Kovalee, a framework for creating mobile apps, has just received €8 million for growth. The Paris-based business aids in boosting app store results and boosting the success of app developers.
The new funding will expand the young team’s R&D and hire mobile specialists and developers for tech creation.
The market for smartphone apps is still expanding. It’s a sizable market that caters to various demographics, market segments, and hobbies. Apps are becoming more and more popular, and there is increasing competition among app developers to stick out from the crowd.
Kovalee aims to give creators a competitive edge so they can stick out from the crowd. To support the goal, the startup recently closed an €8 million Series A funding round.
Through its digital venture fund, IRIS, Breega, and Bpifrance led the financing effort. Other participants included Alan Fung, Alexandre Berriche, and Sequoia Capital scout.
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Gil Doukhan, a Partner at IRIS, adds: “Except for a happy few, most apps are not lucrative because it is nearly impossible to amass the complete set of skills required to achieve the top places in stores. It was a no-brainer to fund Kovalee, a data-driven team that shines at scaling apps to offer this service to others after doing so before by establishing a leader in the gaming industry.
Kovalee, a 2020 startup, uses AI, ML, and its own unique prediction and automation technology to improve the development of non-gaming mobile apps. According to the startup, it can turn any software into “a worldwide leader” in its particular category.
The publishing strategy of the startup is built on long-term profit-sharing alliances with app developers. Kovalee offers tools and knowledge for app growth, allowing creators to focus on content creation. This involves monetization, app store optimization (ASO), user experience (UX), and user acquisition (UA).
Kovalee has inked 20 contracts with partners around the world since its launch. The company has gained a reputation for delivering on its promises. For instance, some customers experienced a rise in ARR from $0.2 million to $2 million+ in under a year, and the company has also placed several apps among the top 50 in various app store categories in less than six months.
“We’re pleased to see that several apps developed by small businesses and distributed by Kovalee became #1 globally in their industries, defeating giants,” said Vincent Hart de Keating, CEO of Kovalee. We’ll use funds to boost tech and expand the model to more promising applications. It’s time to restore authority to capable app developers.
