Twin Prime, a provider of mobile data delivery optimization, emerged from stealth and announced it has raised a $9.5 million Series A round of funding. DFJ and True Ventures co-led the oversubscribed round. Also participating are Milliways Labs and Moment Ventures. As part of the funding, Bubba Murarka, partner at DFJ, and Om Malik, partner at True, have joined the company board.
CORRECTION: In the above summary, the name of investor DFJ was misidentified in an earlier version.
Twin Prime Launches with Oversubscribed $9.5M Series A to Solve Mobile Data Delivery Challenges
DFJ and True Ventures Join Board of Directors and Lead Round with Participation from Milliways Labs and Moment Ventures
Redwood City, Calif., – March 18, 2015 – Twin Prime, an innovator in mobile data delivery optimization, today emerged from stealth and announced a $9.5 million Series A funding round. The oversubscribed round was led by DFJ and True Ventures with participation from Milliways Ventures and Moment Ventures. Bubba Murarka, Partner at DFJ, and Om Malik, Partner at True Ventures, also join Twin Prime’s Board of Directors. The company will use the funds to significantly accelerate its go-to-market and sales activities, and expand its product development efforts focused on solving the optimization problems of the $3 billion mobile acceleration market*. In a separate release, the company announced the Twin Prime mobile application acceleration solution that powers the delivery of dynamic, static and encrypted content on both cellular and Wi-Fi networks.
“Seventy to 90 percent of mobile latency challenges occur in the wireless last mile of the network. As consumers have shifted to mobile as their primary consumption device, this has created a critical business problem for companies looking to engage with customers in this new mobile first world,” said Bubba Murarka, Partner at DFJ. “We are backing Twin Prime because of the company’s strong leadership team and its technology solution. Twin Prime understands that each mobile session has unique requirements, and they overcome these challenges by automatically optimizing for every mobile session.”
Mobile is quickly becoming the primary source of traffic, forcing companies to look beyond an “optimize once, use everywhere” approach, which worked well with a fixed Internet model that centered on predictable and consistent networks. Businesses must ensure a top-level mobile user experience in order to retain their customer base. Given that 40 percent of mobile retail customers wait only 3 seconds for content to load before leaving for a competitor,** and every 100-millisecond delay in content delivery can equate to a 1 percent drop in revenue, there are literally billions of dollars at stake.
“True is excited to back the Twin Prime team as they are focused on a problem that is rapidly growing in magnitude. Until now, mobile’s inconsistent and often erratic performance has made content delivery up to three times slower than on traditional PCs,” said Om Malik, partner at True Ventures. “Companies risk not only their reputation on that sub-par experience, but it impacts their bottom line. Twin Prime’s unique solution solves the complex challenges of the mobile ecosystem, and represents a paradigm shift for organizations looking to speed content delivery via mobile apps.”
Twin Prime’s patent pending GLAS technology frees companies from the complexities and infinite variations inherent in mobile content delivery by customizing optimizations in real-time for every mobile app launch. By delivering content-agnostic last mile acceleration, Twin Prime’s platform enables brands to distribute the best content possible on mobile, without having to make lowest-common denominator compromises in mobile app design.
“Against the backdrop of mobile bandwidth scarcity and an increasing understanding of the link between mobile performance and user experience, we’ve seen plenty of solutions come to market all aimed at mobile content optimization,” said Peter Jarich, VP of Consumer and Infrastructure research at Current Analysis. “It’s refreshing to see Twin Prime take a unique approach to the mobile performance problem that doesn’t actually touch the content but treats delivery bottlenecks. It’s even better to see that this strategy is delivering results.”
“Our customers see increased user engagement on their apps all across the world over both Wi-Fi and cellular networks. What they like about Twin Prime is the ability to optimize and customize acceleration strategies to every app session as its being used,” said Kartik Chandrayana, Chief Executive Officer and Co-founder of Twin Prime. “We are dedicated to providing the next-generation mobile experience. It’s where business has evolved and it’s a greenfield opportunity that we are ready to deliver on.”
About Twin Prime
Twin Prime, an innovator in mobile data delivery optimization software, powers the fastest way to deliver content to mobile devices on both cellular and Wi-Fi networks. The company’s GLAS technology utilizes an automated hypothesis testing infrastructure to mitigate imperfections and variability in the wireless last mile by optimizing and customizing the content delivery strategy every time a mobile app is launched. Twin Prime solves for the inherent volatility and diversity among devices and networks so companies can increase user engagement and build brand affinity. These optimizations are content agnostic, don’t rely on caching, compression or content modification, and enable Twin Prime customers to engage their users by delivering high quality content, even over secure protocols like HTTPS. Fortune 500 brands, m-commerce, social media apps, advertising networks, publishers and companies of all sizes with a mobile presence rely on Twin Prime to connect with millions of customers daily. www.twinprime.com.
Connect with Twin Prime: http://www.twinprime.com
Follow on Twitter: @twinprimeinc