Telstra invests AU$18.3m in Kony

Telstra invests AU$18.3m in Kony

Summary: Telstra has invested AU$18.3 million in US mobile app provider Kony Solutions.

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Telstra has announced that it will invest AU$18.3 million in US-based Kony Solutions, which offers pre-built customisable apps for businesses.

Kony Solutions — not to be confused with Ugandan warlord Joseph Kony — sells pre-built apps and applications platforms, and boasts customers such as eBay, Toyota, and Hyatt.

In addition to taking a stake in the company, Telstra will begin offering the products to its business customers, Telstra Ventures managing director Mark Sherman said.

"Kony offers business and enterprise customers a library of innovative pre-built mobile applications, including the Kony Platform that enables customers to write their own applications and deploy them across multiple channels simply and at low cost," Sherman said in a statement.

"Workforces are becoming increasingly mobile, so the ability to deploy these types of apps across devices and operating systems is fast becoming a non-negotiable business requirement. Kony's solutions will also help our business and enterprise customers create, quickly deploy, and manage applications for their smartphone and tablet fleets."

Kony CEO Raj Koneru said that on the back of the funding from Telstra, Kony would now look to expand into the Asia-Pacific region more quickly.

Telstra has already made a number of investments through its Ventures arm, and Sherman said that within the next three to five years, the company will look to have invested in between 20 and 30 companies.

Topics: Telcos, Start-Ups, Telstra

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Armed with a degree in Computer Science and a Masters in Journalism, Josh keeps a close eye on the telecommunications industry, the National Broadband Network, and all the goings on in government IT.

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