Exciting news for the Los Angeles Tech scene last week as Apptopia closed a $1 million dollar round of funding. The Santa Monica and Boston based online marketplace for mobile apps had their recent round led by none other than Mark Cuban. Of the one million raised Cuban himself invested $500,000 showing his excitement and belief in the booming company.
Apptopia has been making splashes in the startup world since their launch. They’ve had extensive growth doubling the amount of apps sold month over month for the first three months since launch. With such growth the numbers speak for themselves – 25,000 apps sold in month one, 50,000 apps sold in month two, and are on track for near 100,000 apps sold!. Coinciding with that growth, Apptopia sellers have seen acquisition amounts of all ranges including the sale of a single application upwards of $15,000.
Last week’s raise marked the second round of funding for Apptopia. As they’ve been bootstrapped by the founders, Jonathan Kay and Eli Sapir , but also raised an initial seed round of $110,000 from Ryan Melohn of Expanison VC. Bringing their total raise amount to around $1.4 million.