Apptopia, the mobile app intelligence provider has raised $2.5 million in its second round of seed funding led by Sound Ventures. It has brought Apptopia’s total funding to $5 million. The company has planned to utilize these funds to make better products with more intelligence and create the next generation platform. Other participants in the round included previous investor Mark Cuban, 500 Startups, RTA Ventures, Full Tilt Capital, Telegraph Hill Capital and Expansion VC.
“There’s so much opportunity in this space still. Our goal is to bring more transparency to the app ecosystem and make it easier for people to both enter and succeed,” said Eliran Sapir, CEO, Apptopia.
Apptopia was founded in 2012 by COO, Jonathan Kay and CEO, Eliran Sapir. It claims to have reached $5 million in annual run rate in May 2014 and is planning to double its workforce to 42, primarily focusing on hiring product and sales personnel in its Boston,Kiev, and Ukraine offices. In January, it plans to focus on making its data actionable.
“We’ve seen tremendous growth over last year, tripling annual recurring revenue since the beginning of 2016. Not only is the sales growth incredible but we’re honored that it comes from all-star customers such as Google, Pinterest, Facebook, NBC Universal, Philips, Deloitte, Telerik, Fyber, Airpush, Chartboost, Startapp, SendGrid and many more,” said Sapir.
“Some things just make sense. In this day in age, companies cannot afford to make decisions without insight and intelligence, especially in ultra-competitive markets like the app economy,” said Guy Oseary, Founder, Sound Ventures.
“More than the product though, I always say I like to invest in relationships and people. It’s so important to have the combination of passion and vision that Eliran and Jon possess,” he added.