17. October 2013–
AppLift, the mobile games marketing platform from Berlin startup-turned-incubator Hitfox, has raised $7m in funding from Prime Ventures and pulled two ex-Rocket Internet managing directors on board. It's the second investment in the company this year for Amsterdam-headquartered Prime Ventures: In June, it provided AppLift with $13m in Series A financing.
Coinciding with the news, AppLift announced that Dr. Hendrik Harren, who cofounded six Rocket Internet companies including Nigeria's Jumia, will be its new Managing Director and COO. Stephen Chung, formerly responsible for Rocket Internet in Hong Kong, will take the role of Managing Director for Asia.
The company said in a statement it would use these hires and funding to accelerate global expansion, particularly in the Asian market, and hire more talent in tech, product and business development.
Prime Ventures partner Roel de Hoop said: “AppLift has over-performed significantly since our initial investment. The company has a world-class team in a fast-growing market. We are happy to support their fast growth, not only with our expertise but also with additional capital.”
AppLift CEO Kaya Taner claimed that after closing their Series A round the company was approached by investors for follow-on rounds but chose Prime Ventures as the two had been successfully collaborating since it invested. Headquartered in Berlin, in the past year AppLift opened offices in San Francisco and Seoul and is working with over 100 games publishers including King, Wooga and EA.
Part of the investment will go to AppLift's majority shareholder, Jan Becker's HitFox Group, which means the incubator's AppLift shares will be reduced. HitFox will use the funding to boost its portfolio by cofounding more ventures. Beckers recently swapped shares with several of the group’s investors to increase his ownership of HitFox ahead of an anticipated high-growth period – the incubator is likely to already have new ventures in the works.
For related posts, check out:
- Hitfox venture AppLift takes $13m from Prime Ventures to fuel global expansion
- “I won’t discover the next Google. I just want to execute well every day” Jan Beckers – the poster-boy for German pragmatism
- Germany’s Hitfox expands games empire to San Francisco and Paris