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rollApp Announces $1M Round of Series A Funding, Led by LETA Capital With TMT Investments Participating

rollApp Inc. is a Silicon Valley-based startup chartered to create an online service that will allow users to instantly run any existing unmodified software on any Internet-connected device, e.g. Windows programs on iPad or iPhone apps on Android devices. Currently the company offers a free beta version of this technology that allows users to work with Windows and Linux applications on iPad, Chrome OS devices and all the popular desktop operating systems (Windows, MacOS, Linux). While in beta, the service attracted tremendous interest from users: during the last 8 months the company has experienced over 50-fold traffic growth. The company's Advisory Board includes legendary industry veterans such as Vivek Wadhwa (VP at Singularity University) and Bjarne Stroustrup (the author of C++ programming language).

July 1 rollApp has announced the $1M Series A funding, led by LETA Capital. TMT Investments, which made a seed investment into the company in 2011, is also participating in this round. rollApp plans to use Round A funding to transit out of beta stage of development to widespread adoption, add support to more devices/platforms, and start monetizing the service.

"Technology developed by rollApp eliminates the need to re-work existing software products every time when a new platform enters the market," said Vlad Pavlov, rollApp founder and CEO. "There is no need to change existing apps to make it possible to use them on new devices. And there is no need to develop new software to work with existing files from the new devices. We have published a critical mass of apps on our platform, so our customers can use rollApp to view and edit virtually any file: documents, spreadsheets, pictures, e-books, archives, mind-maps, etc. In one click, inside a browser, from almost any device, with no downloads/installs."

"We are confident in the success of the rollApp story," said Alexander Chachava, Managing Partner of LETA Capital, who will be joining the rollApp Board of Directors. "rollApp has a very ambitious management team. They were lucky enough to attract some of the best experts on the planet to join the rollApp crew. The company has a very precise and clear strategy. Most importantly, rollApp solves the problem of working with different platforms. A user must always have an option of working with any program or document regardless of the device being used. rollApp seamlessly resolves this issue." 

2013-07-04, Marketwired.


Keywords: startups, services, TMT Investments, funding

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