Apptopia
Founded 2011 · 68 employees on LinkedIn · 13 known investors
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Apptopia provides mobile app consumer data—app store intelligence and device-level panel data covering 3,500+ public tickers across 160+ countries—for use in quantitative investment research, backtesting, and machine learning models. It serves financial institutions and institutional investors seeking behavioral signals for trading and allocation decisions.
Also known as Apptopia Inc. · Apptopia, Inc.
Founders & leadership
Apptopia was founded in 2011 by Jonathan Kay and Eliran Sapir.
Investors · 13
Funding
SEC filings, press & company announcements$20M disclosed across 1 of 3 rounds · 2021
- $20MSeries CMay 2021 · 2 sources
ABS Capital Partners (lead), Blossom Street Ventures
Source ↗
Source: company announcements and press reports — follow each round's link for the claim.
Company profile
researched Aug 2026Apptopia is a Boston-based provider of mobile consumer intelligence aimed at institutional investors and equity analysts. Its datasets cover app performance and consumer engagement across more than 3,500 publicly traded companies, and are drawn in part from a proprietary panel of about 15 million real-user devices. Products include Apptopia Base (core app performance metrics for quantitative strategies), Apptopia Advanced (segmented behavioral insights from the device panel), KPI Forecasting (models predicting company KPIs ahead of earnings), and a Mobile Performance Index that combines metrics into a single correlated index. A newer offering, Apptopia Gen-AI, covers engagement with AI applications and related sector segmentations.
The company positions its data for use in thesis validation, backtesting and model building: metrics are timestamped and stored point-in-time to avoid lookahead bias, core metrics refresh as often as every four hours, and the company states median correlations of 0.8 or above to reported KPIs across hundreds of public companies. Coverage highlighted by the company spans fintech and trading apps, ride-hailing and delivery, ad-supported platforms, dating apps, and betting and gaming.
Historically, Apptopia also sold competitive intelligence to brands and corporations, analyzing signals across mobile apps and connected devices; as of 2021 its customer list included Google, Visa, Coca-Cola, Target, Zoom, NBC, Unity Technologies, Microsoft, Adobe, Glu, Andreessen Horowitz and Facebook. More recent company materials emphasize a narrowed focus on mobile consumer data for the investment community.
Founding story
Apptopia was founded in 2011 by Jonathan Kay and Eliran Sapir. Before Apptopia, Sapir was involved in several startups including GPush, Oasys Water, GreatPoint Energy and DVTel.
Business model
Apptopia sells subscription access to its data and analytics platform to enterprises and financial institutions, and distributes data through third-party channels including the Bloomberg Terminal, the Bloomberg App Portal, AWS Data Exchange and Snowflake. Data products are also licensed to other providers, with several Yipit products powered exclusively by Apptopia mobile consumer activity data.
Subscription/data licensing revenue from corporate and financial-institution customers, supplemented by distribution partnerships that make its data available inside third-party platforms.
Traction
Apptopia reported 50% year-over-year revenue growth for three consecutive years through 2021 and said it had been profitable since the start of 2020. It reported tripling its valuation between its late-2019 fundraise and the 2021 Series C, though it declined to disclose the figures. Its site cites more than 200 financial institution customers and coverage of over 3,500 public companies. The company was named to Forbes' 2021 list of America's Best Startup Employers and to the Financial Times' Americas' fastest-growing companies list two years running.
Latest developments
In February 2025 Apptopia acquired a mobile consumer panel covering the U.S. and Europe, saying it aimed to build the most extensive U.S. mobile panel by the end of 2025 amid a decline in available panels. The company has also announced a partnership making it the mobile data provider for several Yipit data products, a Bloomberg Terminal data partnership, and a new Apptopia Gen-AI dashboard covering AI app engagement.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
The company describes itself as the leading provider of mobile consumer intelligence for institutional investors, citing use by more than 200 financial institutions and over 10 years of experience. It states that in benchmarking by Maiden Century it ranks first for more than 150 tickers. It competes with mobile app intelligence vendors such as Sensor Tower and App Annie, which have relied more heavily on consumer app panels for data collection.
