Averail to use $6 million funding to tap enterprise segment with MCM solution

Telecom Lead America: Averail, an enterprise mobile
software company, announced the completion of its $6 million Series A funding
led by Foundation Capital and Storm Ventures.


The company is developing a mobile content management
(MCM) solution to tap enterprises business segment. Furthermore, it expects to
introduce its first offering in the second half of 2012.


The company has appointed Paul Holland, general partner
at Foundation Capital, and Tae Hea Nahm, managing director at Storm Ventures,
to the Board of Directors of Averail.

Founded in 2011 by mobile industry veterans John Drewry
and Rahul Sharma, Averail’s initial round of funding will focus on advancing
product development and expanding the organization.


We are privileged to have strong partnerships with top
venture capitalists that have domain expertise in enterprise software and
mobility solutions, and who support our mission to provide enterprise customers
with a unique solution that liberates content currently locked away inside
organizations,” said John Drewry, co-founder of Averail.


According to market research firm IDC, 70 percent of all
smartphones are used for business purposes, and mobile tablet usage among
businesspeople is also growing rapidly. Both trends are driving employee demand
for access to more business information on mobile devices.


Averail is a Storm incubated company pursuing a massive
opportunity. This is a stellar team with a unique approach to solving a real
business problem. We look forward to working closely with them to deliver a
powerful and winning solution,” said Tae Hea Nahm at Storm Ventures, who
previously incubated Airespace and MobileIron.


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