Kinvey

About Kinvey

Kinvey operates as a Backend-as-a-Service (BaaS) provider, offering a platform that enables developers to build and deploy applications without managing the server-side infrastructure. Founded in 2010 by Sravish Sridhar, the Boston-based company aimed to simplify mobile, web, and IoT app development. Sridhar, a computer science graduate from the University of Texas at Austin, drew from his experience at the grid computing startup United Devices and Red Hat's cloud computing unit to identify the repetitive nature of backend development. He realized that features like data storage, user authentication, and push notifications were common requirements for most applications, leading to the creation of a platform that provided these out-of-the-box.

The company's core offering is a serverless backend that allows developers to focus on the user experience and frontend development. Kinvey's platform provides tools for data storage, identity management, custom business logic, push notifications, and analytics. It supports development for various platforms, including native iOS and Android, JavaScript, and responsive web apps. The platform is designed to serve both individual developers and large enterprises, with specific solutions for industries like healthcare, manufacturing, and insurance. For the healthcare sector, Kinvey offers a HIPAA-compliant version to handle sensitive data securely. The business model is structured around tiered subscription plans, including a free tier for hobbyists, a business edition, and an enterprise edition for larger organizations, with annual contract values reaching six figures.

A significant milestone in Kinvey's history was its acquisition by Progress (NASDAQ: PRGS) in June 2017 for $49.2 million. This acquisition was a strategic move for Progress to integrate Kinvey's BaaS capabilities with its own frontend development tools like Kendo UI and NativeScript, data connectivity solutions, and predictive analytics. The combination created a more comprehensive stack for building and deploying modern business and cognitive applications. At the time of the acquisition, Kinvey's platform powered over 31,000 apps used by more than 100 million end-users. Sravish Sridhar transitioned to the role of VP and General Manager at Progress for a period post-acquisition before founding another startup, TrustCloud.