Cell app knowledge platform AppMagic has raised $3 million Collection A funding spherical. GEM Capital led the spherical with its $2.5 million funding. Vibranium additionally participated, contributing the remaining $500,000.
“AppMagic stays dedicated to creating a user-friendly, full spectrum toolset for cellular app market analysis,” stated Max Samorukov, founder and CEO of AppMagic. “This funding from GEM Capital will speed up our product growth, including new varieties of knowledge and rising its accuracy. Moreover, we intention to determine regional gross sales groups to enhance our world presence. We additionally proceed to help smaller corporations and developer communities with very versatile pricing and wealthy performance accessible at no cost.”
AppMagic plans to make use of these new funds to construct out devoted gross sales groups for the U.S., China, South Korea and Japan. The corporate hopes these localized gross sales groups will assist them acquire market share in these key areas.
Samorukov, previously the CPO of Loopy Panda, based AppMagic in 2016 and launched in 2018. The Tampa, Florida-based firm raised $200,000 in seed funding from efficiency advertising and marketing agency RoasUp in 2020.
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AppMagic expands in consolidating market
This $3 million funding in AppMagic comes simply months after Sensor Tower acquired fellow rival, Information.ai. The corporate hopes to accumulate purchasers which can be on the lookout for an easier-to-use or extra reasonably priced different.
Along with its straight aggressive providing, AppMagic boasts a number of proprietary instruments to assist cellular app builders succeed. These embody its Success Meter and Dwell-Ops instruments to assist builders higher perceive the market panorama.
“We had been impressed with what AppMagic has achieved with simply $200,000 in seed funding. They turned the third-largest cellular market intelligence instrument by variety of purchasers,” stated Kirill Gurskiy, managing director of GEM Capital. “As AppMagic customers ourselves, we consider it’s the greatest product in the marketplace when it comes to UI/UX. The simplicity and ease of use, mixed with the depth and complexity of its evaluation, are unparalleled. The current Sensor Tower and Information.ai deal opens a window of alternative for AppMagic to capitalize on its strengths. We’re excited to help Max and his crew on this promising enterprise.”
Notably, GEM Capital and AppMagic have an present relationship. In April 2024, the enterprise capital fund named Samorukov as an advisor.
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