Mobile app networking technology PacketZoom today announced that it has raised $5 million in a Series A funding round led by Baseline Ventures, and with participation from First Round Capital, Tandem Capital and Arafura Ventures.
PacketZoom will use the funds to boost the development of its Application Performance Management and Optimization (APMO) platform. In addition, the company plans to expand its business internationally, establishing additional presences in Southeast Asia, Europe and Latin America.
“PacketZoom has proven to be an innovator in mobile app performance, a segment where we have not seen much innovation in years,” said Steve Anderson, founder of Baseline Ventures. “The company has demonstrated consistent growth and positioned itself as a market leader in mobile app networking.”
The announcement follows the launch of PacketZoom’s Mobile IQ – a free mobile APM tool that can be bundled with the company’s Mobile Expresslane as a single SDK to create a Mobile Application Performance Management and Optimization (APMO) platform – the first of its kind.
Mobile IQ lets developers analyse and troubleshoot their app performance. Mobile Expresslane on the other hand provides optimization by combating speed network errors. PacketZoom says that its platform also decreases infrastructure and CDN costs.
Shlomi Gian, CEO of PacketZoom, explains:
“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.”
PacketZoom has enjoyed notable growth in 2017, launching its Southeast Asian office in June this year followed by partnerships with Sephora, Inshorts and NetMeds to double app speeds and rescue 60% of session disconnects.
In addition, the company recently added Belcorp as a client in South America and improved its app response time by 75%.