Vistara Capital Partners (“Vistara”) is pleased to announce its participation in the $15 million growth capital financing of Mobify, the leading provider of Progressive Web Apps (“PWAs”) and other complementary technologies for digital commerce. The funding will be used to further expand Mobify’s key partnerships and accelerate innovation of PWAs and other mobile-first solutions to improve customer experience, engagement and conversion.
Mobify has become a key player in powering ecommerce websites just as mobile revenue has shifted to exceed desktop. “It’s been amazingly exciting to watch our customers drive mobile revenue using the Mobify approach to creating engaging Progressive Web experiences,” said Mobify’s CEO Igor Faletski. “While we have a significant advantage in being able to create award-winning mobile solutions that shine today, we want to bring even more innovations to market that enhance the shopping experience by leveraging mobile. This new funding will allow us to further our mission to power experiences that shoppers love, companies need, and we can be proud of.”
The growth financing included Impulse International, Comerica Bank, and builds on previously announced recent investments from Acton Capital, BDC Capital and Plaza Ventures.
“Every brand and every retailer needs to focus on improving the online shopping experience in order to survive in today’s world. With mobile being the undisputed prime point of customer interaction, Mobify has been out in front in solving this enormous problem of converting mobile-first consumers into revenue” said Noah Shipman, Vice President at Vistara Capital Partners. “With Progressive Web Apps now fundamentally altering how websites are being built, Mobify, through its growing network of partners, is rapidly becoming a platform of choice as evidenced by its impressive global customer base. We’re thrilled to be part of their continued success and expansion.”
For further details, please visit mobify.com
About Vistara Capital Partners
Vistara Capital Partners provides highly flexible debt and equity financing solutions to growth stage technology companies across North America. Vistara’s typical investment size ranges from $3 million to $10 million per portfolio company. Managed and funded by seasoned technology finance and operating executives, “Vistara” (sanskrit for “Expansion”) is focused on enabling the growth and expansion of companies it partners with through its funds under management. For more information, please visit vistaragrowth.com