Tandem Capital closes $32 Million in Second round of Funding
Date: Sunday , July 01, 2012
Silicon Valley's mobile-exclusive accelerator, Tandem Capital, has closed their second fund with a pivotal intention in focusing on mobile startups. The deal was closed for $32 million and the capital hails from a number of notable investors like Doug Bergeron, the CEO of Verifone; Dan Cooperman, former general counsel of Apple; Ram Shriram, a founding board member at Google; Playdom founder Rick Thompson; Dan Warmenhoven, the chairman of NetApp; and several others.
Founded in 2007 by tech veterans Sunil Bhargava and Doug Renert, Tandem provides early-stage mobile companies with $200,000 in funding, along with workspace and mentoring, and advisors in areas like business development, product design, marketing, user acquisition, and many more.
Tandem Capital has various established client profile that have joined hands with them for global recognition. The clients include ING, Oyster, Neuflize, Janus, UBS and Merill Lynch. The company’s acquisition highlights include ZumoDrive (now MotoCast), a cloud-based media storage and syncing service acquired by Motorola in 2010, and Attassa, a pioneer in mobile collaboration, acquired by YouSendIt in 2011 to form the core of their mobile offering.
"Tandem's accelerator program is highly selective and focuses on only a small group of truly exceptional teams. This way, we can give founders what they need most: time and attention from our team and our entire network. Think of our accelerator like a small liberal arts college where you get to know your professors, as opposed to the large public university where you're taking each course along with 300 other students," says Sunil Bhargava, Co-founder, Tandem Capital.
Currently the four startups in the gaming and apps classes such as Bit maps, Bit Rhymes and other casino games for women are brewing to success which will lead to the future of a new games and apps store.