Modo Labs Raises $4 Million in Venture Capital Funding

Mobile based open source content delivery system start up Modo Labs has announced that it has raised $4 million in a venture capital round of funding.

The company said in a press release that the recent round of funding was led by Storm Ventures and New Magellan Ventures.

Modo Labs offers an open source platform called Kurogo which allows educational institutes and enterprises to create mobile based websites and native applications to engage end users. Modo said that it plans to use the funding to accelerate market adoption of its mobile solutions.

The company said that the platform was being used by several colleges including Boston College, Brown University, Georgia State University, Harvard University, Middlebury College, Rochester Institute of Technology and St. Edward's University.

"Modo Labs is grateful for the adoption and support of our open source Kurogo Framework by the leading universities and enterprise customers around the world," said Andrew Yu, chief executive officer of Modo Labs.

"What started as a project to provide information to mobile device users at MIT back in 2007 has now grown into a robust open source platform that provides mobile solutions to higher education and corporations worldwide," he added.