Oct 17, 2013

[Tech In Asia] Kii, a backend-as-a-service firm that funds startups, confirms expansion to Southeast Asia

Backend-as-a-service (BaaS) companies have risen in prominence this year after the acquisition of Parse by Facebook (NASDAQ: FB) for a reported $85 million. 
A growing segment of cloud computing, BaaS platforms essentially gives customers a ready-to-use backend infrastructure which doesn't require writing a line of code. Ideally, it brings cost savings by reducing the need for users to hire a backend developer. 
While there are dozens of BaaS providers in a field with no clear leader in sight, one particular company stands out: Kii has received an investment from Silicon Valley based Fenox Venture Capital to expand to Southeast Asia. ...
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Tech In Asia 10/15/2013

memo
  • The amount of the finance is not disclosed but the total amount raised so far is $7.3 million. Unique point of the company is that it invests in app developers including Enish which went IPO in 2012. It seems the company does not need to raise money, but it may expect Fenox for helping its business expansion rather than money itself.
  • http://www.kii.com/en/

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