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Mobile market intelligence platform AppMagic has raised $3 million in a Series A funding round.
The company provides a variety of data points for apps and games, including revenue and download estimates, app rankings, global and regional market estimates, ad intelligence in areas such as creatives, live ops analysis, and more.
The funding will go toward research and development for new platform features. AppMagic also plans to establish dedicated sales teams in key app markets in the US, China, South Korea and Japan.
The investment was led by GEM Capital, which invested $2.5m into the company. Vibranium added a further $500k to the round.
AppMagic was founded in 2016 by Max Samorukov, who has previously worked as CPO at mobile games publisher Crazy Panda. The firm initially raised seed funding from performance marketing firm RoasUp. The firm currently has more than 250 clients, including tech giant Google.
“Window of opportunity”
“AppMagic remains committed to developing a user-friendly, full-spectrum toolset for mobile app market research,” said Max Samorukov, 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.”
GEM Capital MD Kirill Gurskiy added: “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.
“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 capitalise on its strengths. We are excited to support Max and his team in this promising venture.”
We’ll be publishing our full interview with AppMagic CEO Max Samorukov shortly.
Earlier this year, Sensor Tower shook up the market intelligence space with the acquisition of its direct rival data.ai. We spoke with Sensor Tower COO Tom Cui about why it made the acquisition on what it means for both the company and the industry.
