Mobile app developer Service2Media has secured $10m (£6.1m) in funding from Prime Ventures and Newions Private Plus Fund.

Service2Media produces apps for the media, finance and utility industries. Clients include TURNER/CNN, Al Jazeera, Rabobank and Reed Elsevier. The company says the investment will enable it to expand its partner network. The funds will be used to grow the business, seeking out and recruiting R&D talent, and further developing Service2Media’s app lifecycle platform – M2Active.

A recent report by Forrester Research, (Mobile App Internet Recasts Software and Services Landscape, 201), forecast that the global market for mobile apps services will reach $17bn for IT services providers by the turn of 2015*. According to Gartner: “Cross-platform mobile application development tools will become more numerous and more capable, driving a slow shift from platform-specific to platform-independent application development technologies”.

“Independent industry analysts have identified us as one of the leading companies that are addressing the growing need for apps designed once – deployed on multiple devices,” says Service2Media CEO, Geert Kolthof. “The investment by Prime Ventures and Newion’s Private Plus Fund will help us focus on areas such as talent recruitment and expanding our partner network, which will ensure the further growth and development of our business.”