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Sequoia And IDG Put $10 Million Into Mobile App Developer Sourcebits

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Startup Sourcebits has raised $10 million in Series A funding from Sequoia Capital and IDG Ventures today.

Sourcebits, which has operations in both India and Atlanta, creates apps for the iPhone, iPad, Android, BlackBerry, Palm Pre and Windows 7 mobile platforms. The company, whose client base includes companies ranging from Fortune 500 companies to small start-ups, has developed over 300 apps, 20 of which are in the top 100 in the Apple App Store, Android Market and other app stores. Some of startup’s more popular apps include Robokill, Knocking Live, Daily Deeds, Night Stand, Skyfire, Beast Farmer and more.

For example, Night Stand, an app which converts the iPhone/iPad into an alarm clock, reached the number two spot for All Time Top Download on the iTunes App Store within four days of its release and has been downloaded more than 3 million times. Knocking Live, a live streaming app for iOS, has seen more than 2.3 million downloads.

The new investment will be used to set up engineering and sales centers in the United States, as well as
augmenting a design engineering team in India and Europe.

As mobile app usage continues to grow exponentially and more independent app stores pop up, developers with expertise in creating engaging apps for smartphone platforms will continue to be in demand.