Guy Oseary and Ashton Kutcher's tech investment firm Sound Ventures has led a $2.7 million round of seed funding for a mobile app insights company called Apptopia. The round, which also included contributions from Mark Cuban, RTA Ventures and others, brings Apptopia's total funding to $5 million since 2014.
Apptopia generates data insights on app store downloads and revenue, and is used by mobile publishers, developers and others to help analyze/monitor competitors and to pinpoint emerging trends. CEO Eliran Sapir said the firm has tripled its annual recurring revenue since the beginning of 2016. Clients include Google, Pinterest, Facebook and NBC Universal.
"Some things just make sense. In this day in age, companies cannot afford to make decisions without insight and intelligence, especially in ultra-competitive markets like the app economy," said Oseary, who manages Madonna and U2. "More than the product though, I always say I like to invest in relationships and people. It's so important to have the combination of passion and vision that Eliran and [COO] Jon [Kay] possess."
Kutcher appeared on Recode Decode, a podcast hosted by executive editor Kara Swisher, in October to discuss his investment strategies and his enduring confusion over Snapchat.
Apptopia has 42 employees and has offices in Boston and Kiev, Ukraine. According to Sapir, the new infusion of cash will be used for product development. "Our goal is to bring more transparency to the app ecosystem and make it easier for people to both enter and succeed," he said in a statement.
Sound Ventures' other investments include OpenGov, GrubMarket, Mark43 and Fundbox, according to Crunchbase.