Digital startup company PacketZoom completed a successful Series A funding round and raised $5 million. The company is on a growth spree, as it helps publishers boost the performance of their apps. PacketZoom is based out in San Mateo, California, and claims its product removes any roadblocks related to performance of mobile apps on Wi-Fi and cellular networks. PacketZoom also claims to be the only company that delivers an in-app technology specifically for native apps that enhances performance.
The funding was led by investor Baseline Ventures. Other investors who participated in this series A funding were First Round Capital, Tandem Capital and Arafura Ventures. Speaking on this occasion, CEO of PacketZoom Shlomi Gian said, “Today’s announcement is a testament to PacketZoom’s success.”
Elaborating further on the product, Gian stated, “Poor network quality causes mobile app publisher’s 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.”
The company is a four-year-old startup with 18 employees as of August 2017. Before this funding, the company had raised $6 million. It has also opened an office in South East Asia and entered strong partnerships with various publishers in the region.
The current funding will be used to expand the company’s business in South East Asia, Europe, and Latin America. According to the company’s announcement: “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.”