Localytics, a Cambridge, Mass.-based provider of a mobile analytics platform, has raised $700,000 in first-round funding co-led by Launchpad Venture Group and New York Angels. The company was part of TechStars Boston’s 2009 class, and then was chosen to be an inaugural resident at Polaris Ventures Partners’ Dogpatch Labs in Cambridge.
Localytics announced that it has closed its first round of funding, led by Launchpad Venture Group and New York Angels. This follows the launch of Localytics Enterprise Mobile Analytics, the most powerful and only real-time mobile analytics service for top iPhone, iPad, Android and BlackBerry app publishers. The company will use the funding to expand the services and features of its Community and Enterprise Mobile Analytics services.
“We worked closely with a number of top app publishers for the past year and chose to self-fund the company until we could validate our business model and generate real revenue” said Raj Aggarwal, CEO of Localytics. “With our customer base expanding rapidly and end-user reach growing 50% per month, we’re excited to partner with a strong group of investors who will help fuel our growth.”
Localytics first offered its free, Community mobile analytics solution last year to give Android, Blackberry, iPad and iPhone application publishers real-time reports and the deepest insights into how customers use their apps. App developers and owners use Localytics to track usage and custom events, dynamically generate custom segments and chart results with hourly granularity.
Localytics Enterprise service builds on the Community version, adding support for location services, custom chart templates and export APIs for integrating mobile analytics data with other enterprise reporting packages. Large brands and publishers already using Localytics Enterprise service include CardStar and KAYAK. Localytics Enterprise service is available as a fully hosted or licensed, first-party analytics solution.
Localytics was part of the TechStars class of 2009. “It was clear from the day we met Localytics that they identified a big hole in the market, and assembled a team well suited to tackling it”, said Shawn Broderick, Managing Director of TechStars Boston. After TechStars, Localytics was chosen to be an inaugural resident at Polaris Ventures’ Dogpatch Labs in Cambridge, MA.
Joining the Localytics Board of Directors is Avi A. Fogel, of Majorlee Investments and a member of both Launchpad and NY Angels. Mr Fogel brings with him over 20 years of investment and board experience. As an entrepreneur Mr Fogel has had six successful exits, most recently as Chairman and CEO of ProActivity, which was acquired by EMC.
Localytics offers the most powerful mobile analytics platform, giving mobile app publishers for iPhone, iPad, Android and BlackBerry the tools they need to build more successful and profitable applications. Founded and led by mobile and application analytics experts, Localytics provides the only real-time service, session-level detail and the data access demanded by top mobile application publishers. Localytics is headquartered in Cambridge, MA, USA.
About Launchpad Venture Group
Launchpad Venture Group, founded in 2000, is a Boston-based angel investment group that provides funding to early-stage companies. We look for innovative, technology-driven startup companies addressing a significant market opportunity where an investment can make a difference. Today, Launchpad has over 60 active investors. Members come from a variety of backgrounds and professions, including the technology, financial and service communities.
About New York Angels
New York Angels is an independent consortium of individual accredited angel investors. We provide seed and early-stage capital in the range of $250K-$750K, an investment range not generally served by venture capital funds. Since 1997, members of NYA and the NYNMA Angel Investors Program have invested over $20 million in over 65 ventures in local technology and new media companies.