Mobiquity raises $12M Series B from NewSpring Growth

Mobiquity is a professional services firm that helps businesses develop mobile solutions

(Updated to reflect comment from Mobiquity)

The world is going mobile, and it is going there quickly. Frankly, though, most businesses do not have the slightest clue how to capitalize on that. They don't know what works, what doesn't or how to make an appealing app.

That is where Mobiquity comes in. It helps these business creates enterprise-class apps that drive business value. And now the company has announced it has secured $12 million in a Series B round of financing.

The round was led by NewSpring Growth, the technology and business services growth equity fund of NewSpring Capital. Existing investors Sigma Partners and Longworth Venture Partners also participated in the round. This latest financing brings Mobiquity’s total amount raised to date to $17 million.

The company says that it will use the money to expand geographically, as it continues to invest in its product portfolio in two ways:

"For each client engagement we leverage our resources to create components that we bring to the table. As our experience grows, we see repeatability with many of these components. To streamline our process, we plan to productize many of these offerings so they become accelerators for our client projects," Bill Seibel, Founder, Chairman & CEO of Mobiquity told me in an interview. 

"By acquisition as with our recent Velocity Solutions acquisition. If we discover a product that fits well into our roadmap and can benefit from our branding and backing, it could make sense for us to bring it into our portfolio."

Founded by Seibel and Dr. Scott Snyder, Mobiquity is a professional services firm, which works with the Global 2000 companies in order to help them create enterprise-class mobile solutions, and apps that will assist them with driving business value. 

The Wellesley, Massachusetts-based firm focuses on architecting, developing and deploying custom mobile solutions in order to help enterprise companies mobilize their workforce, build their brands and engage their customers.

The company offers a wide variety of services for its clients including mobile business strategy, experience design for mobile devices, mobile technology development and deployment, data and analytics, and mobile security services. 

Despite competition from digital agencies, systems integrators and consulting organizations, what separates Mobiquity is the fact that they offer a complete solution.

"They are typically not built from the ground up to create enterprise-class mobile solutions that combine strategy, user-centered design and backend integration and often need to outsource one or all of these critical disciplines," said Seibel.

Since the company was founded in April of 2011, it has worked with over 140 companies, including CVS, Fidelity Investments, MetLife, the New York Post, Putnam Investments, The Boston Globe and Weight Watchers International.

In April, Mobiquity purchased Cambridge, Massachusetts-based mobile development shop, KMDM for an undisclosed amount of money. Mobiquity chose to roll-in KMDM to its business based on the company's proven expertise in developing mobile applications for companies in industries including financial services, healthcare, retail, and travel and leisure.

The company had also previously purchased Cronk Software in May of 2011.

Find out more about how Mobiquity works in the video below: