Independent App developer, Pocket App, officially closed its funding round on Seedrs today having raised 111% of its goal for a total of £837,115. According to Pocket App, 436 investors purchased equity in the young company. Investors also benefited from various perks including discounts on app development and a list of free services including workshops, interface designs and an interactive application prototype. Pocket App boasted a list of high profile clients prior to the crowdfunding round including Adidas, Samsung, the Sun and more. Pocket App has also received multiple industry recognition such as being one of the winners of the UK Digital Experience Award and a UK App Design Award.
Paul Swaddle, CEO and co-founder of Pocket App, called the investment crowdfunding campaign an “overwhelming success.”
“… it just goes to show that people are really beginning to believe in the value of mobile,” stated Swaddle. “We feel that the impact mobile technology has had in the six years since we founded Pocket App is just the beginning and to have the additional faith and support of over 430 new shareholders is a real fillip for our company.”
Swaddle said the funding will enable the company to hire additional managers and increase their “mobile offerings exponentially.”
“We’ve long felt that we are at the forefront of the mobile revolution, by building ground-breaking apps and mobile solutions for our clients, and now that we are the largest independent app developer left in the marketplace, following the acquisitions of Mubaloo and The App Business, that affords us tremendous opportunities to advance our business yet further,” said Swaddle.
Andrew Hull, co-founder and Strategy Director of Pocket App said this was a particularly exciting time for their company.
“Not only were we able to reach our target investment amount of £750,000, but we were actually able to exceed it by over 10% which is particularly gratifying. With the mobile application and development market estimated at being worth around £100bn and continuing to achieve unprecedented growth, it’s fair to say that almost every new business idea, regardless of the vertical market, has an app or mobile element to it. We are now uniquely placed to take maximum advantage of this growing trend and this additional funding will enable us to further support individual clients, consulting businesses and agencies by adding our mobile expertise to consult, design and develop the mobile services and applications that they need.”
Pocket App states it is already profitable but the capital injection will help position their company to scale and service enterprise customers.
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