Flybits announces second closing of $4.75M Series A financing

Vodafone expands Toronto-based company’s global partners to advance mobile platform offerings

Flybits Corporate LogoTORONTO, April 28, 2015 – Vodafone, one of the world’s largest global mobile carriers, has led a second closing of Flybits’ Series A round through Vodafone Ventures. The announcement builds on Flybits’ previously announced Series A financing in August 2014, which was led by Robert Bosch Venture Capital and Trellis Capital.

This announcement was covered in the Financial Post, TechVibes, PE HUB and BetaKit.

As an innovative software-as-a-service (SaaS) company, Flybits enables consumer-focused enterprises to expand and manage mobile experiences that deliver targeted content and services. Its platform enhances mobile services to deliver a better customer experience, drive sales and capture analytical insight to establish a competitive advantage. The Flybits solution is easy to deploy, user-friendly and scalable.

“We’ve enjoyed an excellent partnership with Vodafone since beginning an incubation project with them almost two years ago,” said Dr. Hossein Rahnama, founder and chief product officer of Flybits. “They helped us make our product carrier-grade, and this investment will allow us to leverage their presence in more than 21 countries. With the support of our strategic investors, Bosch and Vodafone, our plan is to become the leading platform for companies to develop and deliver intelligent and context-aware mobility solutions.”

“I congratulate Flybits on today’s announcement,” said the Honourable Ed Fast, Minister of International Trade. “Flybits has used many of the services our government offers to help Canadian businesses succeed abroad including the Canadian Technology Accelerators (CTA). Through our network of Trade Commissioners and various programs, this government is committed to helping companies such as Flybits grow beyond our borders to expand globally, creating jobs and economic prosperity across Canada.”

Flybits has attracted customers in retail, transportation, banking and event management both in North America and Europe. The company enables its customers to create contextual experiences that go beyond traditional apps. While Flybits is focused on mobile today, the company’s vision extends as far as wearables, smart devices, embedded technology and emerging Internet of Everything trends.

“Flybits enables the enterprise to build and deploy a new class of mobile apps that deliver highly-personalized experiences to consumers, in an intuitive and easy way with minimal dependence on IT departments,” said Sunil Selby, managing partner at Trellis Capital and member of the Flybits board of directors. “The company’s focus on delivering an easy-to-use, intuitive user experience, combined with its advanced R&D capability, has helped Flybits to quickly advance its offerings across a number of strategic verticals, such as retail, the financial sector, connected cities and corporate campuses.”

About Flybits

Leaders in markets as varied as retail banking, shopping malls, sports stadiums, smart campuses, and public transit systems use Flybits to increase revenues, enhance brand loyalty, and delight their customers. Our enterprise customers achieve this by using the unique Flybits Context-as-a-Service platform to create and deliver context-aware mobile applications, and to adapt and change them in real time. Flybits enables the creation of highly-personalized mobile experiences that go beyond what is practical with traditional app development platforms and simple location-based services. Flybits supports the iOS and Android devices of today and scales easily to handle the data sources of the emerging Internet-of-Things.