AppMagic raises $3 million in Series A funding to expand global presence

Mobile market intelligence platform AppMagic has raised $3 million in a Series A funding round led by GEM Capital, which invested $2.5 million, with the remaining $500,000 coming from Vibranium. The latest funding round is poised to accelerate AppMagic’s product development and global expansion efforts.

“AppMagic remains committed to developing a user-friendly, full-spectrum toolset for mobile app market research,” stated 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.”

With these new funds, AppMagic plans to establish dedicated sales teams in key markets, including the United States, China, South Korea, and Japan. The company believes that these localized sales teams will significantly boost its market share in these crucial regions, allowing for more personalized and effective customer engagement.

Founded in 2016 and launched in 2018 by former Crazy Panda CPO Max Samorukov, AppMagic has rapidly grown from its humble beginnings. The Tampa, Florida-based company initially raised $200,000 in seed funding from performance marketing firm RoasUp in 2020. Despite the modest initial investment, AppMagic has achieved remarkable growth, becoming the third-largest mobile market intelligence tool by the number of clients.

This $3 million investment comes on the heels of Sensor Tower’s acquisition of its rival, Data.ai. AppMagic aims to capitalize on this market shift by attracting clients seeking a more user-friendly and cost-effective alternative. The company’s suite of proprietary tools, including its Success Meter and Live-Ops features, offers developers a comprehensive understanding of the market landscape, helping them to optimize their apps’ performance and user engagement.

“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.”

The relationship between GEM Capital and AppMagic extends beyond financial investment. In April 2024, the venture capital fund named Max Samorukov as an advisor, further cementing their commitment to the company’s growth and success.

With the new funding, AppMagic is well-positioned to enhance its product offerings, expand its global footprint, and continue supporting the mobile app development community. The company’s dedication to providing flexible pricing and rich functionality ensures that it remains accessible to both large enterprises and smaller developers, fostering innovation and growth within the industry.