Stealthy Startup Averail Pumps $6 Million In Series A Round Of Funding


California: Menlo Park based Averail, which develops mobile content management technology, has raised $6 million in series A round of funding led by Foundation Capital and Storm Ventures. As a part of the deal, Paul Holland, General Partner at Foundation Capital, and Tae Hea Nahm, Managing Director at Storm Ventures, to the Board of Directors of Averail. The initial round of funding will focus on advancing product development and expanding the organisaton.

Founded in 2011 by mobile industry veterans Rahul Sharma and John Drewy, Averail is an early-stage, enterprise mobile software company developing a mobile content management solutions for smartphones and tablets.

“Smartphones and tablets are increasingly sweeping into businesses and fueling the consumerization of IT. yet access remains limited, and many employees still struggle with daily tasks that require collaboration across an organization. We are privileged to have strong partnerships with top VCs that have domain expertise in enterprise software and mobility solutions, and who support our mission to provide enterprise customers with a unique solution that liberates content currently locked away inside organizations,” said John Drewry, Co-Founder, Averail.

Drewry previously held positions at Motorola and 3Com, and co-founded mobile internet started that later got acquired by Cisco in 2006.

Rahul Sharma leads engineering and technology at the company. He brings more than 20 years of experience building successful teams and leading development engineering from Microsoft, Motorola and Sun Microsystems. Sharma holds a BE degree in Computer Engineering from Delhi University and an MBA from the Haas School of Business at UC Berkeley. He has 18 U.S. patents issued and 6 pending in areas of distributed systems, mobile and enterprise technologies.

Tae Hea Nahm, Storm Ventures, said, “Averail is a Storm incubated company pursuing a massive opportunity. This is a stellar team with a unique approach to solving a real business problem. We look forward to working closely with them to deliver a powerful and winning solution.”

According to market research firm IDC, 70 percent of all smartphones are used for business purposes, and mobile tablet usage among businesspeople is also growing rapidly.

“Averail is addressing an urgent need, as more and more organizations adopt BYOD policies for their employees. Managing sensitive or confidential documents on mobile devices requires a fundamentally different approach from what has been deployed on PCs,” said Paul Holland at Foundation Capital.