Apptopia emphasizes ethically sourced data and states it has never used or collected personally identifiable information, contrasting its approach with competitors' use of consumer-facing panel apps such as VPN clients and ad blockers. It also highlights point-in-time data integrity for backtesting, intraday refresh rates, third-party accuracy benchmarking, and a deliberate narrowing of scope to mobile rather than broad multi-signal digital data.
Technology
Machine-learning models applied to billions of data points from app stores and connected devices. Rather than relying primarily on consumer-facing panel apps in its earlier years, the company invested in data science to reverse-engineer app store ranking signals — sessions, users, time spent and other inputs — from aggregated, anonymized developer data, later adding a proprietary device panel of roughly 15 million users. Data is timestamped and stored historically to support point-in-time backtesting, with refresh cycles as frequent as every four hours.
Go-to-market
Direct enterprise sales with demo requests through its website, distribution partnerships with Bloomberg, Yipit, AWS Data Exchange and Snowflake, and content marketing through free research reports, benchmark studies and a mobile-trends resource library.
Hedge funds, investment banks, quantitative firms, fundamental analysts and internal data teams at financial institutions; historically also brands and corporations seeking competitive intelligence.
Geography
Headquartered at 50 Milk Street, Boston, Massachusetts, with an office in Kyiv, Ukraine. The mobile consumer panel acquired in 2025 focuses exclusively on the U.S. and Europe.
History
Founded in 2011, Apptopia initially built a competitive intelligence business around mobile app data for brands and developers; it tested and abandoned an early plan to build a mobile panel. It launched a mobile intelligence app in the Bloomberg App Portal in 2020 and raised a $20 million Series C in May 2021, at which point co-founder Eliran Sapir moved from CEO to chairman of the board and co-founder and COO Jonathan Kay became CEO. In February 2025 the company acquired a U.S.- and Europe-focused mobile consumer panel to expand its proprietary dataset.
Risks & controversies
The mobile app data industry has faced scrutiny over panel data collected via consumer-facing apps such as VPN clients and ad blockers, where users did not necessarily understand their app usage was being collected; Apptopia states it does not use such apps and has never collected personally identifiable information. In 2021 its CEO acknowledged that Apptopia's data was historically not always regarded as the most accurate, and that rivals had more accurate data from roughly 2016 to 2018. The company also maintains engineering operations in Ukraine.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 8
launches, deals, and filingsApptopia announced it is the premier provider of mobile app data inside the Bloomberg Terminal.
Several Yipit data products are powered exclusively by Apptopia's mobile consumer activity data.
Apptopia acquired a mobile consumer panel focused exclusively on the U.S. and Europe, integrating it with its existing panel to expand its proprietary dataset for investor-focused products. The company said it was on track to establish the most extensive U.S. mobile panel by the end of 2025. Financial terms and the target's name were not disclosed.
Apptopia introduced proprietary data on AI app engagement, with AI-user data insights and segmentations, offered free for a limited time.
Apptopia closed a $20 million Series C financing led by ABS Capital Partners with participation from existing investors including Blossom Street Ventures, to fund expansion beyond mobile apps into connected-device data. ABS Capital's Mike Avon and Paul Mariani joined the board. The company said it had raised $30 million in outside capital to date and had tripled its valuation since its prior fundraise at the end of 2019.
$20M source ↗
Co-founder and COO Jonathan Kay took over as CEO from co-founder Eliran Sapir, who transitioned to chairman of the board.
Apptopia was named to Forbes' 2021 list of America's Best Startup Employers and to the Financial Times' Americas' fastest-growing companies list two years in a row.
Apptopia partnered with Bloomberg to bring mobile app data to traders, investors, portfolio managers and chief investment officers via the Bloomberg App Portal on the Bloomberg Terminal.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- Apptopiaapptopia.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Apptopia do?
- Apptopia sells mobile app and device-panel consumer data to investors tracking 3,500+ publicly traded companies.
- Who founded Apptopia?
- Apptopia was founded by Jonathan Kay, Eliran Sapir in 2011.
- Who are Apptopia's investors?
- Apptopia's investors include 500 Global, ABS Capital Partners, Blossom Street Ventures, CSC Upshot, Expansion Venture Capital, Kima Ventures, Newfund Capital, Riverside Acceleration Capital and 5 more.
- How much funding has Apptopia raised?
- Apptopia has disclosed $20M raised across 1 of its 3 known rounds.