Onymos, a pioneering ‘feature-as-a-service’ platform for app development, has announced the closure of a $12 million Series A funding round led by Great Point Ventures, with participation from Benhamou Global Ventures, Engineering Capital, and Industry Ventures. This significant investment will be allocated towards product development and scaling up Onymos’ go-to-market activities.
CEO Shiva Nathan’s Vision for App Development
In an exclusive interview with TechCrunch, CEO Shiva Nathan highlighted the pressing need to transform the app development landscape. "Software-as-a-service sprawl creates complexity and a lack of visibility for enterprises and their apps," he explained. "For an enterprise engineering team, the balance has shifted from having to choose from just a few providers for the long term to being overwhelmed by the myriad of choices."
Nathan’s assertion is backed by data from a 2018 Stripe survey, which revealed that the average developer spends over 17 hours a week dealing with maintenance issues such as debugging and refactoring. Moreover, they dedicate approximately four hours a week to "bad code," resulting in nearly $85 billion in opportunity cost lost annually worldwide.
Introducing Onymos: A Solution for App Development
Onymos aims to alleviate this burden by providing off-the-shelf features that can be seamlessly integrated into new and existing apps. The platform offers a range of modules, including login, biometrics, chat, data storage, location services, and notification, complete with the necessary components for user interface, underlying logic, and server-side functions needed to process data in the cloud (e.g., public clouds like Amazon Web Services, Microsoft Azure, and Google Cloud Platform).
By leveraging Onymos’ platform, developers can redirect their time and energy towards more strategic tasks, such as building innovative features that drive business value. As Nathan noted, "Companies can make their software developers spend time debugging corner cases in Meta’s Graph API for Facebook Login or leverage their creativity and insight to build real value-add capabilities that help their employers win."
The Benefits of Onymos’ ‘Feature-as-a-Service’ Approach
Onymos’ innovative approach abstracts away the complexity of app development by acting as an integration layer for software vendors. This enables customers to build on a single endpoint, without worrying about operating system and API updates, device compatibility, or maintenance.
While Onymos is not the first company to offer ‘feature-as-a-service,’ its focus on expansion into the machine learning space sets it apart from competitors like Localytics (social), Mapbox (location), Storyteller (Instagram-style Stories), and WorkOS (enterprise capabilities).
Machine Learning: The Next Frontier for Onymos
Nathan identified machine learning as a key area of growth for Onymos, with plans to introduce new end-to-end features and support more development frameworks. "What we’ve found working with customers in the healthcare space is that there’s a significant need for AI-driven solutions," he explained.
The Future of App Development: A New Era of Efficiency and Innovation
With the closure of this Series A funding round, Onymos is poised to revolutionize the app development landscape. By streamlining the process and providing developers with access to cutting-edge features, Onymos is set to drive innovation and efficiency in the industry.
About Onymos
Onymos is a pioneering ‘feature-as-a-service’ platform that enables developers to build innovative apps without the complexities of traditional development methods. With its focus on machine learning and expansion into new markets, Onymos is poised to become a leader in the app development space.
