Led by Baseline Ventures, Series A Round Comes On Heels Of A New Product Launch And Global Business Expansion
Leading mobile speed-as-a-service (MsaaS) PacketZoom has announced that it has raised $5 million in Series A funding. The new funding would enable PacketZoom to scale the development and adoption of its Application Performance Management and Optimization (APMO) platform. The round was led by Baseline Ventures, with participation from First Round Capital, Tandem Capital, and Arafura Ventures.
The company will use the new capital to further expand its scope in re-defining mobile application performance via in-app mobile networking technology.
PacketZoom’s Mobile IQ provides insight into mobile app performance issues, while Mobile Expresslane immediately fixes them: it speeds up mobile apps by up to 3x, rescues up to 90% of network errors and reduces CDN costs. PacketZoom’s customers include mobile game publishers, shopping, travel and news apps.
Recommended Read: Interview with Shlomi Gian, CEO – PacketZoom
PacketZoom Aces Mobile App Publishers’ Operational Challenges
At the time of this announcement, Shlomi Gian, CEO, PacketZoom, said, “Today’s announcement is a testament to PacketZoom’s success. Poor network quality causes mobile app publishers operational challenges and costs them millions in lost monetization opportunities. PacketZoom’s platform is the only solution that’s been designed from the ground up to address these issues. Our platform provides mobile app developers with real-time insights, control and optimization capabilities without needing to make any code changes.”
Shlomi added, “Our vision is to keep leading the mobile app networking market and empower developers with tools to understand, control, and optimize their app performance. We plan to continue investing in Mobile IQ, a free real-time analytics, and control solution, and Mobile Expresslane – a mobile last mile optimization solution that downloads content 2-3x faster and reduces network errors. We plan to continue adding real-time visibility and control features to our platform for free. At the same time, we continue to expand our global reach into Europe, Asia, Latin America and additional mobile-first markets, where there’s an immense need for fast, reliable mobile networks”.
Steve Anderson, Founder, Baseline Venture, said, “PacketZoom has proven to be an innovator in mobile app performance, a segment where we have not seen much innovation in years. The company has demonstrated consistent growth and positioned itself as a market leader in mobile app networking.”
The funding comes on the heels of PacketZoom’s launch of a free Mobile APM tool, Mobile IQ, which is bundled with PacketZoom Mobile Expresslane in a single SDK to create the industry’s first complete Mobile APMO (Application Performance Management and Optimization) platform. Mobile IQ allows developers to analyze, troubleshoot and control app performance, while Mobile Expresslane offers optimization technology that eliminates performance roadblocks such as speed network errors. PacketZoom’s platform also reduces infrastructure and CDN costs significantly.
Series A Funding, A Mega-Push for Hyper-Growth in 2017
PacketZoom has grown internationally throughout 2017 as well. In June it opened an office in Southeast Asia, and more recently it announced partnerships with apps in the region such as Sephora, Inshorts, and NetMeds to increase app speed up to 2x while rescuing more than 60% of session disconnects. PacketZoom also added Belcorp in South America and has improved its app response time 75%, with 86% Network Disconnect Rescue.
The funding will be used to continue the company’s business expansion with additional presence in Southeast Asia, Europe, and Latin America. Together with its China operation, PacketZoom is well positioned to serve app developers in the fastest growing mobile markets. The funding will also enable PacketZoom to fill key positions in its executive team.
Currently, PacketZoom increases mobile app engagement through superior in-app networking technology.
Designed specifically for native mobile apps, PacketZoom’s Mobile APMO (Application Performance Management & Optimization) platform offers an end-to-end solution to analyze, detect and resolve mobile app networking issues in real-time without changing the app code.