Qonversion

History

2021: Attracting €1.7 million of investments

In December 2021, Qonversion held a financing round of 1.7 million euros. Visionaries Club and Flashpoint VC have invested the most in the service founded by Russians to create subscriptions in applications. Blinkist founder Holger Seim and the S16VC fund also participated in the investment deal.

Qonversion intends to spend the funds raised on international expansion (in Europe, the USA and the Asia-Pacific region), including the opening of its headquarters in London. It is planned to strengthen the development team, as well as build a team of specialists in the commercial promotion of products.

Qonversion command

We believe that more and more mobile applications will move from advertising as the main model of monetization to subscriptions, and Qonversion offers the best solution in the market as part of this trend, "said Alexander Konoplasty, managing partner of Flashpoint Venture Capital, commenting on investing in a startup.

Co-founder and CEO of Qonversion Mikhail Stysin expressed confidence in the success of his company due to the creation of a universal solution that can solve all the problems of subscription monetization. Given the constant changes in the policy of app stores and Apple's plans regarding the possibility of using third-party acquiring for monetization within applications, it is expected that the complexity of the necessary infrastructure will only increase, he added. 

By December 2021, more than 1 thousand applications were connected to the Qonversion platform, compared to 1690 a year earlier. The service tracks $250 million in subscription revenue in mobile applications and analyzes the data of more than 150 million monthly active users of mobile applications. According to Qonversion, the 250 best non-gaming applications by 2021 receive 95% of revenue from subscriptions.^[1]

2020: Raising $850 000 investment from LVL1 and AddVenture

On August 13, 2020, Qonversion announced the raising of $850 000 in investments from LVL1 and the international venture fund AddVenture. Investments will be used for further development.

We are closely watching the mobile app market. At the end of 2019, global revenue from purchases in the Apple App Store and Google Play Store amounted to $120 billion (according to the App Annie report). At the same time, one third - falls on applications with a subscription model of monetization. We see that this segment is growing and requires its infrastructure and analytics. In our opinion, Qonversion qualitatively satisfies demand in this direction, "comments Lev Leviyev, founder of the LVL1 investment group.

When we realized how resource intensive the process of embedding subscriptions is, we came up with the idea of ​ ​ creating a tool that will save the time and money of the same developers as us, providing them with quality data for further marketing steps. Building and maintaining infrastructure, collecting information servers Apple Google and uploading data to marketing platforms is the time of several full-time developers that can cost the company up to $20 000 per month, "comments startup Mikhail Stysin, CEO Qonversion.

When developing Qonversion, we focused on the needs of mobile application analysts and marketers, and thus were able to build a platform to help make the right decisions in promoting the product through accurate and quality data. For example, working with the return of users who canceled a subscription or left after a trial period can bring up to 5 percent to revenue, "says Evgeny Virnik, product director, about the service.

To start using Qonversion, you need to install the SDK, make personal settings inside our interfaces and test the system - on average, it is half an hour of working time for one developer. And then the client gets access to a marketing tool that allows you to work with subscription data, "explains Qonversion Sam Mejlumyan, technical director of the company

Qonversion's pricing policy is very attractive against competitors. As of August 2020, the service cooperates with hundreds of international applications aimed at improving the lives and self-development of users. Applications entering the market with a small number of subscribers can use the service absolutely free of charge. For large market players, valuable analytics will cost from $99.