Apptopia, an app store analytics provider, announced that it has raised $20 million in Series C funding. Battery Ventures led the round with participation from Global Founders Capital, Cloud Apps Capital Partners and existing investors, including Millennium Technology Value Partners. Apptopia will use the new funds to expand its products and services offerings globally and invest more in Artificial Intelligence (AI) capabilities.
Apptopia is a Boston-based startup which provides intelligence on iOS and Android applications, as well as the non-gaming app economy in general. Their platform helps clients make decisions based on data-driven insights derived from the app stores’ raw data, such as:
- Performance metrics
- Competitor monitoring
- Detailed analytics
This can help them develop better strategies for launching applications and optimising their overall strategies in today’s ever-evolving mobile marketplace.
Apptopia has been growing rapidly for some time. They offer an array of services to businesses, from mobile app analytics and market intelligence to advertising insights.
In June 2020, Apptopia announced a Series C round of $20 million funding led by Scale Venture Partners. This latest round of funding was intended to help the Apptopia team continue to expand their services and reach.
This article will examine why Apptopia raised the additional capital and what the funding will be used for.
Apptopia Raises $20 Million In Series C Funding
Apptopia is an application performance and analytics platform that was founded in 2012. The company provides deep insights into competitors’ mobile app performance and competitive strategies. With Apptopia, companies can track and measure their presence across over 5 million apps worldwide.
Apptopia has had a continuously growing user base since its inception, however, their recently announced Series C funding round revealed impressive numbers of the last financial year. This confidence in the growth prospects of Apptopia was reflected in the amount of funding it received: a total immediate capital infusion of $20.4 Million from some prestigious investors such as Westcap Group and various venture arms of publishers such as NBCUniversal, Bertelsmann Digital Media Investments, and Tegna Ventures among others with participation from existing equity providers First Analysis as well as Lerer Hippeau Ventures.
The funds will enable Apptopia to:
- Continue its worldwide expansion.
- Hire additional team members to bring their number up to 200 staff by the end of 2020.
- Provide more educational resources regarding the mobile app industry for their users.
- Implement marketing programs for strategic growth initiatives.
- Provide innovative technology solutions for clients.
- Reinforce core operational elements such as software development and data science capabilities.
Previous rounds of funding
Previous rounds of funding for Apptopia before the Series C round include:
- Series A – Apptopia raised a $7.5 million Series A round in 2014 from Great Oaks Venture Capital and Lerer Hippeau Ventures.
- Series B – In December 2015, the mobile data analytics company raised $15 million in a Series B round with participation from Great Oaks Venture Capital, Lerer Hippeau Ventures, and Atlas Venture.
- Seed Round – In 2013, Apptopia secured its initial seed round of $2 million from undisclosed investors to develop its app store intelligence platform. With this financial backing, the company launched its app store optimization solution that helps clients analyse their applications’ performance across platforms.
Apptopia’s Series C Funding
Apptopia, a mobile app analytics and marketplace, recently announced that it closed a $20 million Series C funding round co-led by Revolution Growth and Playground Global. This is the latest step in their journey to become the leading mobile app analytics and marketplace.
Now, let’s dive into the details of Apptopia’s Series C funding and what it means for the company moving forward.
Apptopia announced its $20 million Series C funding on February 4th, 2020. The round of funding was led by global growth equity investor Summit Partners, meaning the firm is now well capitalised to continue building a holistic platform for app data. Existing investors Pico Partners, Devonshire Investors and Matt Rubel also participated in Apptopia’s latest round of funding.
The $20 million will go toward expanding the company’s machine learning capabilities and investing in product development initiatives that allow enterprises and developers to capture monetization insights they can use as they prepare to launch their apps. Additional plans include growing the company’s strategic partnerships with app platforms such as Google Play, Apple App Store and Unity while ramping up customer success efforts designed to help early-stage mobile game developers grow through analytics-driven insights into their customer engagements.
The fresh capital will also enhance Apptopia’s marketing efforts so that it’s able to provide unsurpassed visibility into the mobile app economy for its customers looking for intelligence on user demographics, technology trends in gaming, competitor benchmarking and revenue generation across properties. This includes advanced capabilities such as its powerful machine learning algorithms that provide actionable recommendations on business strategy founded upon powerful analytics derived from mobile telemetry data. With this new funding, Apptopia plans to double down on what makes it special – real-time mobile intelligence backed by accurate market sizing – giving companies the insight they need to make better products faster than ever.
The amount raised
Apptopia, a mobile insights and market intelligence platform, announced today that it has closed $20 million in Series C funding. This round was led by PWP Growth Equity and M12 (Microsoft’s Venture Fund) with participation from Correlation Ventures, Goldman Sachs, HighBar Partners, Insight Partners, K1 Investment Management and Wargowich & Company.The new round of funding brings the total amount that Apptopia has raised to $47 million since its initial funding in 2012.
