July Systems Scoops In $15 Million From Updata Partners

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Rajesh T.S. Reddy, Founder & CEO, July Systems

California: California based cloud based mobile application platform provider July Systems has secured $15 million in growth equity investment from Updata Partners. The round also saw the participation of Intel Capital and WestBridge Capital. The funds would be used to accelerate the product roadmap, boost the sales momentum, and increase the market reach. Previously the company had secured $7 million in its series C round led by Intel Capital, Sequoia Capital, and Footprint Ventures.

According to Rajesh T.S. Reddy, Founder & CEO, July Systems, in order to lead the mobile market one needs to grow and innovate in various dimensions so that the platform is easy to build and manage the cross-platform mobile applications. The company plans to use the funds to increase the market awareness at a global level.

The company was founded in 2001 by Rajesh Reddy and has offices in Los Angeles, New York, Bangalore, and Atlanta. It enables businesses to build, run, and manage their mobile services across various devices. Its cloud based platform lets businesses leverage mobility and create high impact experiences. Its Mi Platform enables businesses to create and innovate on delivering a dynamic consumer experience. Prior to founding July Systems, Reddy had founded Gray Cell Technologies, which evolved into Unimobile.

Updata Partners is a technology focused growth equity firm with over $500 million under management. It invests in high-growth software, internet, and technology enabled services companies with innovative intellectual property and market-leading solutions. Few of its portfolio companies include Acclaris, DataCore Software, M85 Security, OrderMotion, Numura, RedVision Systems, and Pulsepoint among others.

Intel Capital makes equity investments in innovative technology startups and companies worldwide. Since 1991, the firm has invested in over 1212 companies, of which 194 have gone public, and 289 were acquired or participated in mergers. Few of its portfolio investments include Clearwire, Rediff.com, Red Hat, Marvell Technology Group, WebMD, Research in Motion, Inktomi Corporation, Broadcom Corporation, and Bellrock Media, among the others.

WestBridge Capital focuses on partnering for the long term and manages over $800 million across multiple funds. Its typical equity investments range between $10 million to $50 million it has offices in Mauritius, California, and Bangalore. Few of its portfolio companies include Cognizant Technologies, JustDial, Applabs, Coffee Day, Indecomm, QuickHeal, Tutorvista, Stovekraft, and Naukri among the others.