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Appcelerator Secures $4.1 Million in Series A Venture Funding

Growth of rich Internet applications drives new investment in technology to build and manage browser, desktop and mobile applications

MOUNTAIN VIEW, Calif., Dec. 9 /PRNewswire/ -- Appcelerator, Inc., a leading provider of open source technologies for building and managing rich Web applications, today announced it has secured $4.1 million in Series A funding, led by Storm Ventures. Appcelerator will use the proceeds to further advance and extend the functionality of its Open Web platform that allows applications to be quickly and easily built and deployed as a rich Web application, a native desktop application or a mobile application.

"Web applications are quickly evolving to rival the functionality users are accustomed to from desktop applications being produced by the world's largest software companies," said Ryan Floyd, managing partner at Storm Ventures. "With Appcelerator's Open Web platform, we anticipate they will become a major provider of software development technologies used to build web, desktop and mobile applications."

Using Appcelerator's SDK and Titanium, developers can reduce costs and realize dramatic productivity gains by leveraging an Open Web platform and an existing set of web skill sets, ultimately allowing developers to spend more time developing applications and getting them to market and less time building homegrown development platforms. Appcelerator's products are freely distributed under the Apache Public License, enabling the platform to be easily extended through a wide range of plug-ins.

"We plan to use the investment to extend the Appcelerator SDK and Titanium platform to include the widest set of functionalities and be the most easily used rich Web application development products available to application developers," said Jeff Haynie, Appcelerator CEO.

Storm Venture managing partner, Ryan Floyd, will join Appcelerator co-founders Jeff Haynie and Nolan Wright on the Board of Directors. Larry Augustin, a premier open source angel investor and a member of the group who originally coined the term "open source" and also participated in the round, will join the board as well.

"By combining the strength of their open source community with the ingenuity of their Open Web technology, Appcelerator is primed to truly become the most widely deployed and used application development platform," said Larry Augustin, open source luminary.

For more information and to download the recently released Titanium, please visit: http://titaniumapp.com/. For the latest information on Appcelerator, please visit the blog: http://www.appcelerant.com/ or follow Appcelerator on Twitter: http://twitter.com/appcelerator.

About Appcelerator

Headquartered in Mountain View, California, Appcelerator, Inc., develops and supports the leading Open Web platform for creating, packaging and deploying rich Web applications. Financially backed by leading Silicon Valley investor Storm Ventures and open source luminary Larry Augustin, Appcelerator's products allow developers to quickly and easily build applications using standard Web technologies that can be deployed to multiple platforms, including the desktop, the browser or the mobile device. For more information, please visit: http://appcelerator.org/.

    Contact
    Page One PR for Appcelerator
    Shelly Milam
    [email protected]
    Phone: 415.875.7491

SOURCE Appcelerator, Inc.

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