Mobile app data platform AppMagic has raised $3 million Series A funding round. GEM Capital led the round with its $2.5 million investment. Vibranium also participated, contributing the remaining $500,000.
“AppMagic remains committed to developing a user-friendly, full spectrum toolset for mobile app market research,” said 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 use these new funds to build out dedicated sales teams for the U.S., China, South Korea and Japan. The company hopes these localized sales teams will help them gain market share in these key regions.
Samorukov, formerly the CPO of Crazy Panda, founded AppMagic in 2016 and launched in 2018. The Tampa, Florida-based company raised $200,000 in seed funding from performance marketing firm RoasUp in 2020.
This $3 million investment in AppMagic comes just months after Sensor Tower acquired fellow rival, Data.ai. The company hopes to acquire clients that are looking for an easier-to-use or more affordable alternative.
In addition to its directly competitive offering, AppMagic boasts several proprietary tools to help mobile app developers succeed. These include its Success Meter and Live-Ops tools to help developers better understand the market landscape.
“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,” said 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 existing relationship. In April 2024, the venture capital fund named Samorukov as an advisor.
Source: https://venturebeat.com/games/appmagic-3m-series-a-gem-capital/