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STARTUP: mFoundry, based in Sausalito
ELEVATOR PITCH: mFoundry helps businesses mobilize, and targets a variety of verticals, including mobile advertising, mobile banking, and mobile services for the enterprise.
WHAT THEY DO: mFoundry provides companies with software that they use to create, deploy and manage mobile applications.
PEOPLE: CEO Drew Sievers, formerly President of Semaphore Partners-the Publicis network’s interactive offering.
FUNDING: Under $10 million, though the company won’t give an exact amount. Recently the company raised a series B round of $7.3 million, and investors include Apax Partners, GRP Partners, and Ignition Partners.
KEY CUSTOMERS: Citibank, Nestle, Sprint, NBA, Toyota/Lexus, Verizon, Photobucket
THE DEAL: mFoundry seems like it has more than enough projects in its pipeline. The company will release an upgraded version of its service — version 2.0 — that uses an AJAX framework, along with other enhancements, in the first quarter of 2007. In a few weeks the start-up is helping Sprint launch an ad-supported news stand application, which is based on mobile RSS feeds. And the company is working on a wireless application for photo-sharing site Photobucket that will enable users to wirelessly share and modify photos. (mFoundry CEO Drew Sievers confirmed this recently, which we wrote about in July).
Guess they’ve been busy. But helping companies mobilize is also an oft-targeted market, so the company will have to fight for more big name customers.