Exclusive - Appcelerator, the US company behind popular cross-platform iOS, Android and Web app development solution Titanium, has received an extra capital injection to the tune of $3 million, The Next Web has learned.
The company recently raised $16 million in Series C funding, but has expanded the financing round with an extra $3 million provided by Presidio Ventures, the early-stage investment vehicle owned by Sumitomo Corporation, a Japanese conglomerate with a history that goes back almost 100 years.
On its website, Presidio Ventures says it has invested in over 100 US startups for a total investment amount of $200 million since its inception in 1998.
Other Appcelerator backers include eBay and Red Hat, and VC firms like Mayfield Fund, Sierra Ventures and Storm Ventures.
Appcelerator co-founder and CEO Jeff Haynie confirmed the additional financing and provided us with the following statement to clarify the move:
This was an opportunistic add-on to the last round of funding from Presidio Ventures, which is the venture arm of Sumitomo Corporation. Â This funding was received to help further our expansion in Asia. The brings most recent round of funding to $34 million, with a total of $50.5 million dollars.
To be clear, APJ stands for Asia Pacific Japan.
In a nutshell, Appceleratorâ€™s flagship Titanium solution allows developers to create native, cross-platform mobile and HTML5 Web apps from a single codebase.