It took years of meticulous organizing, thoughtful strategy and a year-long beta to bring Dropsource‘s mobile app development tool to launch. Once it had established a recognized brand among mobile developers and received solid validation from beta users, Dropsource came out of stealth mode this summer ready to dominate its market with an official product launch.
So far, the team is seeing returns on their hard work, prompting a new $5.3 million round from 25 investors, some of them local. The round, announced yesterday, brings Dropsource’s total funding to just over $10 million from two seed rounds in 2014 and a $3.8 million Series A in 2015.
With the funding, Dropsource commits to grow its local team from 14 to 20 by the end of the year, with additional plans to expand product offerings and enter new markets.
Back in June as the team was preparing for the official launch, Dropsource CEO Ben Saren told me his underlying goal for the remainder of the year was to drive a message through the brand—giving companies and individuals the tools they need to be autonomous in creating their own apps, to keep ahead of competitors and ride the course of innovation as the tech landscape intensifies in 2017 and beyond.
Support from existing investors and the attention of new ones in this round gives the Dropsource team hope they can pull off that mission on an even larger scale moving forward—especially as the market for software automation is intensifying globally.
Flip through the startup’s story since its 2014 founding in the timeline below.