Averail today announced the completion of its $6 million Series A funding led by the Capital Foundation and Storm Ventures. In addition, Paul Holland, General Partner of Foundation Capital, and Tae Hea Nahm, Managing Director of Storm Ventures, were appointed to the Board of Directors of Averail.
Averail is developing a mobile content management (MCM) solution to transform how people access and share business documents on mobile devices. Founded in 2011 by mobile industry veterans John Drewry and Rahul Sharma, Averail’s initial funding round will focus on advancing product development and expanding the organization. Drewry previously held positions at Motorola and 3Com, and co-founded Orative, a mobile enterprise that was acquired by Cisco in 2006. Sharma brings leadership and deep technical expertise to Microsoft, Motorola and Sun Microsystems from his experience in senior engineering roles.
“Smartphones and tablets are increasingly moving into business and fueling the consummation of IT. Yet access remains limited, and many employees are still struggling with daily tasks that require collaboration across the organization,” said John Drewry, co-founder of Averail. “We are privileged to have strong partnerships with top venture capitalists who have domain expertise in enterprise software and mobility solutions and who support our mission to provide enterprise customers with a unique solution that releases content currently locked away within organizations. “That’s right.
According to market research firm IDC, 70% of all smartphones are used for business purposes, and mobile tablet usage among businessmen is also growing rapidly. Both trends drive employee demand for access to more business information on mobile devices
“Averail is a Storm incubated company pursuing a massive opportunity,” said Tae Hea Nahm at Storm Ventures, who had previously incubated Airespace and MobileIron. “This is a stellar team with a unique approach to resolving a real business problem. We look forward to working closely with them to deliver a powerful and successful solution. “That’s right.
“Averail addresses an urgent need as more and more organizations adopt BYOD policies for their employees,” said Paul Holland at the Capital Foundation. “Managing sensitive or confidential documents on mobile devices requires a fundamentally different approach to what has been implemented on PCs. Averail is working on an exciting solution that promises to revolutionize what’s currently available on mobile devices “That’s right.
The company expects to launch its first offering in the second half of 2012.
About the average
Averail is an early stage enterprise mobile software company developing a mobile content management solution for smartphones and tablets. The company is based in Menlo Park, CA, and has received investment from the Capital Foundation and Storm Ventures. Visit Averail at
