Mobile market intelligence platform AppMagic has secured $3 million in Series A funding.

As a result, the funds will be used for research and development of new platform features.

Additionally, AppMagic also plans to establish dedicated sales teams in key app markets, including the US, China, South Korea and Japan.

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The company currently offers a range of data points for apps and games, such as revenue and download estimates, app rankings, global and regional market estimates, ad intelligence, creative analysis and live ops analysis.

Meanwhile, the investment round was led by GEM Capital, contributing $2.5 million with Vibranium adding $500,000.

Founded in 2016 by Max Samorukov, who previously served as CPO at mobile games publisher Crazy Panda, AppMagic initially raised seed funding from performance marketing firm RoasUp.

AppMagic CEO, Max Samorukov, said: “AppMagic remains committed to developing a user-friendly, full-spectrum toolset for mobile app market research.

“This investment from GEM Capital will accelerate our product development, adding new types of data and increasing its accuracy. Additionally, we aim to establish regional sales teams to improve our global presence. We also continue to support smaller companies and developer communities with very flexible pricing and rich functionality accessible for free.”

GEM Capital MD Kirill Gurskiy, continued: “We were impressed with what AppMagic has achieved with just $200k in seed funding. They became the third-largest mobile market intelligence tool by number of clients.

“As AppMagic users ourselves, we believe it is the best product on the market in terms of UI/UX. The simplicity and ease of use, combined with the depth and complexity of its analysis, are unparalleled.

“The recent Sensor Tower and data.ai deal opens a window of opportunity for AppMagic to capitalise on its strengths. We are excited to support Max and his team in this promising venture.”