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HomeBusinessBump Raises $16 Million Round Led By Andreessen Horowitz

Bump Raises $16 Million Round Led By Andreessen Horowitz

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Bump Technologies creates smartphone applications and application programming interfaces that permit two cell phones to recognize and communicate when they are poked together.

It was listed at #8 on Apple’s list of the most popular unrestricted mobile applications of all time in 2011, and the app had been installed 125 million times by February 2013.

Company Bump picked up $16 million in a round of funding spearheaded by Andreessen Horowitz, with Sequoia, Sherpalo (Ram Shriram), and SV Soul also engaging.

That’s a significant amount of cash for a venture, particularly since it doesn’t yet have a direct roadmap to profits. However, it has several lofty goals. According to the corporation, the funds will be utilized primarily to expand its employee count significantly.

Bump Overview And Rundown 

David Lieb, an erstwhile Texas Synthesizers worker, came up with the notion for the Bump widget while studying for his Master’s program at the University of Chicago Booth School of Management. Bump Technologies was established in 2008 and is domiciled in Mountain View, California.

Y Combinator, Sequoia Investment, as well as other venture capitalists offered initial funding for the initiative. It drew attention at the CTIA’s worldwide connectivity symposium due to its ease of use and innovation.

The Bump product was released in the Apple iOS and Android Market in March 2009 and was characterized as “one of those apps that helped conceptualize the iPhone” (Harry McCracken, Technologizer).

It rapidly became Apple’s App Store’s billionth install. In November 2009, an Android edition was released.

How Does Bump Function?

Bump employs the internet to transfer contact details, photographs, and documents to some other smartphones. Every operator reaffirms what he or she desires to send to the second client before initiating the transition.

Two individuals physically nudge their handsets together to introduce a transition. On both users’ smartphones, a window displays, enabling them to verify the information they want to transfer to the other person.

When authorized devices nudge their smartphones, the phones’ operating systems send a diverse range of sensor information to an automated system operating on the Bump web server, including the phone’s position, gyroscope interpretations, destination IP, and other environmental parameters.

The algorithm computes which two phones experienced the same physiological bump and then transmits the details between them.

BUMP’s Vision And Mission

Bump’s main objective has consistently been to create probably the easiest toolkits for communicating information with other individuals and phones.

They attempt to create magical perspectives that are empowered behind the scenes by advances in arithmetic, information processing, and techniques.

Acquisition And Funding

Bump Technologies has raised a cumulative total of $19.9 million in three rounds of funding. Their most recent grant money came in the form of a Series B session on January 10, 2011. Bump Technologies is supported by eight shareholders as per horowitzhareuters

The most successful subsequent venture capitalists are Andreessen Horowitz as well as Sequoia Capital. Bump Technologies officially confirmed its procurement by Google on September 16, 2013.

Conclusion

Bump Technologies creates smartphone applications and application programming interfaces that permit two cell phones to recognize and communicate when they are poked together.

Y Combinator, Sequoia Investment, as well as other venture capitalists, offered initial funding for the initiative. It drew attention at the CTIA’s worldwide connectivity symposium due to its ease of use and innovation.

Bump employs the internet to transfer contact details, photographs, and documents to some other smartphones. Every operator reaffirms what he or she desires to send to the second client before initiating the transition.

Bump’s main objective has consistently been to create probably the easiest toolkits for communicating information with other individuals and phones.

They attempt to create magical perspectives that are empowered behind the scenes by advances in arithmetic, information processing, and techniques. Bump Technologies has raised a cumulative total of $19.9 million in three rounds of funding.

Their most recent grant money came in the form of a Series B session on January 10, 2011. Bump Technologies is supported by eight shareholders. The most successful subsequent venture capitalists were Andreessen Horowitz as well as Sequoia Capital.

That’s a significant amount of cash for a venture, particularly since it doesn’t yet have a direct roadmap to profits. According to the corporation, the funds will be utilized primarily to expand its employee count significantly.

FAQs

What is Bump?

Bump Technologies creates smartphone applications and application programming interfaces that permit two cell phones to recognize and communicate when they are poked together.

When was the firm established?

Bump Technologies was established in 2008.

Where is the company located?

It is domiciled in Mountain View, California.

How much has it raised to date?

Bump Technologies has raised a cumulative total of $19.9 million in three rounds of funding.

What is their mission?

Bump’s main objective has consistently been to create probably the easiest toolkits for communicating information with other individuals and phones.

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