Vienna, 27th January 2022 - App Radar, the app store marketing platform, has landed a 2 million Euro investment from Austrian VC firms eQventure, aws Gründerfonds and its previous investors.
App Radar, which last year acquired Spanish app store optimiser TheTool, will use its investment to expand its presence in major European markets and expand its product offering.
App Radar optimises app store appearances and supports app marketing with targeted market analysis. Big data, AI-guided workflows, and easy-to-understand dashboards are used to increase visibility, engagement, and conversion. Currently, more than 1,000 customers in 100 different countries are already using this solution. Since then, App Radar has helped drive downloads for customers such as Runtastic, marktguru, DEGIRO, Outdooractive and Kolibri Games.
Thomas Kriebernegg, MD and co-Founder of App Radar, said: “There are around 5.7 million different apps in app stores, and around 4,000 more apps come onto the market every day. In such an incredibly competitive sector, good marketing can be the difference between success and failure. We have had a lot of success helping our clients gain this competitive edge - especially when they enter new markets. With this funding, we will be able to create one of the world’s first one stop shop for every app marketing need and rapidly expand our presence in a number of major European markets.”
Christoph Haimberger, Managing Director at aws Gründerfonds, says: "Smartphones are conquering the world. Mobile Internet use has long been the most important source of information and media for companies as well as users. A global opportunity for which App Radar has created a convincing technology. Together, we will drive internationalization."
Christopher Raithle, the responsible Investment Associate at aws Gründerfonds about App Radar: "In a fast growing market, App Radar has already established itself as a leading global ASO/ASA provider due to its clear USPs through its App Store Optimization and Advertising SaaS platform. Due to the high quality of the product as well as the team, App Radar has been able to build impressive traction in a short period of time, which we intend to further promote through our investment. We are convinced that the funding round together with App Radar will allow us to develop the product faster into a global one-stop-shop for app marketing and to exploit the market potential faster than planned."
Michael Müller, eQventure Senior Partner: “We support App Radar as an initial investor and are excited to be part of this growth round. The app market continues to show strong growth and App Radar has managed to take a leading position in SaaS based optimization over the last years. Especially the Big Data analytics and AI-based recommendations are models eQventure is very happy to invest in and actively accompany them on their internationalization.”
About App Radar Software GmbH
App Radar enables best-practice marketing for all businesses with apps. It empowers app marketers to reach more users through organic and paid user acquisition, by combining simple analytics and standardized marketing workflows. The international team of App Radar is working with customers like Runtastic, marktguru, DEGIRO, Outdooractive and Kolibri Games.
App Radar is an app marketing company founded in 2015 in Austria by Thomas Kriebernegg and Christian Janesch. App Radar is managed by Thomas Kriebernegg, Silvio Peruci and Michael Müller.
About aws Gründerfonds
aws Gründerfonds is an Austrian venture capital company and has equity capital of around 70 million euros at its disposal. The investment focus is on Austrian startups with high growth potential for seed and follow-on financing in the start-up and early growth phase (Later Seed and Series-A). Co-investors from the international network are actively involved. The aws Gründerfonds sees itself as a long-term, stable partner and offers entrepreneurial venture capital with active support. So far, together with co-investors, more than 499 million euros have been invested in 41 investments in the areas of digital, deep tech & industry and life science, and numerous exits have been successfully completed.
Founded in 2014, eQventure is one of Austria’s leading venture capital firms with hubs in Austria, Germany, UK, Israel, USA and China. In addition to growth capital, eQventure provides young high-tech companies with a strong global network and operational support aimed at accelerating their growth. Behind eQventure are several successful entrepreneurs who invest their own money and expertise in addition to taking a hands-on role with their portfolio companies. The European Investment Fund leverages all eQventure high-tech investments with its European Angels Fund.
aws Fondsmanagement GmbH | Gründerfonds
Mag. Manuela Halada
T +43 1 501 75-721