Apptopia Raises $20 Million In Series C Funding To Source New Connected Device Data
New funding will accelerate company's growth and investment into technology
BOSTON, May 11, 2021 /PRNewswire/ -- Apptopia Inc., the leader in real-time competitive intelligence, today announced the close of a $20 million financing round led by ABS Capital Partners with participation from existing investors, including Blossom Street Ventures. The company has been profitable for the past year while growing revenue 50% year-over-year for the past three years in a row. This new strategic partnership is anchored in scaling the company and growing its addressable market through investing in ethically sourced data outside of mobile apps. The goal of the new data sets is to provide brands with a 360-degree view of consumer engagement on their competition.
Founded in 2011, Apptopia enables brands to analyze critical signals on their competitors across mobile apps and connected devices. While mobile app data has consistently proven to be a strong signal for digital on a whole, the growth in connected devices in our daily lives is undeniable. Apptopia is now in a prime position to provide visibility into consumer behavior across "apps" on any device in the household. We believe deeply that this will unlock insights that answer larger and more impactful questions within our customers' organizations.
In reaching this stage and in alignment with this new direction for the company, Apptopia co-founder and CEO Eliran Sapir is transitioning to chairman of the board, and co-founder and COO Jonathan Kay will take his place as CEO.
"We have seen a burgeoning need for access to a comprehensive, best-in-class competitive intelligence solution across the entire business organization," said Eliran Sapir, co-founder and chairman of Apptopia. "Apptopia is uniquely suited to provide this intelligence and is changing the way businesses understand and engage with customers. The additional capital will enable us to accelerate our current momentum, empowering businesses across the world with the data they need to outsmart their competition in today's digital-first economy."
Transparency and sustainability as it pertains to Apptopia's data collection and estimation are of the utmost importance to the company and its employees. No personal identifiable information has ever been used or collected and the plan is to keep it that way. The company takes pride in this and will continue to invest in technology in order to build its business the right way, keeping its clients unexposed to unnecessary risk.
"As digital continues to be a large part of brand strategy and people's lives, measurement is becoming even more crucial," said Jonathan Kay, co-founder and CEO of Apptopia. "Over the past few years, we've seen the importance in the questions we help brands answer increase dramatically. Seeing where the industry is headed, we have a unique opportunity to become the data intelligence platform with the largest breadth and visibility across all connected devices. ABS Capital's experience, network, and leadership is crucial in achieving this goal."
Apptopia recently launched the first mobile intelligence app in the Bloomberg App Portal on the Bloomberg Terminal, enabling traders, investors, portfolio managers, and chief investment officers to easily access and analyze mobile app data directly within the Bloomberg Terminal.
"We see the financial services sector as a significant growth opportunity for Apptopia as indicated by the early success of its partnership with Bloomberg," said Mike Avon, a managing partner at ABS Capital. "ABS Capital, having successfully invested in a number of SaaS companies over the years, recognizes Apptopia's strong growth as a key indicator of future success." As part of the transaction, Mike Avon and Paul Mariani from ABS Capital are joining Apptopia's Board of Directors.
The company is honored to be named in Forbes' 2021 list of America's Best Startup Employers. Apptopia has also been named to Financial Times' Americas' fastest-growing companies list two years in a row. A portion of the funding will be used to continue to hire top talent as the company scales. Current Apptopia customers consist of hundreds of leading corporations and financial institutions, including Google, Visa, Coca-Cola, Target, Zoom, NBC, Unity Technologies, Microsoft, Adobe, Glu, Andreesen Horowitz and Facebook.
About Apptopia
Apptopia is the leader in real-time competitive intelligence. Brands and financial firms use our platform to generate insights across mobile apps and connected devices. Powered by machine learning technology, we collect and analyze billions of complex data points to surface critical business signals. Leading brands including Visa, Target, and Microsoft rely on Apptopia to better understand consumer behavior and intent across app-based devices to gain a competitive advantage. Financial analysts access our data analytics via the Bloomberg Terminal to generate revenue estimates, monitor consumer engagement across devices, and gain insight into competitive positioning.
Visit apptopia.com or follow us on LinkedIn and Twitter to see our insights.
About ABS Capital Partners
For over 30 years, ABS Capital has been investing in later-stage growth companies, helping CEOs capitalize on new opportunities and navigate unforeseen obstacles – while never losing sight of the ultimate goal of achieving lasting excellence. Our partners have decades of experience as C-level executives, investment bankers, and investors in the industries in which we invest: business and tech-enabled services and health care. This combination of experience and expertise means we have a laser-focus on the specific needs growth companies face as they look to get to the next level. By helping to transform over 130 companies through their most important stage of development, ABS continues to help unleash the potential for lasting growth. ABS Capital Partners. Here, we grow. For more information, visit www.abscapital.com.
Media Contact:
Adam Blacker
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SOURCE Apptopia
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