Foundry Makes First Investment From Second Fund

Boulder, Colorado-based investment firm Foundry Group is the lead investor in Portland-based Urban Airship, a developer of real-time, push notification software for mobile applications, in what is Foundry's first investment out of its recently announced second fund. According to Urban Airship today, Foundry led the firm's Series B investment, which was worth $5.4M, with participation from True Ventures and Founders Co-Op. Foundry announced the close of a new, $225M venture fund -- Foundry Venture Capital 2010, L.P -- in early October. Urban Airship's software is used by Apple iOS developers to provide real-time notifications to application users.