Apptopia raises US$ 20M

Boston-based Apptopia, a startup providing competitive intelligence in the mobile app industry, raised US$ 20 million in Series C funding on 11 May 2021.

Investors: The funding round was led by ABS Capital Partners, with participation from existing investors, Blossom Street Ventures, ABS Capital’s Mike Avon, a co-founder of Millennial Media, and Paul Mariani, will join Apptopia’s board with this round.

Purpose of the funding: The funds raised will be utilized by the company to accelerate its expansion beyond the world of mobile apps.

About Apptopia

Apptopia

Founded in 2011 by Eliran Sapir and Jonathan Kay, Apptopia provides services in-app analytics, data mining and business intelligence for the mobile industry. Its main platform called Insights uses big data technologies to collect, measure, analyze and provide user engagement statistics for mobile apps. It helps its customers to deep dive into the specific details of their digital engagement and interactions. Brands can even get to know how well a competitor’s promotion fared in terms of new users or app sessions, along with answers to specific questions like how many unique users participated, whether those users were existing customers, whether they returned after the promotion ended, and so on.

Some of Apptopia’s notable customers include Google, Visa, Coca-Cola, Target, Zoom, NBC, Unity Technologies, Microsoft, Adobe, Glu, Andreessen Horowitz and Facebook.

Apptopia uses data sets from various sources for a more accurate understanding of the competitive landscape. Apptopia’s competitors like Sensor Tower and App Annie use mobile panels to gather app data, among other methods. These panels involve consumer-facing apps like VPN clients and ad blockers, which users would download. The app data industry’s open secret was exposed to consumers, which has led to controversy concerning privacy issues.

Apptopia, however, decided not to grow its business on the back of mobile panels. It gains access to the data from its app developer customers, which is already aggregated and anonymized from the developers’ Apple and Google Analytics accounts. This did put the company at a disadvantage.

The rival companies had more accurate data at their disposal. Apptopia spent years investing in data science and algorithms, figuring out how to extract an equal or greater signal from the same data set that competitors had access to. “A lot of people still think an app’s rank is largely determined by downloads, but there are now a variety of signals that inform rank. Really, a rank is just an accumulation of analytical data points that Apple and Google give points for. Because we didn’t have these panels, we had to spend years figuring out how to do reverse engineering better than our competitors. And, eventually, we figured out how to get the same signal that they could get from the panel from rank. That’s what allowed us to have such a fast-growing, successful business over the past several years.” – said Jonathan Kay.

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Komal writes about the startup ecosystem on VCBay. She is an Economics Hons. graduate from Miranda House, Delhi University, and is passionate about the world of entrepreneurship and finance.

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