AppMagic, which runs a mobile market intelligence platform, has closed a $3 million Series A funding round led by Cyprus’ GEM Capital. Menlo Park, Calif.-based Vibranium Venture Capital also participated.
The Tampa, Fla., startup was founded by Alexandria, Va.-based Max Samorukov, who previously was a strategic advisor and chief product officer at mobile games publisher Crazy Panda. Samorukov is also the founder of Crypto Rocks in the United Arab Emirates. In April, GEM Capital named Samorukov as an advisor.
Global Expansion
According to PocketGamer, GEM Capital invested $2.5 million in AppMagic, with the rest coming from Vibranium. The Series A funding is to be used for research and development, and to hire sales teams in the United States, China, South Korea and Japan.
Established in 2017, AppMagic is similar to AppAnnie and Sensor Tower, which acquired rival Data.ai in March. It ranks mobile apps, providing granular details on regions, and download and revenue numbers. It reportedly has more than 250 clients, including Google.
“We were impressed with what AppMagic has achieved with just $200K in seed funding. They became the third-largest mobile market intelligence tool by number of clients,” GEM Capital’s managing director, Kirill Gurskiy, told PocketGamer. RoasUp, a Tampa, Fla., firm that created an optimization and automation tool for mobile game marketing, provided the seed funding to AppMagic.
Commercial Real Estate
MacKenzie Companies
Advertising / Media / Communications / Public Relations
Nevins & Associates
Financial Services / Investment Firms
Chesapeake Corporate Advisors
Commercial Real Estate
Monday Properties
Venture Capital
Blue Delta Capital Partners
Internet / Technology
Foxtrot Media
Innovative Product
Samorukov said his company held an advantage over rivals in cost, as well as in the way “we introduce a number of valuable and innovative ways to look at the data, all in a powerful but simple to use UI [user interface].”
Gurskiy said GEM Capital was a user of AppMagic, and considered it 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, he told Venture Beat.
