apprupt closes financing round with Deutsche Telekom, Neuhaus Partners and KfW. apprupt will use the additional funding to further accelerate the growth and international expansion of its mobile affiliate network.
Hamburg, May 6, 2010 - apprupt (www.apprupt.com), the first affiliate network for mobile applications, announced today the closing of a financing round with the Connected Life and Work Fund managed by T-Venture, the venture capital firm Neuhaus Partners and KfW. The funding is currently subject to approval by antitrust authorities.
"apprupt has successfully positioned itself in recent months as the leading affiliate network for mobile apps in Germany. Having already been financed in 2008 by Neuhaus Partners, we are pleased to have landed another strong investor with T-Venture, who is significant for us in this market segment," says Jascha Samadi, Director Marketing and Sales. “Together with our investors, we now look forward to future international growth in an exciting and rapidly growing market environment", adds Kjell Fischer, Director Product and Operations.
"We monitor the mobile Internet segment closely and have recognized early on mobile applications as an attractive target segment for us. We firmly believe in apprupt’s technology and the potential to develop the leading position in this rapidly growing market. We are pleased once again to invest in the company as well as the team and to support the further acceleration of growth," says Paul Jozefak, Managing Partner at Neuhaus Partners.
Harald Eisenächer, Senior Vice President Personal & Social Networking of Deutsche Telekom, adds: "Mobile applications are currently one of the fastest growing market segments. apprupt is well positioned with its range of products and services and offers both app developers as well as publishers an innovative and convincing solution."
About Connected Life and Work Fund:
The Connect Life and Work Fund is managed by T-Venture, the venture capital entity of Deutsche Telekom. The goal is to support the Products and Innovation Department at Deutsche Telekom in the implementation of its objectives. The investment focus is on companies in the Internet and media segments. For more information, please visit: www.t-venture.de.
About the KfW Banking Group:
KfW finances and supports, among other things, business start-ups, small and medium-sized enterprise (SME) as well as investments in economic growth and employment projects in Germany. The ERP Start-up-Fund, administered and co-financed by KfW, offers equity financing for innovative, technology-based enterprises with excellent growth prospects. The fund finances research and product development as well as the launching of new products, procedures and services. KfW always cooperates with a lead investor and exclusively adopts market conditions. Since 2004; the 470 Mio. Euro ERP Start-up-Fund has so far allocated 300 Mio. Euro to emerging technology-based companies.
Further details about the KfW Banking group can be found at www.kfw.de.
apprupt (www.apprupt.com) is the first affiliate network for mobile applications. Through its affiliate platform, apprupt enables app developers to market their apps on a on a pay-per-download basis to specific target groups of users within its network of wide-reaching publisher partners - app marketing becomes transparent and performance-based. apprupt enables publishers such as WEB.DE Mobile, FT Germany or Men’s Health through a white label app shop to offer their own users a relevant preselection of apps as well as to monetize mobile traffic through app sales on a transaction basis. The corporate headquarters are in Hamburg, Germany.
About Neuhaus Partners:
Neuhaus Partners GmbH is one of the leading venture capital firms in Europe. It invests primarily in companies in information technology. Since its founding in 1998, it has entered into 53 investments - with 47, Neuhaus Partners was a lead investor. Track record: two IPOs, eighteen trade sales, three buy backs, ten insolvencies. Neuhaus Partners is currently investing its third fund.
Further details regarding Neuhaus Partners can be found at www.neuhauspartners.com.
For further details regarding this press release please contact:
Tel.: + 49 (40) 40 18 50 15
Fax: + 49 (40) 18 51 26
Neuhaus Partners GmbH
Tel.: +49 (40) 355 282 - 0
Fax: +49 (40) 355 282 - 39