Mobile app development platform, Kovalee, has just secured €8 million to expand. The Paris-based company helps app creators supercharge their success and boost app store rankings.
The mobile app market is continuing to grow. It’s a massive market, tapping into different geographies, segments and interests. While the popularity and demand for apps continue to grow, the competition for app creators to stand out from the crowd has gotten tougher and tougher.
Paris-based Kovalee wants to help creators gain a competitive edge, empowering them to stand out from the crowd. The startup has just secured €8 million in a Series A funding round to fuel the mission.
The funding was led by IRIS, alongside Breega and Bpifrance, through its digital venture fund, with the participation of individuals including Alan Fung, former Director of Performance Marketing at King and Alexandre Berriche, co-founder and CEO of Fleet and Sequoia Capital scout.
Gil Doukhan, Partner at IRIS, adds: “Except for a happy few, most apps are not profitable because gathering the full set of necessary skills to reach top positions in stores is almost impossible. Financing Kovalee, a data-driven team which excels in scaling apps to provide this service to others, while already having done it before by creating a leader in the gaming space, was a no-brainer.”
Founded in 2020, Kovalee leverages AI, ML and its proprietary prediction and automation technology to enhance non-gaming mobile app creation. The startup claims it can transform any app into ‘a worldwide leader’ in its respective category.
The startup’s publishing model is based on long-term profit-sharing partnerships with the app creators. While app creators focus on content, Kovalee brings to the table all the tools and expertise necessary to scale an app during its lifetime. This includes User Experience (UX), User Acquisition (UA), App Store Optimization (ASO) and Monetization.
Since its launch, Kovalee has signed 20 contracts with partners across the globe. It’s also developed a quick reputation for being able to deliver on its commitments – some clients have seen ARR increase from $0.2 million to $2 milion+ in less than a year, and, it’s placed several apps within the top 50 across many different app store categories in less than 6 months.
With this new investment, the young team will expand R&D efforts in the development of its in-house tech as well as onboard mobile experts and developers.
Vincent Hart de Keating, CEO of Kovalee: “We’re proud to see that several apps created by small companies and published by Kovalee became #1 worldwide in their fields, beating giants. Thanks to this fundraising, we’ll double down on our tech to offer the publishing model to more and more apps with great potential. It’s time to give the power back to talented app creators”
