Taiwanese software company Kdan Mobile has landed a US$5 million round of venture capital to expand in China and the United States while developing new products.
Kdan Mobile said in a news release it would use the funds to focus on expanding offshore along with developing features for businesses and schools. For these clients, the capital will let Kdan Mobile enhance features such as data security, encryption and file synchronization across linked devices.
"We are stunned by Kdan's leading development technology and global vision,” said WI Harper managing director Y.K. Chu. “We are glad to be part of their development plan and expect to grow with them.”
The company had previously received more than US$1.2 million in its funds in June 2016, mainly from VenTek Ventures. The latest funds mark Kdan Mobile’s A-series round, the most significant to date.
CEO and founder Kenny Su started the company in 2009. He said business has been profitable and that the funding will go toward artificial intelligence and blockchain technologies as well as overseas expansion.
Kdan Mobile is headquartered in Tainan, a southern city in Taiwan. It has offices today in China and the United States. It now makes PDF tools and designs software.
Flagship products have exceeded 120 million downloads and generated more than 3.5 million cloud members.
The firm aims especially now to develop Software-as-a-Service, at technology sometimes called “on-demand software," the founder said.
Su, 38, a National Cheng Kung University graduate with a background in computer science and mobile software development, said he is looking as well for business partners to help growth. He’s also studying whether to make an IPO. "Partnerships are one of the keys to our continued competitive edge,” he said in a news release.
“We have been actively cooperating with many international partners…These partners help us reach a larger audience and provide resources to help our users make even more efficient use of our products and services,” he said.
Kdan Mobile now has six flagship applications: Animation Desk, NoteLedge, Markup, PDF Reader, Pocket Scanner, and Write-on Video.