AppForge Raises $8.3M

ATLANTA -- Atlanta-based AppForge, Inc., provider of products and services for the mobile and wireless industry, has closed an $8.3 million Series B round of financing.AppForge's line of products and services enable businesses to quickly develop, market and distribute cross-platform mobile and wireless applications. AppForge maintains extensive relationships with major device manufacturers, leading system integrators, and key technology vendors to ensure that AppForge is providing the best solutions for its customers.This new investment will enable AppForge to enhance the MobileVB product line, introduce support for Microsoft's .NET platform and other languages, and add support for the growing number of mobile and wireless devices and operating systems. The funds will also aid in the expansion of sales, marketing, and business development efforts domestically and internationally."We are very pleased with the investment and value the experience and knowledge that our new investors bring to AppForge," said Doug Armstrong, President and CEO of AppForge. "We will continue to work closely with carriers, device manufacturers, and developers to provide the best products and services for the mobile and wireless industry."AppForge's success in the mobile and wireless industry has not been missed by the investment community, as exemplified by the caliber of investors participating in this round of funding. Leading the Series B round is The Grosvenor Funds. Other new investors include Council Ventures, The Warren Group, and Tim Draper, a Managing Director of Draper Fisher Jurvetson. Series A investors who are participating in the Series B round include Draper Atlantic, C&B Capital, and Sinclair Ventures."We have been following AppForge for some time now," said Bowdoin Train, managing partner at Grosvenor Funds. "In an industry that has gone through tremendous turmoil over the last few years, AppForge has managed to grow its core business, add new revenue sources, and develop new strategic partnerships. We are looking forward to working with them.""The Appforge product set offers much-needed solutions to wireless application developers, manufacturers of smart phones and PDAs, wireless carriers and consumers alike," said John Backus, a managing director at Draper Atlantic. "Their success in satisfying these very different and demanding customers led to an oversubscribed round of financing with which we are quite pleased."AppForge Inc.