ASOdesk has raised $1,000,000
We are pleased to announce that ASOdesk has raised its first round of investment in the amount of $1 000 000 for a minority share. Embria was the investor.
The raised funds are going to be used for development of the current product, creation of several high-class products for mobile app marketers in new niches and for business development abroad.
ASOdesk develops professional solutions for mobile application marketing. ASOdesk’s solutions allow for responding to such business matters as the search for application growth points in App Store’s and Google Play’s searches, competitor research, daily mobile app position monitoring on the App Store and Google Play across 100 countries around the world, and many more. Among the company’s clients, you can find ABBYY, Yandex, OneTwoTrip, LovePlanet, Zimad, Kaspersky, and many others
As of today, ASOdesk has over 25,000 mobile app developers from 80 countries registered with the company.
Sergey Sharov, CEO & Co-Founder, ASOdesk
We founded ASOdesk when we were just students at the beginning of the 6th course at Moscow Institute of Physics and Technology (MIPT) – it was our thesis project that grew to become a real business. For four years we were living off our own funds exclusively. We were understanding, however, that in the current stage of development, third-party funds will not really be useful enough.
By mid-2019 we had come to a conclusion that we needed an investor for further support of the necessary product growth that was required by our users and for geographical expansion. At that moment, the company was prepared for investment. ASOdesk is a mature business, it’s not an early-stage startup, we have well-formed processes, business model, strong team, good product, and an understanding of what we need. Furthermore, we understood that we have almost reached the top limit of the CIS market and that reinvestment doesn’t allow us to support the required product and team growth, so investments can be that growth point that will allow our business to enter the international market with a strong product.
Having considered all of the pros and cons, as this was our first experience of obtaining investment, we have come to a conclusion that we don’t just need an investor, but a strong business partner in the first place. On our team, we were lacking competence in business structuring, marketing, and sales abroad, considering foreign market mentality and networking structure. Embria has become the perfect partner for us. Besides the required sum, we also received a strong partner that has relevant experience both in App Business (Playkot, Belka Games, Fotostrana, Wachanga) and in B2B (Propeller Ads, Hypeauditor).
The money we obtained will be used for the active product growth in 2020, team growth, as well as for geographical expansion to Europe and retaining the positions in the CIS.
We always welcome any feedback, with the help of this we can make ASOdesk even better. Just send us a message at firstname.lastname@example.org.