They say that good things come in threes: It may have been for this reason that the investment firm eQventure announced the third investment after USound (17.7 million EUR) and eyeson (3 million EUR). In this new round the App Radar, lead by CEO Thomas Kriebernegg from Graz, received 1 million EUR. Aside from an FFG grant, eQventure is the main investor, with a 50 percent share. The fresh money will be put into product development and internationalization. The Graz startup specializes in App Store Optimization (ASO).
A leg up for apps
eQventure and Business Angel Michael Altrichter have been on board since 2016. Together, eQventure and Altrichter now hold just over 50 percent of the company. Two years ago, the two investors put a small six-figure amount into the company. The system behind ASO is using keywords to help Apple App Store or Google Play Store users find apps faster. This in turn provides downloads that can make apps move up the rankings.
App Radar has helped create around 100 million downloads for customers such as iTranslate, Kolibri Games, Tivola Games or NerByte, not to mention Tinder or Chinese QQ. Currently the company's CEO Thomas Kriebernegg leads a team of 17.
Radar for optimization and Annie for market research
App radar wants to bring a new feature this year, which will show which keywords cause which app installations. "For the product, we are fully committed to optimizing keywords. We're less market research and more real optimization, and that's how we position ourselves" says Kriebernegg. This is different form their second product, AppAnnie, which specializes in market intelligence data.
Read the full article on trendingtopics.com (in German).
Photo: Thomas Kriebernegg, CEO of App Radar and team (Facebook)