50% of general-purpose, consumer-facing mobile apps…
“Progressive web apps aim to disrupt the mobile app paradigm by bridging the web experience with native app functionality. Application leaders responsible for mobile app strategies must determine when — not if — they need to factor in PWAs as part of their overall mobile development strategy.”1
“It’s been amazingly exciting to watch our customers drive mobile revenue using the Mobify approach to creating engaging Progressive Web experiences,” said Mobify’s Faletski. “While we have a significant advantage in being able to create award-winning mobile solutions that shine today, we want to bring even more innovations to market that enhance the shopping experience by leveraging mobile. This new funding will allow us to further our mission to power experiences that shoppers love, companies need, and we can be proud of.”
Mobify is the #1 provider of Progressive Web Apps for ecommerce for retailers and brands that want to close the gap between desktop and mobile conversion rates, keep up with customer expectations and win loyal customer relationships. The Mobify Platform delivers a unified customer experience across mobile web and apps, while building customer relationships through push notifications and store drivers. Leading global brands including Lancôme (Mobile Commerce winner 2017 Internet Retailer Excellence Awards), Crabtree & Evelyn, Paula’s Choice, Carnival Cruise Line, London Drugs, Burlington, PureFormulas, Superdry, Columbia, eXtra Electronics, and ThinkGeek generate extensive revenue through the Mobify Platform and rely on Mobify to grow their customer lifetime value. www.mobify.com
Mobify® is a registered trademark of Mobify. All other trademarks are the property of their respective owners.
1 Gartner, Progressive Web Apps Will Impact Your Mobile App Strategy, Published: 23 March 2017, Jason Wong