m>Path, a mobile development platform that helps users create and manage applications, has raised $1.65 million in a seed round from JUMP Investors. Founded by former top Salesforce executives, Claus Moldt and Trae Chancellor, m>Path is coming out of stealth mode today.
The financing will be used to build a core product development team at m>Path’s Palo Alto and San Francisco offices, the company said in a statement.
Randall Kaplan, the founder of JUMP Investors, who led this seed round is joining as the chairman of m>Path, the startup said in a statement. Kaplan, one of the co-founders of Akamai Technologies, has backed more than 40 early and late stage technology companies including Google and Seagate Technology.
Claus and Trae are among a growing number of former Salesforce executives who have launched their startups recently. In December last year, Salesforce’s ex-CMO, Kraig Swensrud launched GetFeedback, a mobile-first customer survey platform.
“We are very impressed with the stellar management team behind m›PATH, their vision, and the market traction they have already achieved with large enterprises looking to improve their mobile application infrastructure,” Kaplan said.
Apart from getting an investor of Kaplan’s stature, the m>Path founders have also hired Matt Mihic, a former lead platform engineer at Square, as the CTO.
“The more we speak with companies and individuals, the more we realize the pressures they are facing in developing the right mobile strategies, especially as mobile becomes a strategic customer engagement channel,” said Chancellor. Currently, the product is only available for private beta customers, but Chancellor said m>Path has already been receiving enquiries from large enterprise customers.
