Embrace – the market leader in application performance management for mobile – announced the close of a pre-emptive funding round of $4.5 Million in additional capital. The round was led by Pritzker Group Venture Capital and witnessed participation from Greycroft, Vy Capital, the founders of Parse and MoPub, Eniac Ventures, and The Chernin Group.
The company plans to use this investment to further its mission of automating the identification of user issues and removing diagnostic inefficiencies for mobile engineering teams.
Embrace provides a comprehensive unified health and optimization platform dedicated to mobile applications. The platform analyzes and replays the details of every single user session to more accurately and quickly detect, diagnose and resolve any user-impacting issues. Since its launch in 2016, Embrace has already grown to support trillions of mobile events from many of the world’s most popular apps, including Home Depot, OKCupid, Boxed, Headspace, GameTime, and AllTrails.
Eric Futoran, co-founder and CEO of Embrace, said: “Each of us, as mobiles users, continues to have poor experiences with our favorite mobile apps, and amazingly there is no efficient feedback loop to developers on which they can quickly prioritize and act. I faced this while helping to build Scopely. We’re excited to already enable companies to identify and respond to issues impacting their market-leading apps. The platform has proven to reduce churn, drive engagement and increase revenues, and we look forward to educating the ecosystem, improving every mobile app, and ultimately making our own experiences so much better.”
Gabe Greenbaum, an LA-based Partner for Pritzker Group Venture Capital, said: “Embrace has an impressive founding team with strong roots in mobile. We saw many organizations trust Embrace’s seamless and innovative optimization platform to quickly identify and resolve any user-impacting issues within their apps, and we’re optimistic about the future of the company in this growing market. We look forward to this next stage in the company’s growth journey and are honored to partner with Eric and Fredric to help them achieve their vision.”
Dana Settle, Founding Partner at Greycroft, said: “Embrace is the company with the best platform and leadership to become the category leader in the rapidly growing, although still young APM market for mobile. The company has the ability to leverage its unique performance technology for the entire mobile industry.”