KidoZen, a private enterprise mobile platform company, has raised $5 million in Series A financing from Third Point Ventures, the companies announced Thursday.
KidoZen gives large companies the back-end structure they need to develop and manage enterprise mobile applications, while accelerating the time to market and providing security compliance. “Our mission is to provide organizations with the infrastructure needed to build a mobile-first enterprise,” said Jesus Rodriguez, KidoZen’s CEO.
The young South Florida company quietly entered a private beta earlier this year, and by the time it opened to the public in May, it had already acquired paying customers and signed key strategic alliances with professional services and enterprise software vendors. “KidoZen has seen notable success and recognition by some of the top analyst firms in its first year,” said Jason Port, a Miami-based angel investor and a member of the KidoZen board.
Today, the company serves nearly 70 of the world's largest companies and has formed a number of partnerships. More than 400 apps have been built on the platform so far. Customers include Fort Lauderdale-based Citrix, Tyco, Jetblue, Redhat and other enterprises. KidoZen will come close to $5 million in revenue in its first year of operations and is profitable, said Rodriguez.
“Mobility is becoming an integral part of the evolving enterprise and this space is changing rapidly. The dynamic team, their innovative PaaS (Platform as a Service) model, and KidoZen’s continued success and growth, were significant factors in our decision to invest,” Robert Schwartz, managing partner at Third Point Ventures, said in a statement.
KidoZen -- the name comes from a Korean word for peace combined with zen -- will use this funding to build out its South Florida-based sales and business development teams and add to its product development team. “We’re going after a massive market, a few hundred billion dollar market, rapidly approaching a trillion,” said Rodriguez.
The company is based in Boca Raton but moving to Miami and is looking for office space now. “We’re very committed to growing in Miami. We really want to bring jobs to the city and have a big success in the technology space,” said Rodriguez, who is a mentor at the Venture Hive accelerator.
"Jesus's success is not just tied to his building an incredible company, but to his commitment to building and supporting many more entrepreneurs and startups in the community," said Susan Amat, Venture Hive founder.