United Ventures backs AppsBuilder

The VC joins the firm's existing backers including Vertis Venture, Zernike Meta Ventures and several business angels.

The latest funding round will enable the company to grow in the US and the UK markets, which account for more than 50% of AppsBuilder's business. The company will increase its recruitment effort to support the growth plans.

Vertis, Zernike and business angels committed €1.5m to the firm in October 2012, according to unquote" data. The funding round was designed to support the internationalisation of the firm, which now operates in the UK, the US, Brazil and Italy.

Company
Founded in 2011 and based in Milan, AppsBuilder has developed a mobile publishing and distribution platform for apps. The company has also developed analytics, which allow businesses to track app ratings and usage trends to assess the performance of mobile campaigns.

In the last six months, the company has recorded a 40% growth in revenues and has almost one million members across 70 countries.

People
Massimiliano Magrini is co-founder and managing partner at United Ventures.

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• Expansion
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