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Point.io says it raised $4MM for sales, tech

Mobile-apps platform-builder

Point.io, a University City-based firm whose Digital Engagement Platform helps corporate customers build new cloud-based mobile applications compatible with older and desktop systems, has raised $4 million from "prominent companies and individuals" in New York and Philadelphia, bringing total capital raised to date to $4.5 million, chief executive Ron Rock tells me.

Rock and his fellow managers reorganized and renamed the firm after acquiring Andrew Schwabe's CloudPointe in 2013. Previous Form D filings here. Rock says clients include healthcare, telco and financial service companies, served by a mix team of "brilliant kids" and veteran engineers -- about 30 people in all, including sites in Boston and London.

Point.io will use the money to "increase sales staff and add technical resources." Rock sold his previous firm, Knowledge Rules, a business-process management consultancy, to Accenture in 2010.

Rock says Philadelphia tech grows more slowy than it should, because the local venture capital community, including firms that invest for the state pension funds, "kind of grunt at you and play it very close to the vest" instead of spreading contacts in hopes of future reciprocation, the way business is done, say, in Silicon Valley. "It's a cultural thing that's been hard to break, to get people to help each other," Rock added. "But we're working on it. WIth people at places like Comcast and Drexel and Penn, we are getting through."