Onavo lands USD10m for mobile data compression

Wed Jan 25 2012, 15:56 PM

App developerOnavo, which creates an application designed to save users money by compressing data usage, has raised USD10m in Series B round led by Horizons Ventures, along with Motorola Mobility Ventures. Jason Wong of Horizons will join Onavo’s board as part of the deal. Existing investors Sequoia Capital and Magma Venture Partners also participated in the round. The app monitors the data usage on a mobile device, routing compressed data through its cloud servers to reduce data charges for users, especially when overseas.

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