Norwest leads $30m Series B for app rules company Ifttt


moneyNorwest Venture Partners has reportedly led a $30m Series B round for Ifttt, which produces a programme that instructs apps and devices to take actions when certain conditions are met.

The latest financing round included participation from existing investor Andreessen Horowitz and increases total outside funding for the company to $39m, according to VentureWire.

Norwest general partner Josh Goldman joins the board as part of the deal.

The company is now said to have a value of at least $200m.

Ifttt was founded in 2010 and named after the acronym If This, Then That.

Users can create their own rules or choose from more than 14 million so-called recipe cards on Ifttt’s website.These include actions such as automatically downloading Facebook photos people are tagged in or getting a notification when a space station passes overhead.

In July Norwest was among the biggest investors in a $43.6m financing round for application-to-person text message provider mBlox.

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