07/11/2024
AppMagic secures $3 million investment to put into international sales teams
AppMagic, a service used to determine the market for mobile apps and games, has raised $3 million in a new round of seed funding.
The bulk of it ($2.5 million) comes from Gem Capital, a Cyprus-based company that's previously aided developers like Mundfish and Sad Cat Studios. With the funding, AppMagic plans to build out staff for international territories.
Per the press release, that expansion will involve dedicated teams recognizing the "specific sales approaches" for the US, China, Korea, and Japan.
Gem managing director Kirill Guskiy explained the firm was impressed with AppMagic growing into "the third-largest mobile marketing intelligence tool" by client numbers. The funding was also spurred by fellow analyst tool Data.ai being acquired by Sensor Tower in March.
