Polish user experience design tool provider Uxpin has raised $700,000 from IDG Ventures, Innovation Nest and a number of Silicon Valley-based angel investors.
The young company will use the fresh capital to expand its product base and start developing a platform for professionals who design mobile and internet apps.
The angel investors who took part in the round are Andreessen Horowitz, an investor in Facebook and Instragram; Gil Penchina, an investor in PayPal and Linkedin; and Mansour Salame.
IDG is the venture capital arm of IT media company International Data Group.
Founded in 2011, Uxpin is headquartered in Gdynia and currently employs eight staff. The company provides user experience (UX) design tools to UX design professionals, namely a prototyping notepad that can then be uploaded to Uxpin's prototyping app. The notepad is used in a "traditional" sense and can then be photographed, uploaded and edited online.
Uxpin's tools are used for the UX design of mobile and web apps. Its products are used by design professionals at Apple, Google, Yahoo, Sony and IBM.
Marcin Treder is the CEO of Uxpin, as well as co-founder alongside CPO Kamil Zięba, COO Marcin Kowalski, Piotr Duszyński and Wiktor Mazur. Piotr Wilam is a managing partner at Innovation Nest and an adviser to Uxpin.
Deal marks the second bolt-on for the business, following the acquisition of Swiss diagnostic imaging provider IRD
Deal marks the second investment made from the GP's 2016-vintage sixth vehicle, which closed on £660m
Acquisition is the company's first out of two planned for this year with ActoMezz's backing
Total commitments for the fund fell some way short of the vehicle's €350m target and €400m hard-cap