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Mobile App Development Platform AppGyver Receives $2.5M in 'Super Angel' Funding

Additional Capital Investment for the Company That Helps Developers Create Native Apps for iOS and Android

SAN FRANCISCO, CA -- (Marketwired) -- 03/27/14 -- AppGyver (www.appgyver.com), a provider of innovative tools for rapid mobile app development, today announced an extended seed super-angel investment of $2.5 million. AppGyver's take on making mobile app development an enjoyable experience for novice and seasoned developers alike attracted multiple investors, led by Initial Capital and Open Ocean Capital, and significant additional grant funding from TEKES, the Finnish Funding Agency for Innovation. The new funds will be deployed to expedite growth and development efforts as well as new R&D that will integrate third party cloud services.

"We are big believers in the growth of the application ecosystem," said Kristian Segerstrale of Initial Capital, investors in Supercell, Swrve, Nexmo and other mobile firsts. "AppGyver has an impressive track record as a unique technology- and service-enabler, helping more services rapidly create and deploy beautiful, native-feeling apps across multiple devices as their front ends."

Since AppGyver launched its app-development platform Steroids last August, more than 10,000 apps have been built on it. Steroid users are startups, freelancers and a growing number of Fortune 500 companies -- including Accenture, AT&T, BBC, Cisco Systems, Groupon, SAP, IBM, Salesforce, Dell, Deloitte and more -- indicating a trend toward the use of AppGyver to develop more data-driven apps.

"Developers need access to tools that allow one to do mobile apps which have a native look and feel, and where the same code can be run on multiple platforms. AppGyver provides this in an easy-to-use way," added Michael "Monty" Widenius, Open Ocean partner, creator of open-source database MySQL, and founder of his eponymous company later acquired by Sun. "Could one ask for more?"

Steroids provides the technology to make HTML5-based mobile apps, which are quick and responsive, that contain real native-user interface elements, including tabs, animations, navigation, transitions, modal windows and drawers -- everything fundamental to a well-designed native app. With Steroids, developers can build apps that are fully native in behavior using HTML, JavaScript and CSS. Users can also divide application architecture intelligently with multiple HTML pages, getting the best of both worlds.

About AppGyver
AppGyver's mission is to provide complete toolsets for novice and seasoned mobile developers alike to quickly build, test, preview and deploy fully functioning HTML5 mobile apps that are indistinguishable from native counterparts. The company's recently released Steroids SDK closes the performance gap between native apps and HTML 5 hybrids by utilizing native UI components, navigation and animations, together with the HTML5-wrapped application. Prototyper, the first product launched by AppGyver, allows those with limited technical knowledge to build full app prototypes that can be tested and demoed without the need for provisioning, third-party installations, or the official app store environment. For more information, please visit www.appgyver.com.

About Initial Capital
Initial Capital is an investor in seed and early-stage technology companies with a focus on games, consumer services and technology enablers. We're not a traditional VC fund -- we're a group of serial entrepreneurs who invest our own money and actively partner with world-class teams to build global category winners.

About Open Ocean
Open Ocean is a leading early-stage venture capital firm focusing on disruptive European software startups utilizing user-based business models. Open Ocean leverages its direct experience as the founder of MySQL to provide hands-on support to the management of companies receiving Open Ocean's funding. Open Ocean Fund Three is supported by the European Union through the CIP Programme. For more information, visit us at www.openoceancapital.com

All product and company names herein may be trademarks of their registered owners.

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