IMIMobile raises USD $13 mn for funding expansion

IMImobile has raised USD 13 million in a financing round led by Sequoia Capital and existing investor First Mark Capital. The funding will enable IMImobile to embark on its next phase of growth building on the impressive gains the company has made over the last few years. Mohit Bhatnagar, Managing Director, Sequoia Capital India will join the Board of IMImobile. Vishwanath Alluri, Founder and CEO of IMImobile said: “The new financing will enable us to develop our cloud infrastructure for Tier 1 telecom operators and allow us to expand our customer base and account penetration through acquisitions. Sequoia Capital's global experience and strong local expertise will be a key differentiator as we look to launch into our next phase of growth”.