NEW YORK, Oct. 24, 2024 /PRNewswire/ -- Sociaaal, the fast-growing mobile app studio that specializes in building, buying, and publishing non-gaming apps for Gen Z, is pleased to announce it has secured $4 million in financing from Braavo Capital. The funding will be used to focus on expanding their publishing unit to further scale the business, acquire more apps, and enhance marketing for their existing portfolio.
Founded in 2022, Sociaaal has quickly become a market leader with a portfolio of 20 apps and over 34 million downloads. With a focus on rapid app development, data-driven strategies, and refined user acquisition capabilities, Sociaaal successfully launches and monetizes new apps in less than one month. The company capitalizes on Gen Z's demand for apps that deliver quick but meaningful and fun interactions, with apps like Litstick, which offers short, engaging content in the form of prank stickers.
This round of funding from Braavo Capital positions Sociaaal for further expansion, with the goal of doubling their size within the next year. The company also has plans to expand beyond social and entertainment apps into new categories like self-improvement, productivity, and wellbeing, already demonstrated by products like its AI-powered Dreamwise app that allows users to record and analyze their dreams.
"We are impressed with Sociaaal's growth and are thrilled to lead this financing round," says Mark Loranger, CEO of Braavo Capital. "Braavo's $4 million commitment demonstrates our belief in their team's vision and ability to execute."
Sociaaal CEO Patrick Stuart-Constant reiterated the sentiment, "Braavo has been an invaluable partner throughout Sociaaal's growth journey, and was a natural fit for this round of financing. Their ability to quickly understand Sociaaal's growth potential made them an ideal partner for this critical phase of expansion."
About Sociaaal
Founded in 2022, Sociaaal is the fast-growing mobile app studio that specializes in building, buying, and publishing non-gaming apps for Gen Z . The company has leveraged its expertise in rapid iteration, AI, and data driven strategies to reach over 34 million installs across its portfolio of 20 apps.
About Braavo Capital
Established in 2015, Braavo is the leading funding partner for the world's most successful app businesses. Having facilitated over $1 billion in financing and supported over 8000 apps since inception, Braavo offers a range of financing, from on-demand receivables to multi-million dollar bespoke credit facilities.
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SOURCE Sociaaal