Office ForTablets App ‘CouldOn’ Raises $16M

CloudOn, a tablet app for creating, editing and managing Microsoft Office and Adobe documents in the cloud, announced it has closed $16 million in a Series B funding round led by The Social+Capital Partnership. In the round participated also Translink Capital and existing investors: Foundation Capital and Rembrandt Venture Partners. CloudOn was launched in January 2012 and according to the company passed one million downloads in less than five months. It will use the funding to scale business operations and develop a productivity workspace available on any mobile device. The company is based in Silicon Valley with offices in Herzliya, Israel.