Pyze, a mobile business intelligence firm, emerged from stealth today having secured $1.7 million in seed funding. The aim of the company is to democratize the data pool, providing small publishers with the kind of data and intelligence that large app publishers have built for themselves.
Pyze’s initial investors include DoubleRock and a number of angel investors in New York and San Francisco. The funds will be used for product development and commercialization as per a release.
The app market is currently top-heavy. Though it is expected to grow to $100 billion by 2020, a small number of apps make a huge percentage of the profits to be had, while most only make about $500 a month. “Most app publishers are living on Ramen,” says Prabhjot Singh, Pyze’s CEO and co-founder.
What Pyze was essentially designed to do, says Singh, was deliver “a data scientist in a box to every app publisher.” Looking at the larger publishers, Singh says they’ve gathered enough data to look beyond surface level analytics and have targeted intent and behavior—something smaller publishers are unable to do.
Singh says the key aspects of their product will be available to app publishers via a free tier of service, but will charge for enterprise services like 24/7 tech support.
Just about everyone that uses analytics doesn’t rely on just one service.
“Our long-term plan is being able to aggregate multiple data feeds,” says Singh. “The more data we have the more intelligent the system becomes automatically. The big challenge is not just data, but utilizing that data to engage with users at the right time, for the right reasons.”