Red E App Raises $750K, Closes Oversubscribed Funding Round
LOUISVILLE, Ky., March 21, 2013 /PRNewswire/ -- Red e App, a groundbreaking, real-time mobile messaging platform for non-desk bound employees, recently completed a successful Series A funding round that was led by Yearling Fund II, which focuses on promising Kentucky-based startups. Red e App, which is quickly attracting new customers with the first secure, private mobile messaging platform for enterprises, will use the capital infusion to continue to scale operations.
The convergence of a number of workplace trends positions the Red e App platform for rapid growth: Enterprises require new solutions to meet evolving mobile communication needs, including ways to communicate securely across a private mobile network, manage the BYOD ("bring your own device") trend, connect with multiple user lists, delegate notifications abilities beyond group SMS applications and generate real-time analytics and custom reports.
Red e App is focused on creating value for customers that have thousands of field-based, non-desk bound employees, including those in the healthcare, retail, restaurant and manufacturing sectors as well as member associations. The company will use the funding from its oversubscribed Series A round to boost product development efforts, expand sales and marketing initiatives, cultivate analyst relationships, and continue to offer unparalleled customer support with its highly responsive team.
"We're incredibly excited to close our Series A funding round oversubscribed," said Jonathan Erwin, Red e App founder and CEO. "It's a tangible validation of our strategy and business model, and the confidence investors are placing in our venture is directly attributable to the unique space we occupy in enterprise mobile communications. By giving companies a secure method to push out internal communications and enable employee collaboration, we offer an entirely new way to connect and engage."Support from the Yearling Fund II, which has a reputation for recognizing capable companies at the early stages and beyond, is just the latest validation for Red e App. The company was named a 2012 Hot Dozen company by Greater Louisville Inc.'s EnterpriseCorp in recognition of its entrepreneurial spirit and high growth potential.
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