Cell app knowledge platform AppMagic has raised $3 million Sequence A funding spherical. GEM Capital led the spherical with its $2.5 million funding. Vibranium additionally participated, contributing the remaining $500,000.
“AppMagic remains committed to developing a user-friendly, full spectrum toolset for mobile app market research,” stated Max Samorukov, founder and CEO of AppMagic. “This investment from GEM Capital will accelerate our product development, adding new types of data and increasing its accuracy. Additionally, we aim to establish regional sales teams to improve our global presence. We also continue to support smaller companies and developer communities with very flexible pricing and rich functionality accessible for free.”
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 achieve 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, Knowledge.ai. The corporate hopes to amass shoppers which are searching for an easier-to-use or extra inexpensive various.
Along with its straight aggressive providing, AppMagic boasts a number of proprietary instruments to assist cellular app builders succeed. These embrace its Success Meter and Stay-Ops instruments to assist builders higher perceive the market panorama.
“We were impressed with what AppMagic has achieved with just $200,000 in seed funding. They became the third-largest mobile market intelligence tool by number of clients,” stated Kirill Gurskiy, managing director of GEM Capital. “As AppMagic users ourselves, we believe it is the best product on the market in terms of UI/UX. The simplicity and ease of use, combined with the depth and complexity of its analysis, are unparalleled. The recent Sensor Tower and Data.ai deal opens a window of opportunity for AppMagic to capitalize on its strengths. We are excited to support Max and his team in this promising venture.”
Notably, GEM Capital and AppMagic have an current relationship. In April 2024, the enterprise capital fund named Samorukov as an advisor.