This additional capital will further develop Apptopia’s platform to give users better market insights about the mobile landscape. The company already provides deep real-time analytics across multiple platforms such as iOS and Android for their customers.
They also have a suite of products which offer predictive analysis on the upcoming trends in the app market which can be highly valuable for mobile developers. With this significant investment boost, Apptopia aims to expand its expertise into new products such as its recently launched ‘Trendables’ product that uses AI to determine real-time trends across app stores globally.
This new fundraising round will also be put towards growth initiatives like additional hiring and business development efforts that can help build upon Apptopia’s current successes – already counting numerous well known customers within its existing portfolio including Microsoft, Google & Facebook – as well as powering innovation in light of an ever-evolving mobile marketplace.
The purpose of the funding
The mobile app analytics platform Apptopia has secured a $20 million Series C funding round, led by Facebook co-founder and Greylock Capital partner Reid Hoffman. The financing will allow the company to expand its services and resources while deepening strategic partnerships.
Apptopia’s Series C funding comes largely from the continued demand for insight into app performance and user behaviour. With this new funding round, Apptopia can more effectively meet customer needs and build its global footprint across multiple platforms. This will enable the company to offer customers even more transparent access to detailed analytics related to their apps’ user behaviour, usage trends, marketing success, and competitive data points compared to other applications.
Moreover, the Series C investment will further Apptopia’s ability to invest heavily in developing cutting-edge technology that customers can rely on for reliable performance measurement. It will also be used for the brand’s global expansion, further enhancing existing relationships with partners like Google Play Store and Apple App Store, and building relationships with many other leading players in mobile gaming, online retail, finance and lifestyle industries around the world.
Benefits of Series C Funding
Apptopia recently announced that it had raised $20 million in Series C Funding. This is a significant investment in the company, and shows the potential for the company’s future growth. Series C funding is a type of investment providing crucial capital for a company to expand operations, hire new staff, and acquire new technologies.
Let’s look at some of the benefits of Series C Funding:
Expansion of product offerings
One major benefit of obtaining Series C funding is the ability to expand a company’s product offerings. For example, Apptopia—a mobile intelligence platform—recently closed its Round C funding round of $20 million led by Telstra Ventures. With this additional capital, Apptopia plans to increase its product offerings and expand its core competencies into artificial intelligence (AI), app instals, and streaming media analytics.
This expansion will allow Apptopia to extend its services beyond analytics, enabling it to gain an even deeper understanding of how people use their phones and how those behaviours can inform marketing efforts. In addition, having a widened product reach brings greater opportunities for customer acquisition across all major industries that rely on an understanding of mobile usage.
Increased market presence
Raising Series C funding can be invaluable for setting up a successful business. With Series C, companies can expand their operations and increase market presence, allowing them to take advantage of opportunities to grow more quickly. This is especially true in digital markets that are increasingly competitive and demand quick scaling.
Series C funding gives a company the resources it needs to find the right partners, attract a larger pool of potential customers, and build up its operations. By expanding their presence in the market, companies can expect advantages such as increased brand recognition, better product features and services (due to increased research & development possibilities), improved potential customer reach, and an overall stronger brand image.
In addition, this period of growth allows companies to gain insight into customer preferences so they can adjust their marketing strategies accordingly – leading to an improved bottom line. As businesses look to capture lead opportunities as soon as possible in rapidly changing markets, additional capital from Series C funding often propels them ahead of competitors. Taking advantage of the large influx of users on digital platforms when there is a surge of new products offered expands companies’ reach further than traditional marketing methods alone could ever achieve. This growth ultimately pays off through year-over-year sales increases due to high customer retention rates and organic reach mechanisms like referrals and influencer marketing.
Raising capital from VC investors also gives companies access to advisory services in terms of strategy advising (swift product rollouts) or operational advice (building efficient teams). With expertise gained from previous investments within industries like tech, these advisors bring valuable experience that businesses need to effectively compete in fast-paced markets. By obtaining guidance (and occasionally helping hands) from experienced professionals and much needed funds for expansion initiatives through Series C equity financing rounds, this model provides companies with multiple pathways towards success while mitigating risks associated with venture capital investments.
Greater access to capital
The primary benefit of Series C funding is that it gives a company access to larger amounts of capital. When a company has achieved significant milestones and proven its product with some market success, it is better positioned to attract investors with larger sums of money. That said, this round puts the company at greater risk since it typically involves higher valuation, riskier investments and often sells more of its ownership stake.
Other benefits of Series C funding include:
- Having greater financial flexibility and access to more experienced investors who can provide valuable advice on growth strategies, industry best practices and potential pitfalls.
- Strengthening a brand’s reputation as existing investors and potential partners view the successful capital raise as an indication of success and future potential.
- Investing heavily in research & development, sales & marketing efforts or increasing the workforce which can lay effective foundations for further success.
In summary, Series C funding is an exciting milestone for any startup looking to drive growth, scale their business and reach the next level. As such, it offers major financial advantages and increases reputability within the industry which can prove invaluable in the long run.
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