HIVE Invests in Inapptics
HIVE is proud to announce our recent investment in Inapptics. Inapptics was founded by Ashot Tonoyan, a serial entrepreneur who in a prior life founded SocialObjects Software that was building high profile apps and grew it to millions in revenue.
Inapptics helps app makers analyze user behavior in their apps. They saw their customers losing users and money due to not being able to understand important aspects of user behavior. Every time a user opens an app and touches the screen, valuable data about how people use the app is not accessible. By simply adding the Inapptics SDK (software development kit) and just one line of code to the app, Inapptics helps app makers collect all that data and analyze with AI in a way humans would do, as if they were standing behind the shoulders of every single user, all the time, watching their engagement with the app. Inapptics provides visual and human language conclusions, not mere metric based reports.
We are excited about our investment in Inapptics for three main reasons.
First, Inapptics is addressing a huge and growing market. There are billions of apps being downloaded every month, yet 90% of apps are used only once and eventually get deleted.
Second, although there are many mobile analytic platforms in the market today, Inapptics offers a differentiated product solution that helps answering questions like:
- What was the user doing before deleting the app?
- What did the user exactly do that made the app crash?
- Is the app being used as intended during design?
- What are the actual user journey funnels?
- What are the UI elements the user does not notice/use?
Finally, Inapptics had been offered a term sheet by a venture fund in Portugal, contingent on the company moving to Portugal. Thanks to HIVE’s investment, Inapptics was able to keep all operations in Armenia and grow its current full time team of 4 top engineers. They are still hiring and open positions are listed here: https://staff.am/en/company/inapptics
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