GetSocial, the company that builds very clever social engagement and data analytics tools for mobile game developers to cut cost of acquisition and increase monetization, announced today that they have raised $2.5 million.
The investment comes from a group of Dutch-based venture capitalists including Astor Participaties, Enabling Technology Fund, Slingshot Capital and Novamedia.
GetSocial's main focus is on the fast-growing $26 billion mobile gaming market.
With an industry average of only 1.7% users being monetized, mobile game developers have shown great interest in GetSocial in their quest to gain deeper engagement and understanding of their players.
"The entire industry has changed, it is harder to gain retainable downloads, increase in app spend, and CPI prices are becoming more and more expensive with no greater results," says founder and CPO Adam Palmer.
"Furthermore adding internal communication to engage players has never been more important to combat this; along with creating frictionless ways to increase organic installs through engaged players.
"We're seeing massive growth in this area and plan to expand this feature to all developers as it's a free service to use.
Adding internal communication to engage players has never been more important.Adam Palmer
We are also very excited to offer developers greater more dynamic ways of increasing their in app revenues this year, and are seeing great results from our first pilot customers"
Quick and easy
GetSocial's fully customizable, data powered social engagement platform gives game developers a tool that drives in-app marketing and purchases.
Its trademark lightweight integration means that game developers can quickly create an in-app community through activity feeds, smart invites, chat, messaging and social targeted push notification.
Furthermore, GetSocial has built a unique real-time and predictive analytics dashboard that can help developers optimize user revenue on the fly.
Going tier 1
Founded in 2012, with offices in The Netherlands, GetSocial has seen its pipeline grow significantly over the last 6 months.
"The market seems to be catching on to what we do. We have been approached by thousands of developers and by the end of this year, we will have more than 100 games which use our platform," says Palmer.
"At the current pace, we need to scale up our team quickly to keep up with demand.
"This funding will allow us to do all the things we need to implement our growth strategy and help us expand beyond Europe into Asia and the US."
We've got a long list of tier 1 developers currently piloting our technology.Reinout te Brake
GetSocial's CEO Reinout te Brake adds: "We are very happy to see our platform being validated by companies such as Hutch, MAG Interactive, Poptacular, etc who are experiencing significant reductions in CPA, together with higher revenues from in-app purchases.
"With prospects of up to 100% increase in retention and 20% in organic growth, we've got a long list of tier 1 developers currently piloting our technology and they're showing excellent results already. The aim is to get them live in Q1-Q2 of 2016."
GetSocial plays into a new trend, in which mobile gaming developers are seeking less crowded and more direct channels of engagement with their players.
"It's our believe that developers should look more at their LTV across their game portfolio. With GetSocial you can retain your gamers much longer to cross-promote your own games towards in-active users. UA becomes healthy again in 2016," te Brake promises.
You can find out more about how GetSocial works via its website.