Dublin-Based Swrve Raises $6.25m In Funding, Will Create 100 Jobs In Dublin
Dublin, Ireland, 12/11/2012 - Swrve, one of the world's leading mobile analytics companies, today announced a funding investment of $6.25m dollars led by Atlantic Bridge Partners and Intel Capital.
The funding puts Swrve in a position to expand its world-class R&D team in Dublin, with over 100 smart-economy jobs to be created over the coming two years. In addition, Swrve will further capitalise on its success in the mobile gaming sector and expand its product portfolio into other global vertical markets.
As the first company to offer a complete mobile app analytics and testing platform, Swrve is already used by some of the world's largest games publishers - handling the data of over 5 million players every day. Building on that success, the company is focused on claiming a substantial share of a market forecast to be worth over $2bn by 2015.
"This funding round puts us in an outstanding position for growth", said Hugh Reynolds, CEO, Swrve. "We already have a number of blue chip clients experiencing outstanding ROI from our product - further evidence that Irish-based talent is more than capable of taking on the world. Our team in Dublin already consists of the brightest and best - we just need more of them. A lot more."
"We have been hugely impressed by what the Swrve team have achieved to date", commented Brian Long of Atlantic Bridge. "We know the team and know the heights they can reach. They have tapped into a massive market opportunity with an amazing platform, and have already successfully validated the service with some of the largest players in the industry. Our decision to invest was an easy one and we are looking forward to supporting the team in creating something truly world-class."
"We have a long association with the founders of Swrve, and are delighted to have the opportunity to show our continued support by participating in this funding round" said Lisa Lambert, vice president of Intel Capital, managing director of the Software and Services sector. "Analytics are a key element of the modern application landscape and we expect mobile application developers as well as online-game and in-app store operators to find increasing value in Swrve's analytics services."
Swrve is the world's first mobile app optimization platform.
For mobile app and game owners looking to increase acquisition, retention and monetization rates - Swrve can help. Because in addition to class-leading analytics and segmentation capabilities, Swrve enables A/B testing of app elements on the fly. Our customers don't have to guess what's going to work - they know.
Swrve is used by some of the world's leading app and games developers. They use Swrve to go beyond 'dumb analytics' and optimize using a 'test and target' philosophy that brings real data to the challenge of producing world-beating apps.
In addition to this new investment round, Swrve backers include SV Angel, the founders of Mochi Media (Jameson Hsu and Bob Ippolito) as well as two co-founders of Playfish, Sami Lababidi and Shukri Shammas. Other investors include the AIB Seed Capital Fund Limited Partnership, ACT Venture Capital, Delta Partners, Enterprise Ireland and other angel investors.
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