Announcing our Round of Financing

I have great news to share with you today: I am pleased to announce that Onavo has completed a round of financing of $3 million from Magma Venture Partners and Sequoia Capital.

This round of funding is further testament to Onavo’s breakthrough technology and will strengthen the vision that has guided us from day one – to help users regain control over mobile data usage. Sequoia has backed an unprecedented number of enormously successful companies including Google, AdMob, Cisco and Jajah. Magma has a track record of being the first mover, as they were in our case, in innovative early-stage startups, such as Waze, Provigent and Wintegra.
We are thrilled to have Sequoia and Magma on our team, with their commitment to Onavo, we will be able to focus on our core technology, introduce Onavo to additional platforms and further evolve our services.

It’s been a few weeks since our launch on April 29th, and I’d like to take the opportunity to share some numbers with you:

  • Since the launch, Onavo has saved over 500,000 MB of data for our users
  • Onavo is servicing users from 90 countries around the world
  • Data from over 30,000 different apps has passed through the Magical Shrinking Machine

Finally, I would like to personally thank you, our users, for the overwhelming support and confidence you have shown over the past few weeks. Stay tuned, the fun has just begun!

[ Full press release: Onavo Secures $3 Million Financing Round from Magma Venture Partners and Sequoia Capital ]