Category Archive: App Deals

Ben Heathcote

In App Deals

February 26, 2017

Android Street

App-only bank Monzo has raised £19.5 million in funding and is hoping to secure a further £2.5 million to expand its team and launch its free current account in the UK. The Series C round was led by New York’s Thrive Capital, a backer of Instagram and Spotify. Passion Capital, an early backer of the startup; and Orange Digital Ventures, the venture capital arm of telecoms network Orange, also participated. The latest funding round values Monzo at approximately £65 million. Monzo plans to raise the additional £2.5 million – to bring the total to £22 million – through an equity crowdfunding round on Crowdcube, a year after raising £1 million in approximately 96 seconds following massive demand from investors. The digital-only bank is currently operating as a pre-paid

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Ben Heathcote

In App Deals

February 26, 2017

SurveyMe

Cheshire-based mobile survey app SurveyMe has closed a £2m equity funding round in partnership with Deepbridge Capital. The money was raised through the investment manager’s Technology Growth Enterprise Investment Scheme (EIS) proposition. SurveyMe describes itself as the only free mobile survey app which instantly rewards users with discounts or coupons from local businesses, enabling companies to quickly capture bespoke, real-time consumer and employee feedback for business intelligence purposes. The app is now being used in over 250 cinemas in 29 US states and by a wide range of other businesses in 159 countries. The funding has enabled Stockport-based SurveyMe to open an office in California as part of a strategic move to target the US market as well as fund opportunities to establish key partnerships in

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Ben Heathcote

In App Deals

February 22, 2017

Fitard

Health and weight loss coaching app Obino has acquired rewards-based fitness app Fitard, based in Mumbai, for an undisclosed amount. The company said the acquisition of Fitard is in line with its strategy to remain “lean and agile” in India’s competitive fitness and health industry. Fitard is a ‘gamified’ health and fitness mobile app which motivates users to adopt a healthy and active lifestyle by rewarding them. Users can track their daily steps, earn Fitard Coins (points) and redeem them for exclusive rewards. The app, which went live in Mumbai in January 2016, also allows people to compete with friends, family and colleagues in challenges. According to Manna Healthcare, the company behind Obino, the acquisition disrupts the health and weight loss industry by “placing greater emphasis on

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Ben Heathcote

In App Deals

February 22, 2017

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Mental health technology innovator Pacifica Labs has closed an undisclosed funding round led by LEO Innovation Lab, HealthX Ventures and Personal Health Solutions (PHS) Capital, and unveiled the latest version of its Pacifica mobile app. Pacifica, available for both iOS and Android devices, is self-help app for managing stress, anxiety and depression. The updated app provides users with psychologist-designed tools to manage their stress, anxiety and depression using cognitive behavioural therapy (CBT), mindfulness meditation, relaxation and mood/health tracking. In just over two years, it has attracted more than 1.25 million registered users, according to the San Francisco company. Dale Beermann, chief executive and co-founder of Pacifica Labs, said: “As Pacifica continues to resonate with consumers, the missing piece has been the ability for clinicians to

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Andy Boxall

In App Deals

February 20, 2017

realface

Apple may have acquired Israeli facial recognition technology startup RealFace, according to a report from local news source Calcalist. The acquisition hasn’t been announced by either company, so is still unofficial, but the report states the deal is about to be completed, and is worth, “Several million dollars.” RealFace creates a secure identification system which uses facial recognition rather than fingerprints or passwords. Although the company has released an app in the past — Pickeez, which helps select the best photos across various social media platforms — its technology isn’t aimed at the consumer. Developers have been able to purchase the system for use in apps, taking advantage of RealFace’s deep learning technology to increase accuracy. Apple doesn’t always go on to use technology it

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Ben Heathcote

In App Deals

February 19, 2017

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Virtual reality software company 8i has raised $27 million in funding to support the launch of its new mixed reality app Holo in 2017. The Series B funding round was led by Time Warner Investments, with participation from Baidu Ventures, Hearst Ventures, Verizon Ventures, One Ventures, Seed & Speed Ventures and existing backers. Holo is a mobile app that allows people to create mixed reality content with holograms of their favourite celebrities, brands and characters. Users can add holograms to their real-world environments and take videos and photos they can share with friends across their social channels and messaging apps. Holo also provides a way for influencers across entertainment, music and sports to reach and engage their audiences, as well as drive a new form of user generated

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Ben Heathcote

In App Deals

February 19, 2017

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Wheel, a social media app which allows users to share Snapchat-style video clips, has been acquired by dating app Tinder. The terms of the deal were not revealed, but Tinder said it plans to integrate video features into its app in the future. The Los Angeles startup was originally founded in 2015 under the name Ferris, with the idea of creating a platform that would allow people watch and share videos with their friends. As part of the deal, Wheel’s chief executive Paul Boukadakis will be joining Tinder as vice-president of special products, while chief technology officer Chris Shaheen will take up a senior position in Tinder’s engineering team. Co-founders, Joey Boukadakis and Brian Daugherty, will also join Tinder. Brian Norgard, Tinder’s head of product and revenue, said:

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Ben Heathcote

In App Deals

February 19, 2017

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Virtual nurse app Sensely has closed an $8 million Series B financing round led by Chengwei Capital with participation from Bioveda Ventures, Fenox Venture Capital, Mayo Clinic, and Stanford StartX. The startup said the funding will accelerate its mission to provide efficient and affordable care to people around the world by utilising artificial intelligence and machine learning tools. The capital raised will also allow Sensely to expand its presence in the US, UK and international markets. Described as “a cross between WhatsApp and Siri that captures all the important signals about a person’s health”, Sensely’s app provides users with immediate access to clinical services, patient engagement and chronic disease monitoring. Sensely founder and CEO Adam Odessky said:  “With the world facing a shortage of nurses and

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Andy Boxall

In App Deals

February 17, 2017

Replyyes

Mobile messaging engagement platform ReplyYes has completed its Series A funding round, in which it raised $6.5m. The round was led by Madrona Venture Group, Cross Culture Ventures, Lowercase Capital, Muse Capital, and Arnold Venture Group. ReplyYes is best know for its SMS service where messages give users the chance to instantly buy vinyl records. The service, called The Edit, started 18 months ago and has seen more than 100,000 sales since then. Dave Cotter, ReplyYes’s CEO, said: “The ReplyYes mission is to help people discover and purchase the things that they love. Our platform enables brands to engage and transact with their customers where they increasingly are – on their mobile phones messaging. Through this latest investment, the world’s leading lifestyle brands will be

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Andy Boxall

In App Deals

February 16, 2017

snapchat

Snap Inc, the company behind Snapchat, is preparing for its initial public offering, and is looking at a valuation of between $16.2b and $18.5b according to reports. This is slightly lower than the expected $20b to $25b, which has been rumoured in the past. Snap’s latest filings show it wants to raise around $3.2b from 200 million Class A shares, which will be priced at around $16 each, but may drop as low as $14. Should the sales work out as expected,  co-founder Evan Spiegel and Bobby Murphy’s share will drop from 21.8% to 14.5% of the company. However, they will maintain control. The intention following the IPO is to use around $2.1b for “general corporate purposes, including working capital, operating expenses, and capital expenditure,”

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