We're thrilled to work with Merus Capital and WTI and we'll use this round of funding to accelerate the growth of Corona Labs worldwide and expand our team.
Palo Alto, CA (PRWEB) November 13, 2012
Corona Labs, the leader in mobile app development, today announces $2 million in new venture funding from existing investor, Merus Capital, and new investor Western Technology Investment (WTI). With the new capital, Corona Labs plans to fuel the growth of Corona SDK, the leading mobile development framework, and grow its core team of world-class engineers and mobile experts.
Corona Labs’ flagship product, the popular Corona SDK, is an award-winning mobile framework used by more than 150,000 developers worldwide. The development platform empowers creative professionals to build rich, interactive mobile content ten times faster than the alternatives. To date, over 20,000 high quality games, business apps, and eBooks have been built with Corona SDK and published for iOS, Android, NOOK, and Kindle Fire devices.
In August 2012, Corona Labs released Corona Enterprise, enabling developers to add even more functionality to their mobile apps. In just a few short months, thousands of indie developers and global studios have embraced Corona Enterprise including Mobicle, a top 3 game studio in Korea, and flaregames, a leading German studio.
“We’ve experienced tremendous growth since our initial Series A funding in 2009. Corona developers span the globe and build truly incredible mobile content each day," says Walter Luh, CEO of Corona Labs. “We're thrilled to work with Merus Capital and WTI and we'll use this round of funding to accelerate the growth of Corona Labs worldwide and expand our team."
“Since our initial investment in Corona Labs, we’ve witnessed the company grow from its inception, becoming a leader in the mobile industry,” says Salman Ullah, Co-Founder of Merus Capital. “We’re excited to further help the company achieve its mission of making mobile development easier than ever, and are proud of Corona’s simply amazing team."
ABOUT CORONA LABS
Corona Labs Inc. (http://www.coronalabs.com) is a venture-backed mobile software company based in Palo Alto, CA. Corona Labs’ flagship product, the award-winning Corona SDK, democratizes app development by empowering developers, from independents to large studios, to create cross-platform applications, games and eBooks for iOS™, Android™, Kindle Fire®, and NOOK™. Boasting a community of over 150,000 developers worldwide, apps created with Corona have had over 1,000,000,000 sessions in the last 10 months alone.
ABOUT MERUS CAPITAL
Merus Capital is a Palo Alto-based venture capital firm founded by three senior executives from Google and Microsoft. The firm invests in seed and series A startups based in Silicon Valley with a specific focus on Cloud, Commerce and Mobile. Investments include AdRoll, Authentic8, Runa, ModeWalk, IO Turbine (acquired by Fusion-io) and Chai Labs (acquired by Facebook). For more information, please visit http://www.meruscap.com.
ABOUT WESTERN TECHNOLOGY INVESTMENT
Western Technology Investment (WTI) is a Silicon Valley based venture debt firm that invests globally in a wide range of technology and life science companies ranging from seed-stage start-ups to publicly-held companies. Over more than 30 years, WTI has provided in excess of $3 billion of growth capital to exceptional teams building market leading companies, including Facebook, Google, 3PAR, Ablation Frontiers, Brocade Communications, Cerent, IDEC Pharmaceuticals, InvenSense, IronPort Systems, Juniper Networks, Neutral Tandem, Postini, and Youku.com. For more information, please visit http://www.westerntech.com.