Real-time competitive intelligence company Apptopia announced that it has closed a $20 million funding round led by ABS Capital Partners.
Existing investors, including Blossom Street, also participated in the round. As part of the transaction, Mike Avon and Paul Mariani from ABS Capital are joining Apptopia’s board.
With this round, the company plans to expand its competitive intelligence market through “investing in ethically sourced data outside of mobile apps”. Founded in 2011, Apptopia has seen a 50% year-over-year growth in revenue in the past three years in a row.
“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.”
Following this round, Apptopia co-founder and COO Jonathan Kay will take place as CEO, and co-founder and CEO Eliran Sapir will transition to chairman of the board.
“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.
“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.”