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May - 2014 - issue > VC Chakra
Fonemine to Cruise with $4.5 Million in Series B Funding
SI Team
Thursday, May 1, 2014
Jagadish Bandhole founded Fonemine, a provider of Cloud-based Enterprise Mobile Application Solutions, has secured $4.5 million Series B round of financing led by Michigan eLab. This increases the total funding to $11.3 million till now. The latest financing will be used to execute accelerated growth strategy that will include the expansion of the company’s sales, business development and marketing efforts, and extending the capabilities of Fonemine’s flagship product MobileForce to address the evolving customer requirements.

Sunnyvale, CA based Fonemine’s MobileForce solution enables Enterprise sales, service, channel partners and end-customers to access key enterprise data through unified mobile apps that run on iOS, Android, Blackberry and HTML5 platforms. Its native apps are cloud-driven, secure and role-based with touch-optimized UI, rich interactions and device personalization enabling their users to find the right information at the right time from anywhere.

Driven by escalating demand for a comprehensive, scalable and secure mobility solution that could rapidly and cost-effectively connect to enterprise systems, the number of Fonemine clients has increased significantly in the last year. Enterprises are adopting Fonemine’s cloud-based MobileForce technology to make critical business information available to the mobile workforce anywhere, anytime and across any device. Multiple Fortune 500 companies in diverse industries have successfully deployed Fonemine’s MobileForce solutions to increase productivity of their sales and service teams, drive operational efficiencies and lower costs. Most recently, Fonemine added Cisco, Fujitsu, Brocade, Estes, VCE and Hillwood to its client roster, joining many other notable F500 enterprises.

Witnessing a momentum in the customer base, the company will expand its leadership by adding Mark Bloom as Sr. Director of Product Marketing and Management, and Industry veteran Joseph Coglitore who has been appointed to the position of VP of North America Sales where he will be responsible for creating and implementing strategies to drive sales and market share. "Joe and Mark both bring strong leadership and a wealth of enterprise experience to their new roles at Fonemine, they will help in guiding company’s efforts to grow and mature over the years ahead," says Jagadish Bandhole, CEO, Fonemine.
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