youAPPi has secured USD1m in funding from Glilot Capital Partners, an Israeli-based early stage venture capital firm.
Founded in late 2011, youAPPi resolves the most critical and urgent problem within the mobile eco-system, identifying, matching and connecting the best mobile applications to the most relevant users. youAPPi provides a fully managed mobile application recommendation platform which drives publisher’s revenue and increases mobile users’ engagement.
Glilot is also opening up its professional network and experience to youAPPi, which will augment its investment in the company’s growth. The raised capital will specifically be used to extend youAPPi’s matching and mobile application recommendation algorithms and support marketing and sales expansion.
“We believe that youAPPi has developed a disruptive technology that solves the two most critical issues within the mobile eco-system,” says Kobi Sambourski, co-founder of Glilot Capital Partners. “It allows mobile publishers to gain much needed revenues while increasing user engagement and providing the most effective distribution channel to apps developers.”
The market for mobile applications is expected to continue its tremendous growth in 2013. Portio Research forecasts 82 billion applications will be downloaded worldwide in 2013, and by 2017 there will be more than 200 billion downloads per year.
“youAPPi’s ambitious vision is to change the way mobile users consume mobile applications and at the same time create a new revenue stream for mobile publishers,” says Moshe Vaknin, chief executive of youAPPi. “Our technology intelligently cuts through the glut and noise of the application marketplace, exposing users to relevant apps based on their interests, preferences and in real time context.”
