Published On: Tue, Apr 23rd, 2013

Israeli startup Gizmox raises $7.5M for Hub headquarters in Boston

/ By Ilan Shavit /

Israeli company Gizmox, a developer of  tools for building and converting business application to web and mobile platforms ( HTML5) , has announced that it has raised $7.5 million in a financing round. funding to build and staff its new headquarters in Boston , while the company will expand its development center in Israel. Gizmox founded in 2007 by Navot Peled, Guy Peled, and Dan Lichtenfeld and has raised $18.5 million including the latest financing round.

gizmoxThe  funding round was led by Atlas Venture, with existing investors contributing Citrix, IVC, Consolidated Investment Group and others. Jeff Fagnan and Christopher Lynch of Atlas Venture will join the startup’s board of directors, officials said.

Gizmox said its HTML5 platform has two components — VisualWebGUI, a web and mobile HTML5 framework for enterprise apps, and InstantCloudMove, which migrates from client-server to pure HTML5 and the cloud.

In conjunction with the financing, Gizmox has named Eugene Kuznetsov as CEO. Kuznetsov was founder and president of DataPower, a SOA appliance company acquired by IBM, as well as co-founder and CEO of online privacy company Abine.

Fagnan said, “There is an enormous platform shift of mission-critical business applications from traditional Microsoft client-server to mobile, web and HTML5. While this is well understood and underway for horizontal or consumer applications, the problem for complex business applications is still largely unsolved. Gizmox has a unique solution informed by years of technology development and many successful customer deployments, to facilitate this shift.”

Maayan Ventures chairman Guy Rosen said, “We are happy to complete this significant investment round in Gizmox, which has been led by an experienced VC such as Atlas Venture, with the participation of Gizmox’s existing shareholders. This round marks a great milestone for the company in materializing its vast technological and economic potential.”

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