AppMagic Secures $3m Investment

Investments

23 July 2024 14:26

AppMagic, founded in 2016 by Max Samorukov, has secured $3m in a Series A funding round led by GEM Capital, with a $2.5m investment, and additional funding of $500m from Vibranium. The company specializes in providing comprehensive data insights for apps and games, encompassing revenue and download estimates, app rankings, global and regional market analysis, ad intelligence, and live operations analytics.

According to the release, the funding will primarily support AppMagic's research and development efforts to enhance its platform with new features. Additionally, the company intends to expand its presence by establishing dedicated sales teams in key app markets across the US, China, South Korea, and Japan.

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Max Samorukov, who previously served as Chief Product Officer at mobile games publisher Crazy Panda, leads AppMagic. GEM Capital MD Kirill Gurskiy stated “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.”

Tags: AppMagic

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