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June 10, 2013

youAPPi Raises $1M from Glilot Capital Partners

Israeli-based youAppi, an app distribution company, has raised $1 million from venture capital firm Glilot Capital Partners, which is also based in Israel.

The money will be used to extend the new company’s matching and mobile app recommendation algorithms, and also expand its marketing and sales efforts.

youAPPi’s platform matches mobile apps to appropriate users.

Glilot Capital Partners focuses on seed money and early stage investments. It targets Israeli startups in software, cyber and IT security, Internet, and mobile applications. As part of the deal, Glilot will provide its expertise to youAPPi.

“We believe that youAPPi has developed a disruptive technology that solves the two most critical issues within the mobile ecosystem,” Kobi Sambourski, co-founder of Glilot Capital Partners, said in a recent statement. “It allows mobile publishers to gain much needed revenues while increasing user engagement and providing the most effective distribution channel to apps developers.”

The need for the product is there. Portio Research predicts that some 82 billion mobile apps will be downloaded during 2013, globally. By 2017, there will be more than 200 billion downloads of mobile apps per year – worldwide, the study said.

“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,” Moshe Vaknin, CEO of youAPPi, added in the statement. “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.”

Last year, youAppi raised $1 million in seed funding from angel investors.

In its report on the seed funding, TechCrunch stated that “youAPPi’s smartAPP technology is aimed at users, publishers and app developers. It covers iOS, Android and Windows mobile operating systems and web-enabled devices including phones, tablets, computers and TVs.”




Edited by Alisen Downey


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