The company has also announced a significant expansion of its platform, introducing new testing and push response tracking tools that provide insights into the effectiveness of mobile marketing campaigns, allowing marketers to deliver the right message at the right time to grow app usage and revenue. Kahuna will use the new capital to continue developing its mobile marketing solution, scale operations and expand its customer base.
The size of Kahuna's Series A round isn't very common; only 474 U.S.-based Series A deals of $10 million or more in size have been completed since the beginning of 2011, according to the PitchBook Platform. To put that in perspective, such deals accounted for only about 15% of all Series A rounds between 2011 and 2013, with the median Series A deal size being $3.4 million. The largest Series A financing in the time period was AirWatch's $225 million round, which reached its total after a $25 million extension in May 2013. The industries landing the largest portions of the $10 million+ Series A deal flow since 2011 include IT (37%), healthcare (35%), B2C (13%) and B2B (9%).