MobStac Raises $2 Million In Series B To Help Brands Leverage Mobile Commerce
Summary
MobStac, a Bangalore-based startup that helps publishers build and manage their mobile websites and apps, has raised $2 million in Series B funding from Accel Partners and Cisco. For its existing mobile content platform, the startup counts some of the top Indian media houses, including The Hindu and Times Internet, among its customers. Potharaju started MobStac along with his childhood friend Ravi Pratap M in 2009, after raising around $75,000 in seed funding from a bunch of angel investors including batch mates from the Indian Institute of Technology (IIT). Cisco, which has invested $1 million in the startup, is betting huge on enterprise mobility, and MobStac is hoping to gain from its backing. As more consumer brands push aggressively to beef up their mobile channels, these startups are seeing huge revenue opportunity.